With Team KabraVaibhav you can manage TDS Return Filing
Let our expert help you to deduct, prepare & file your TDS Return, and make sure your TDS compliance done right.
Any person or business who deducts TDS needs to file a TDS return. It is filed with Government every quarter, the purpose of it is to inform the TDS deducted on the payments made by the deductor and also the TDS deposited by the deductor in the particular quarter. TDS return is filed online or offline at TIN-NSDL Center. TDS refund is possible only if compliance of filing is completed by party deducting TDS. The smart way is to consult Team KabraVaibhav to ensure you are complying with TDS law and filing your TDS return in a correct manner.
After payment of TDS every month you receive a challan, this TDS paid Challan is used at the time of return filing, where you give details of TDS deducted and paid by you. TDS Return filing for every quarter is mandatory. The Return form of TDS is prescribed by the Government. The filing has to be done as per TDS due dates specified. Non-filing of return as per TDS provisions attracts a penalty. Noncompliance to file TDS provisions gets reported to authorities through financial reporting. The objective is to keep a check on TDS payment status and compliance with the provision of TDS.
This form is filed by an employer in case TDS is being deducted from Salary. It contains the detailed information of Salary Paid and Credited to the account of the employee along with the TDS deducted and paid. TAN is required to file this return.
This form is filed for any other case like Interest payment, Commission payment, Professional Fees payment, Technical Fees payment, Contractual payment, Rent payment, etc. made to Resident Indian. TAN is required to file this return.
This form is filed for any other case like Interest payment, Commission payment, Professional Fees payment, Technical Fees payment, Contractual payment, Rent payment, etc. made to Non-Resident. TAN is required to file this return.
This form is filed when payment is made for the transfer of Immovable Property and TDS is being deducted. This is a challan cum statement, i.e. no separate TDS return is required to be filed after payment of TDS. TAN is not required for this return.
This form is filed an individual or a HUF who is not liable to audit u/s 44AB and making monthly rent payment of more than ₹ 50, 000. Payment of TDS on Rent of Property is made u/s. 194-IB, . It is a challan cum statement. TAN is not required for this return.
This form is filed by an Individual or a HUF, who is not liable to audit u/s 44AB, for payment made u/s. 194M to Resident Contractors, Payment of Commission, Brokerage charges, and Professional Fees. It is a challan cum statement. TAN is not required.
An individual or a business makes a payment and if such payment exceeds the limit specified as per the income tax act, the payer has to deduct tax before making the payment, this portion of the tax is called TDS. Basically here the person making the payment is collecting tax on behalf of the Government. The party which deducts tax and makes the payment is the deductor and the party receiving payment is deducted. Every party deducting TDS shall mandatorily do the TDS filing or online TDS Filing.
Party whose tax has been deducted can claim this TDS deducted as Refund for the financial year in which TDS has been deducted. TDS refund can be claimed at the time of ITR Filing. In order to claim a TDS refund, it is important that the party which has deducted your TDS has done the proper TDS filing.
» What is TDS return filing?
TDS is the abbreviation that is used for Tax deducted at source. As its name suggests, it’s a system that was introduced with the motive of Income-tax collection at the very source of income generation. According to the Income-tax Act, any individual/company is required to deduct income tax at the prescribed rate if the payment exceeds a certain threshold limit.
» What is the Interest rate applicable for TDS Payments?
» What is TDS return filing due date?
For Form 24Q and Form 26Q:
» What is the penalty for non-filing or late filing of TDS return filing?
