TDS return filing is a quarterly statement submitted online to the Income Tax Department, detailing tax deducted at source. It includes TAN, PAN, tax paid, and challan details. Organizations with a valid TAN must comply to avoid penalties.
Meaning and Applicability
TDS Return Filing Explained : What You Need to Know
Apart from depositing the tax the deductor also has to do TDS return filing. TDS return filing is a quarterly statement that is to be given to the Income Tax department. It is necessary to submit the TDS returns on time. TDS return filing can be done completely online. Once the TDS returns are submitted the details will come up on Form 26 AS.
Details to be mentioned at the time of filing TDS Return
- TAN of the Deductor
- PAN of the deductor and the deductee.
- Amount of tax that is paid to the government
- TDS challan information
- Others, if any.
Eligibility Criteria
TDS return filing is done by organizations or employers who have availed a valid tax collection and deduction number (TAN). Any person who is making specified payments mentioned under the Income Tax Act is required to deduct the taxes at the sources and they are needed to deposit the tax within the stipulated time for making the payments.
Forms & Due Date for TDS Return filing
TDS forms are depending on the income of the deductee or the type of deductees paying taxes. The TDS forms are mentioned below:
| Form | Periodicity | Particulars |
|---|---|---|
| Form 24Q | Quarterly | The quarterly statement for TDS from “Salaries” |
| Form 26Q | Quarterly | Quarterly statement of TDS in respect of all payments other than “Salaries” |
| Form 27Q | Quarterly | Quarterly statement of TDS from interest, dividend, or any other sum payments to non-residents |
| Form 27EQ | Quarterly | Quarterly statement of collection of tax at source |
The due date for the payment of the TDS deducted is the seventh of the next month.
| Quarter | Period | Last Date of Filing |
|---|---|---|
| 1st Quarter | 1st April to 30th June | 31st July 2024 |
| 2nd Quarter | 1st July to 30th September | 31st October 2024 |
| 3rd Quarter | 1st October to 31st December | 31st Jan 2025 |
| 4th Quarter | 1st January to 31st March | 31st May 2025 |
