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Outsource Your TDS/TCS Filing

Tax deduction at source is one of the modes of collection of taxes, by which a certain percentage of amounts are deducted by a person at the time of making/crediting certain specific nature of payment to the other person and deducted amount is remitted to the Government account. Need help TDS return filing online or want to know the process?
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TDS Return Filing Procedure

  • Information Collection
  • Information compilation and Processing
  • Reviewing Draft
  • Filling Return
  • Payment of Rent exceeding 50,000 in a month
  • Purchase of Property
  • Salary (Exceeding Taxable Threshold Limit)
  • Rent (Exceeding 2.4 Lacs in a Year)
  • Payment to Contractors
  • Payment to Professionals
  • Interest other than interest paid to banks
  • Dividend
  • April to February: 7th of the following month
  • March: 30th of April
  • Interest on late deposit: 1.5% per month including the month when the same was supposed to be deducted
  • April to June: 31st July
  • July to Sep: 31st October
  • October to Dec: 31st January
  • Jan to March: 31st May
TAX Process

“FAQs Related to TDS Return Filing

Who needs to file TDS Return?

It is the duty of the person who is making payment to someone for specified goods or services to deduct TDS and file TDS return. The specified payment includes salary, interest, commission, brokerage, professional fees, royalty, contract payments, etc. The person who deducts TDS is called deductor and the person whose tax is being deducted is called deductee. TDS is not required to be deducted by Individuals and HUF.

What is TAN? Is it required to file TDS return?

TAN is an alphanumeric 10-digit number required by a person who is liable to deduct TDS and file TDS return. Thus such a person must make an application within a month of deducting TDS for allotment of Tax Deduction and Collection Number (TAN) in Form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challan etc. If a person fails to apply for TAN he may be penalized up to Rs. 10,000/-.

Is PAN mandatory for deductors and employees?

Yes. It is mandatory for deductors and employees to submit their PAN as well.

What are the documents required to file TDS return Online??

The following Documents are required to file TDS return online
  • TAN details
  • PAN details
  • Last TDS filing details, if applicable
  • The period for which TDS has to be filed
  • Date of incorporation of the business
  • No. of transactions for filing TDS returns
  • Name of the entity - Proprietorship/ Partnership/ Company/ LLP

How do I deposit TDS in the central bank?

Payment can be done using net banking online on NSDL by selecting Challan 281. The TDS payments should be made before filing the TDS return. e-payment is compulsory for all Corporate assesses and non-corporate assesses who are liable for audit u/s 44AB. Physical payment can be made using Challan 281 in an authorized bank branch.
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