TDS Return Filing 2017-11-17T05:08:46+00:00

The easiest and fastest way to file your TDS Return Online


LegalRaasta is a registered e-filing intermediary of Income Tax Department with 40,000+ users

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4,999
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Our software supports TDS on Salary payments (Form 24Q), Rent, Interest, Commission and other Non-salary transactions (Form 26Q), NRI (Form 27Q) and TCS (Form 27EQ).

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Features

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EASILY IMPORT DATA

Import data from Excel and TDS files

 

VERIFICATION

Automatically verify TAN and PAN number

 

OLTAS LINKING

Import data from Excel and TDS files

 

TDS COMPUTATION

Automatically Calculate TDS

 

FVU SUBMISSION

Submit the return in FVU format without any difficulty

 

FORM GENERATION

Generate Form 16, 16A and more with ease

What is TDS?

TDS (Tax Deducted at Source) is an indirect system of deduction of tax according to the Income Tax Act, 1961 at the point of generation of income. Tax is deducted by the payer and is remitted to the government by him on behalf of the payee.

A TDS Return is a quarterly statement which has to be submitted to the Income Tax Department of India. Submitting TDS Return is mandatory if you are a deductor. It has details of TDS deducted and deposited by you.

Frequently Asked Questions

1. What is TDS?
TDS means Tax Deducted at Source. It is the amount deducted from payments of various kinds such as salary, contract payment, commission etc. This deducted amount can be adjusted against the tax due of the deductee.
2. Who is required 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 except for those whose accounts are required to be audited u/s 44AB i.e. whose gross receipts in preceding financial year in case of business is more than 2 crore (AY 2017-2018) or 1 crore ( AY 2016-2017) and in case of profession 50 lakhs ( AY 2017-2018) or 25 lakhs (AY 2016-2017).
3. What is TAN and 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 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, challans etc. If a person fails to apply for TAN he may be penalised up to Rs. 10,000/-.
4. What are different types of TDS forms?

Different types of TDS forms are as follows:-

  • Form 24Q -TDS on Salaries
  • Form 26Q – TDS on payments other than Salaries
  • Form 27Q – TDS on payments made to Non-Residents
  • Form 27EQ – TCS
5. Is PAN mandatory for deductors and employees/deductees?
PAN of the deductor has to be given by Non-Government deductors. It is essential to quote PAN of all deductees.
6. What are the due dates of submission of quarterly TDS Returns?
Due dates of submission of quarterly TDS Return is 31st July for Q1, 31st October for Q2, 31st January for Q3, and 31st May for last quarter.
7. What are the rates at which TDS is to be deducted for TDS returns?

Following table gives the types of payments, threshold limits and the rates at which TDS is to be deducted.

SectionParticularsTDS Rates in %Threshold limits
192SalaryAs per the rates of Income SlabAs per the rates of Income Slab
192APayment of accumulated balance of provident fund which is taxable in the hands of an employee10
193Interest on securities
a) Interest on Securities10Nil
b) Interest on Debentures;10Nil
194Dividend
(other than the listed companies)
10Nil
194AIncome by way of interest other than interest on securities10Rs. 5,000
194BWinnings from lotteries/ puzzles/card games.30Rs. 10,000
194BBIncome by way of Winnings from horse races30Rs. 5,000
194CPayment to contractor/sub- contractor

a) HUF/Individuals

b) Others

 

1

2

Rs. 30,000
194DInsurance commission5Rs. 20,000
194DAPayment in respect of life insurance policy1
194EEPayment of NSS Deposits10Rs. 2,500
194FPayment on account of repurchase of unit by Mutual Fund or Unit trust of India20Nil
194GCommission on sale of lottery tickets5Rs. 1,000
194HCommission or brokerage5Rs. 5,000
194-IRent
a) Plant & Machineryb) Land or building or furniture or fitting
2

10

Rs. 1.8 lakhs
194-IAPayment on transfer of certain immovable property other than agricultural land1
194-IBPayment of rent by individual or HUF not liable to tax audit5
194-ICPayment of monetary consideration under Joint Development Agreements10
194JAny sum paid by way of

  1. Fee for professional services
  2. Fee for technical services
  3. Royalty,
  4. Remuneration/fee/commission to a director or
  5. For not carrying out any activity in relation to any business
  6. For not sharing any know-how, patent, copyright etc.
10Rs. 30,000
194LAPayment of compensation on acquisition of certain immovable property10Rs. 1 lakh
194LBAIncome distribution by a Business Trust u/s 115UA10
194LBBIncome distribution by a Investment Fund u/s 115UB10
194LBCIncome distribution by a Securitisation Trust u/s 115TCA25% in case of Individual or HUF 30% in case of other individual
Any other Income10
SectionParticularsTDS Rates in %Threshold limits
192SalaryAs per the rates of Income SlabAs per the rates of Income Slab
192APayment of accumulated balance of provident fund which is taxable in the hands of an employee10
193Interest on securities
a) Interest on Securities10Nil
b)Interest on Debentures;10Nil
194Dividend
(other than the listed companies)
10Nil
194AIncome by way of interest other than interest on securities10Rs. 5,000
194BWinnings from lotteries/ puzzles/card games.30Rs. 10,000
194BBIncome by way of Winnings from horse races30Rs. 5,000
194CPayment to contractor/sub- contractor

a) HUF/Individuals

b) Others

 

1

2

Rs. 30,000
194DInsurance commission5Rs. 20,000
194DAPayment in respect of life insurance policy1
194EEPayment of NSS Deposits10Rs. 2,500
194FPayment on account of repurchase of unit by Mutual Fund or Unit trust of India20Nil
194GCommission on sale of lottery tickets5Rs. 1,000
194HCommission or brokerage5Rs. 5,000
194-IRent
a) Plant & Machineryb) Land or building or furniture or fitting
2

10

Rs. 1.8 lakhs
194-IAPayment on transfer of certain immovable property other than agricultural land1
194-IBPayment of rent by individual or HUF not liable to tax audit5
194-ICPayment of monetary consideration under Joint Development Agreements10
194JAny sum paid by way of

  1. Fee for professional services
  2. Fee for technical services
  3. Royalty,
  4. Remuneration/fee/commission to a director or
  5. For not carrying out any activity in relation to any business
  6. For not sharing any know-how, patent, copyright etc.
10Rs. 30,000
194LAPayment of compensation on acquisition of certain immovable property10Rs. 1 lakh
194LBAIncome distribution by a Business Trust u/s 115UA10
194LBBIncome distribution by a Investment Fund u/s 115UB10
194LBCIncome distribution by a Securitisation Trust u/s 115TCA25% in case of Individual or HUF 30% in case of other individual
Any other Income10

TDS on Salaries: Liability for deducting tax in case of Salary payments is determined by the employer at the start of financial year based on monthly salary. TDS is then deducted monthly in equal instalments.
Deduction at a higher rate: As per section 206AA if the deductee fails to provide PAN then deduction has to be made at 20% or applicable rate whichever is higher.

8. How do I deposit TDS to Central Government?
Payment can be made online on NSDL by selecting Challan 281 and making the payment using net banking. These TDS payments need to be made before filing the TDS return.
E-payment is compulsory for all Corporate assesses & non-corporate assessees who are liable for audit u/s 44AB.
Physical payment can be made using Challan 281 in authorised bank branch.
9. Who is required to issue TDS certificates?
Every person deducting tax as per provisions of section 203 is required to issue a certificate to the payee in respect of tax deducted by him along with certain other particulars. This certificate is called TDS Certificate. Even banks deducting TDS on pensions issue TDS certificates.
Types of TDS certificate to be issued in different cases:
Salaries: Certificate is to be issued in Form 16 containing details of TDS Payment, tax deducted at source and tax calculation based on which TDS was estimated. The certificate should be issued within 31st May of next financial year.
Non Salary Payments: Certificate is to be issued in Form 16A containing details of payment and tax deducted at source. The certificate should be issued within 15 days of due date of filing the return.
TCS: Certificate to be issued in Form 27D containing the Tax Collected & Paid details.
Failure to issue certificate will result in penalty of Rs. 100 for every day the failure continues but limited to the TDS amount.
10. What are the due dates for depositing tax and filing TDS return

Once tax is deducted the deductor should deposit the tax deducted with Central Government within time limit specified in the table below:

Type of DeductorPayments made between April – FebPayments made in March
GovernmentWithout Challan: Same day

With Challan: On or before 7th of next month

Without Challan: Same day

With Challan: On or before 7th of next month

Other than GovernmentOn or before 7th of next monthOn or before 30th April
Other than Government (payment u/s 194IA)On or before 30th of next monthOn or before 30th of next month

You need to file TDS return for each quarter as per the below schedule:

QuarterQuarter PeriodTDS return Filing due date
1st Quarter1st April to 30th June31st July, 2017
2nd Quarter1st July to 30th September31st Oct, 2017
3rd Quarter1st October to 31st December31st Jan, 2017
4th Quarter1st January to 31st March31st May, 2017
11. What is TDS Justification Report?
It is a document which serves as an annexure to the intimation to be sent to the deductor. Intimation will be sent to the deductor through mail / post but a justification report will have to be downloaded from the portal.

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