Basic about TDS (Tax Deducted at Source) Return
Every common man is afraid from the TDS because of the hard process of deduction, payment, Return, Statement etc. But we will try to make it simple as every common man can play with TDS. In this article we will discuss about different concept of TDS. We have covered all improvement by finance act (No.2) 2014, so you can say that the below article will be applicable for F.Y.2014-15 or A.Y.2015-16.
Who are responsible to submit e-TDS Return/Statement?
The person who subtract TDS is responsible to provide eTDS Return. It is necessary to file TDS Return within time as given below; otherwise they are responsible to pay fine for non-submitting of e-TDS Return. The following persons are required to file e-TDS return quarterly.
- Company
- Persons whose accounts Audited (See limit for Audit of Accounts)
- Govt. Officers
Step by Step Preparation of e-TDS Statement
Here we have provided a simple guide and steps to file TDS return online on incometaxindia.gov.in website. TDS due date for filing the return is also given in below table.
1) TDS Return Software:
To prepare TDS return, first of all you need the software for the format given by Income tax Department. You can find the data format on the official website of Income Tax Department: www.incometaxindia.gov.in.
There is also software to validate the file which is prepared by TDS software. All software has its help file to prepare TDS return/statement. As we have experience, all software required to enter three entries after creation of master of payees/deductee and payers/deductors.
(a) Credit or Paid Amount
(b) TDS deducted on that amount
(c) Challan detail of TDS payment
2) After Preparing and validating the .fvu file (e-TDS file after preparation), it will generate form 27A. You should Printout two copies of 27A.
3) The authorized signatory should sign on it.
4) Copy the .fvu file to Pen Drive or burn the CD. But confirm form your nearest TIN Facilitation centers for facility of Pen drives.
5) Now go to the TIN center with CD/Pen Drive and form 27A.
6) Pay the fee for process of TDS return (Rs.31 up to 100 deductees, Rs. 185 for maximum 1000 and minimum 101 deductees, Rs. 618 for more than 1000 deductees)
7) Now take the provisional receipt from TIN Center and you have done.We will cover the other aspects for return of TDS like Correction in TDS e-Return, how to use the software, Download online statements and TCS returns.
Table for Due Dates to File TDS Returns
|
QTRs.
|
Due Dates in Case of Deductor (Office of the Government)
|
Due Dates In Other Cases
|
|---|---|---|
| 1st QTR ending on 30th June | 31st July | 31st July |
| 2nd QTR ending 30th September | 31st October | 31st October |
| 3rd QTR ending 31st December | 31st January | 31st January |
| 4th QTR ending 31st March | 31st May | 31st May |
Charges for Submission of TDS Return
| No. of Deductee Records in TDS Return | Upload Charges (excl. of Service Tax) |
| Returns having upto 100 records | Rs. 31.15 |
| Returns having 101 to 1000 records | Rs. 178 |
| Returns having more than 1000 records | Rs. 578.50 |
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