TDS Return form is required to be filed by the individual who has deducted the TDS. TDS Returns are required to be filed after specified intervals and details to be furnished in these returns include fields like TAN No., TDS Payment, type of payment, PAN No. etc.

TDS Return Form

Form No. Particulars
Form 24Q Statement for Tax Deducted at Source from salaries
Form 26Q Statement for Tax deducted at source on all payments except salaries
Form 27Q Statement for deduction of tax payable to Non-Resident of India
Form 27EQ Statement of collection of tax at source

The quarterly return statements should be accompanied by a signed verification in Form 27A. It is a control chart of quarterly TDS/TCS statements to be filed by deductors along with quarterly statements and a  summary of TDS/TCS returns which contains control totals of ‘Amount paid’ and ‘income tax deducted at source.

Form 24Q

  • It has to be filled up for the declaration of a resident’s TDS returns in detail.
  • It is based on a citizen’s salary payments and the deductions made for tax.
  • The declaration and payment are to be made quarterly by companies and firms in India.
  •  It is mandatory to fill the details such as Deductor, Deductee, Challans as well as Salary TDS have to be provided.
  • You can download the form online and submit online along with the documents.

However, for certain people, it is compulsory to be submitted online. This includes:

  • Deductor is a Government office
  • Deductor is a company’s principal officer
  • Deductor is required to have their accounts
  • Under 44AB of the Income Tax Act, 1961 Audited for the prior year.
  • If there are 20 or more records of deductee in a statement for any quarter of a particular financial year.
  • Along with Form 24Q, it is mandatory to submit Annexure I and Annexure II.
  • For all four quarters of the year, Annexure I needs to be filed.
  • For the final quarter of the year, Annexure II needs to be filed.

Form 26Q

  • Form 26Q has to be filled up for the declaration of a resident’s TDS returns in detail.
  • It is based on individual payments other than salary.
  • It has to be filled up for the declaration by people who are Indian citizens and living and working in India.
  • This form is payable under the sub – section (3) of section 200 of the Income-tax Act, 1961.
  • Whether the deductor is Government or non-Government, It needs to be indicated in the form.
  • It is compulsory to quote the PAN for non-Government deductors.
  • PANNOTREQD” has to be mentioned on the form for Government deductors.

Form 27Q

  • Form 27Q is for declaration of TDS returns in detail by NRIs(Non-Resident of India) and foreigners
  • Payments of foreigners and NRIs other than salary.
  • It is mandatory to mention the PAN for non-Government deductors.
  • PANNOTREQD” has to be stated for Government deductors, “.
  • It is mandatory to fill in all the amount columns. If an amount is not applicable, 0.00 has to be mentioned.
  • This is a quarterly tax deduction statement under the sub-section (3), Section 200 of the Income-tax Act, 1961.

Form 27EQ

  • It is necessary to mention the TAN No with this form
  • The declaration is a Quarterly statement of collection of (TCS) tax at source.
  • The form is made under the section 206C of the Income Tax Act.
  • It is compulsory for non-Government deductors to mention the PAN in the form.
  • “PANNOTREQD” has to be stated for the Government deductors.
  • On the Annexure 1, deductor category needs to be indicated
  • TCS is basically the tax that is collected by Seller from Buyer of certain goods when debiting the amount payable to the account of buyer by buyer or when receiving the amount from the buyer in the form of cheque, cash, demand draft or other modes of payment for selling certain prescribed goods as per Section 206C (1) for the purpose of business and not for personal use.

TDS Return in Electronic Format (e-TDS Returns)

The TDS Return form has to be necessary filed in electronic media by the following class of assesses as per Section 206.

  1. All Corporate Deductors/ Collectors (Notification No. 205/2003 dated 26 August 2003)
  2. All Govt Deductors/Collectors (vide Finance Act 2004)
  3. Under section 44AB, Deductor is required to get his accounts audited in the immediately preceding financial year.
  4. In a quarterly statement, the no. of deductee records for one-quarter of the immediately preceding financial year is equal to or more than 20.

Note – All other assesses except those specified above have the option either to furnish the return in physical format or electronic format.

TDS Return Due Date

Due Date for TDS return is as follows

Quarter Period TDS Return Due Date
1st Quarter 1st April to 30th June July 31st  2017
2nd Quarter 1st July to 30th September Oct 31st  2017
3rd Quarter 1st October to 31st December Jan 31st  2018
4th Quarter 1st January to 31st March May 31st 2018

Charges for Submission Of TDS Return

At the time of submission of return following charges to be paid.

No. of Deductee Records in TDS Return Upload Charges
Returns up to 100 records Rs. 31.15
Returns 101 to 1000 records Rs. 178
Returns more than 1000 records Rs. 578.50

Registration for e-filing of e TDS return:

  1. Log on to TRACES with the details of the assessee
  2. Click the’ Register as a new user’ option
  3. The e-filing portal will appear and you will be required to register (as tax deducted and collector) by using your TAN no. as the default ID.
  4. Create a password and provide details of the Authorized Person and other basic information of the registered office.
  5. After creating the password, log in to the e-filing portal of the income tax department and approve the TAN registration.
  6. After approval, a link will be sent to your email and a PIN will be sent to your registered mobile number.
  7. After clicking on the link sent to your email id and providing the PIN you will be registered.

Filing TDS return:

  1. Input e-TDS return data in software (or in the Return Preparation Utility provided by the NSDL) and process the same. RPU can be downloaded from the tin-NSDL website
  2. Upload the return to ‘e-filing’ portal of the ITD. This will generate a zip file of the processed return. Save the same.
  3. Go to the DSC management utility, choose the “bulk upload” option, attach the zip file created, input TAN of the assessee and PAN of the DSC holder. Choose the DSC option, select the digital signature certificate and generate a DSC file. Save the same.
  4. Now, log into the ITD portal with the deduction and collector’s login id and choose upload TDS return option from the TDS tab. Provide the required information like FVU version, financial year, quarter, form type etc.
  5. Attach the zip file created and the DSC file generated and click on submit.
  6. A token number will be provided to you after the submission which can be seen from the “viewed file return” option of the e-filing. Now the process of e-filing is complete.

TDS Returns Status

TDS Return Status is the statement filed by the assessee and he can check online by furnishing the PAN No. and the Provisional Receipt No./Token No. on the following link of NSDL website – https://onlineservices.tin.egov-nsdl.com/TIN/JSP/tds/linktoUnAuthorizedInput.jsp.

Penalty for Delay In Filing of TDS Return

Late filing of TDS Returns

Under Section 234E, a penalty of Rs. 200 per day till the time the default continues if an assessee fails to submit the TDS Return before the due date and the total penalty computed should not exceed the total amount of tax deducted.

Non-filing of TDS Returns

A person shall also be liable to the penalty if the return has not been filed within 1 year from the due date of filing of the return or if the incorrect information has been delivered. The penalty levied should not be less than Rs. 10,000 and not be more than Rs. 1,00,000.

Revision of TDS Returns Form

If any errors are noticed after the submission of the return, a correction statement can be filed by the deductor. The charges would also be required to be again paid in case a Revised Return is filed by the deductor and it can be filed multiple times to incorporate no. of changes.

In case you are confused about TDS Return Filing as a deductor, feel free to consult the experts at LegalRaasta. You can get comprehensive assistance with our TDS Return Filing Software which supports TDS on Salary payments Form24Q, Rent, Interest, Commission and other Non-salary transactions (Form 26Q), NRI (Form 27Q) and TCS Form27EQ.