TDS Return is required to be filed by the assessee who has deducted the TDS. TDS Returns are required to be filed after specified intervals and particulars to be furnished in these returns embody fields like TAN No., TDS Fee, quantity deducted, kind of fee, PAN No. and so on.
- Really useful Learn: Process for deposit of TDS Fee on-line
TDS Return Kind
Totally different TDS Types have been prescribed relying on the aim of deduction of TDS. The assorted TDS Types are as follows:-
|Kind 24Q||Assertion for tax deducted at supply from salaries|
|Kind 26Q||Assertion for tax deducted at supply on all funds besides salaries|
|Kind 27Q||Assertion for deduction of tax from curiosity, dividend, or every other sum payable to non-residents|
|Kind 27EQ||Assertion of assortment of tax at supply|
The quarterly return statements must be accompanied by a signed verification in Kind No. 27A. Kind 27A is a management chart of quarterly TDS/TCS statements to be filed by deductors/collectors alongwith quarterly statements. It’s a abstract of TDS/TCS returns which comprises management totals of ‘quantity paid’ and ‘earnings tax deducted at supply’.
The management totals of ‘quantity paid’ and ‘earnings tax deducted at supply’ talked about on Kind No. 27A ought to match with the corresponding management totals in TDS/TCS return. A separate Kind No. 27A is to be filed for every TDS/TCS return.
TDS Return in Digital Format (e-TDS Returns)
As per Part 206, the tds varieties should be mandatorily filed in digital media by the next class of assesses:-
- All Company Deductors/ Collectors (Notification No. 205/2003 dated 26 August 2003)
- All Govt Deductors/Collectors (vide Finance Act 2004)
- The place the deductor/Collector is required to get his accounts audited beneath part 44AB within the instantly previous monetary yr
- The place the no. of deductees/collectees data in a quarterly assertion for one quarter of the instantly previous monetary yr is the same as or greater than 20 (Notification No. 41/2010 dated 31 Could 2010)
All different assesses besides these specified above have the choice both to furnish the return in bodily format or digital format.
TDS Return Due Date
From 1st June 2016 onwards, the Due Date for submitting TDS Return (each on-line in addition to bodily) is as follows:-
|Quarter||Due Date for Kind 24Q & Kind 26Q||Kind 27Q||Kind 27EQ|
|April to June||thirty first July||thirty first July||fifteenth July|
|July to Sept||thirty first Oct||thirty first Oct||fifteenth Oct|
|Oct to Dec||thirty first Jan||thirty first Jan||fifteenth Jan|
|Jan to March||thirty first Could||thirty first Could||fifteenth Could|
NSDL TDS Return Software program
TDS Returns that are required to be submitted electronically are ready with the assistance of return preparation utility. To facilitate straightforward preparation of returns, the Govt has additionally launched a TDS Return Preparation Utility (RPU). This utility could be downloaded freed from value from right here.
There are numerous different 3rd celebration non-public return preparation utilities as properly by means of which the TDS Returns could be filed electronically. The checklist of personal return preparation utilities by means of which the returns could be filed are talked about on this hyperlink. Most of those non-public utilities are paid utilities as in comparison with the NSDL Return Preparation Utility which is free.
Submission of TDS Return
The returns could be submitted at any of the TIN-FC’s managed by NSDL. Tin FC’s are arrange at specified places throughout the nation. The main points and deal with of all TIN-FC’s have been uploaded on this hyperlink.
The return will also be furnished immediately on the NSDL TIN web site. In case the deductor opts for submission of return on-line, he could be required to signal the return by means of his digital signatures.
On the time of submission of return, in case your return is full in all facets, a provisional receipt/token no. could be issued. The provisional receipt/token no. is an acknowledgement of the truth that the return has been filed. In case of non-acceptance of your return, a non-acceptance memo could be issued stating the explanations for rejection
Fees for submission of TDS Return
The next fees to be paid on the time of submission of return.
|No. of Deductee Information in TDS Return||Add Fees (excl. of Service Tax)|
|Returns having upto 100 data||Rs. 31.15|
|Returns having 101 to 1000 data||Rs. 178|
|Returns having greater than 1000 data||Rs. 578.50|
TDS Return Standing
TDS Return Standing of the assertion filed by the assessee could be checked on-line by furnishing the PAN No. and the Provisional Receipt No./Token No. on the next hyperlink of NSDL web site – https://onlineservices.tin.egov-nsdl.com/TIN/JSP/tds/linktoUnAuthorizedInput.jsp
Penalty for delay in submitting of TDS Return
Late submitting of TDS Return
As per Part 234E relevant wef 1st July 2012, in case an assessee fails to submit the TDS Return earlier than the due date, he shall be liable to pay a penalty of Rs. 200 per day until the time the default continues. Nonetheless, the entire penalty computed @ 200/day shouldn’t exceed the entire quantity of tax deducted.
Non-filing of TDS Return
An individual shall even be liable to penalty in case the return has not been filed inside 1 yr from the due date of submitting of return or if incorrect info has been delivered. The penalty levied shouldn’t be lower than Rs. 10,000 and never be greater than Rs. 1,00,000.
Revision of TDS Return
In case of any errors are observed after the submission of return, a correction assertion could be filed by the deductor. The above talked about fees would even be required to be once more paid in case a Revised Return is filed by the deductor.
Revised Return could be filed a number of occasions to include any adjustments. (Really useful Learn: Learn how to file a Revised TDS Return)
Related factors relating to TDS Return submitting
- A single return shouldn’t be damaged into elements and filed in 2 separate media. It needs to be in a single media
- Greater than 1 TDS Return could be filed in the identical pc media
- You can even file the return in compressed type utilizing Winzip
- On acceptance of the e-tds return, the pc media could be returned to the deductor.
- If the e-TDS/TCS return file is full in all facets, TIN-FC will difficulty a provisional receipt to you. The provisional receipt issued by TIN-FC is deemed to be the proof of e-TDS/TCS return filed by you.
- In case of non-acceptance of your e-TDS/TCS return file, TIN-FC will difficulty a Non-Acceptance Memo which is able to state purpose for rejection.
- TDS Return is required to be furnished in all circumstances as per the above talked about process besides in case of TDS on Property which is to be furnished in Kind 26QB which is a challan-cum-return type.
Categorized beneath head: TDS Charges, TDS Return