TDS Return Filing
What is TDS?
Tax Deducted at Source (TDS) is a government mechanism where tax is deducted by the payer before making certain payments such as salary, rent, professional fees, interest, and commissions. This ensures tax is collected upfront, making compliance easy and timely.
Why File TDS Returns?
- Legal Mandate: Deductors must file TDS returns quarterly as per the Income Tax Act, 1961.
- Transparency: Provides clear documentation of taxes deducted and paid to the government.
- Tax Credit: Enables recipients to claim TDS as credit against their total tax liability.
- Avoid Penalties: Timely filing helps avoid fines, interest, and legal hassles.
- Smooth Refunds: Correct filing speeds up any tax refund process.
Who Should Deduct and File TDS?
- Individuals, companies, firms, HUFs, and entities liable under the Income Tax Act.
- Deductors registered with a TAN (Tax Deduction Account Number).
- Those making payments exceeding thresholds (e.g., rent above ₹2,40,000, contractor fees over ₹30,000).
| Quarter | Period | Return Due Date |
|---|---|---|
| Q1 | April – June | 31st July |
| Q2 | July – September | 31st October |
| Q3 | October – December | 31st January |
| Q4 | January – March | 31st May |
Penalties for Late Filing or Payment
- Interest of 1% per month on late deduction
- Interest of 1.5% per month on late deposit
- ₹200 per day late filing fee (up to TDS amount)
- Penalties up to TDS amount for non-compliance
Common TDS Return Forms
- Form 24Q:Salary payments
- Form 26Q: Non-salary payments
- Form 27Q: Payments to Non-Residents
- Form 27EQ: Tax collection at source
Our Hassle-Free TDS Filing Process:
Gather Documents
TAN, PAN details, challan info, previous returns.
Choose the Right Form
Based on the nature of payments.
Prepare Return
Use the official TDS Return Preparation Utility (RPU).
Validate File
Run it through the File Validation Utility (FVU).
Submit Online
Upload validated file on the Income Tax e-filing portal.
Get Acknowledgement
Keep the receipt for your records.
Why Choose The Consulting Crew?
Expert Guidance
Our professionals simplify every step.
Latest Compliance
We stay updated with all tax regulations.
Timely Filing
Avoid penalties and delays effortlessly.
All-in-One Service
From calculations to submission and corrections.
Stress-Free Experience
Focus on your business, we handle the rest. Our professionals simplify every step.
