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    Introduction to TDS Return Filing

    TDS (Tax Deducted at Source) return filing is a quarterly process where a deductor submits a statement to the Income Tax Department. It is mandatory for the deductor to file the TDS return on time, providing essential details about the tax deducted and payments made.

    Key Features of TDS Return

    1. Mandatory Filing: TDS return must be filed quarterly for all tax deducted at source from various payments.
    2. TDS Forms: There are different forms based on the nature of payments:
      • Form 24Q: TDS from salaries.
      • Form 26Q: TDS on payments other than salaries.
      • Form 27Q: TDS on income earned by non-residents.
      • Form 27EQ: Statement of TCS (Tax Collected at Source).
    3. PAN Details: The PAN of both the deductor and deductee must be provided for accurate credit of the tax deducted.

    Benefits of TDS Return Filing

    1. Legal Compliance: Timely filing ensures compliance with tax laws and avoids penalties.
    2. Tax Credit: Allows deductees to claim TDS credit while filing their income tax returns.
    3. Financial Transparency: TDS return ensures that taxes are deducted at the source and credited to the government.

    Documents Required for TDS Return Filing

    1. PAN Details: Valid PAN of both the deductor and deductee.
    2. TDS Challan: Challan information detailing the amount of tax paid to the government.
    3. TDS Certificates: A valid TDS certificate for verification.
    4. Bank Account Details: Account details or Aadhar linked PAN for e-filing of TDS returns.

    Knowledge Base

    • The due date for TDS return filing depends on the quarter:
      • Q1 (April–June): On or before 31st July.
      • Q2 (July–September): On or before 31st October.
      • Q3 (October–December): On or before 31st January.
      • Q4 (January–March): On or before 31st May.

    Failure to furnish the correct PAN will result in a higher TDS deduction (20% instead of the normal rate) and a penalty of ₹10,000.

    The deductee can claim TDS credit by mentioning TDS details in their income tax return, ensuring the TDS certificate number and other details are accurate.

    TDS payment must be made by the 7th of the following month. For example, TDS for April should be paid on or before 7th May.

    If a TDS certificate is lost, the deductee can request a duplicate certificate from the deductor.

    Yes, TDS returns can be filed electronically using the government’s e-TDS software (RPU and FVU) for easy preparation and submission of TDS returns.

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