TDS return filing is a process by which we report the Income tax department about how much Tax we have deducted at source. Businesses have to file TDS returns on a quarterly basis and monthly payments before the due date.
We need to show some details before filing for TDS returns, the details are following :-
Tax deducted by the payee
Pan number of the person or company whose tax has been deducted
Nature and amount of payment (like salary, rent, professional services etc.)
Why is TDS Return Filing Important for Businesses?
To avoid late fees (₹200 per day under Section 234E) and penalties (up to ₹1,00,000 under Section 271H)
To ensure compliances of Income tax Act,1961
To issue form 16 and form 16 A to the employees or vendors
To ensure that the business will get the expense allowance
Documents Required for TDS Return Filing
These are the following documents required to file TDS return online for the businesses
Tan Number
PAN number of the diductor and the deductee’s
Type of business entity
Transactions record
Type of Transactions
Salary sheets (for Form 24Q)
Due Dates to file Quarterly TDS Return Online
TDS returns are filed quarterly online:
New TAN Registration – Quick and hassle-free online application
TAN Correction/Update – Modify name, address, or other details
Duplicate TAN Rectification – Merge multiple TANs into one
TDS Compliance Support – End-to-end assistance with TDS filing and reporting
Documents Required for TAN Registration:
April to June: 31st July
July to September: 31st October
October to December: 31st January
January to March: 31st May
And monthly payment of the deductions needs to report to the income tax department by 7th of next month
