TDS return Filings is compulsorily required each quarter by all people and elements who have deducted assess at source
TDS return is the statement filed with the income tax department by deductors or collectors of TDS/TCS stating the details of amounts deducted/collected along with the PAN number, date and other essential details regarding the transaction.
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We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.
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PAN of the deductors has to be given by non-Government deductors. It is essential to quote PAN of all deductees.
Following are the forms for TDS/TCS returns and their periodicity
|Form No. 24Q||Quarterly statement for tax deducted at source from ‘Salaries’||Quarterly|
|Form No. 26Q||Quarterly statement of tax deducted at source in respect of all payments other than ‘Salaries’||Quarterly|
|Form No. 27Q||Quarterly statement of deduction of tax from interest, dividend or any other sum payable to non-residents||Quarterly|
|Form No. 27EQ||15 May||Quarterly statement of collection of tax at source|
Penalty of Rs.200 per day upto the date of filing of return from the due date is levied not exceeding the amount of TDS for that quarter. Penalty for non-filing of TDS return for more than one year, may extend to Rs.1 lakh.
The following are the various types of corrections that you can make to an accepted regular TDS/TCS statement
Update deductor details such as Name, Address of Deductor. This type of correction is known as C1.
Update challan details such as challan serial no., BSR code, challan tender date, challan amounts etc. This type of correction is known as C2. Update/delete /add deductee details. This type of correction is known as C3.
Add / delete salary detail records. This type of correction is known as C4.
Update PAN of the deductee or employee in deductee/salary details. This type of correction is known as C5.
Add a new challan and underlying deductees. This type of correction is known as C9.
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