Salaried / Individual taxpayers whose income does not exceed Rs.50 lakhs are required to file their income tax return in Form ITR 1.
Get your TDS return filed by our expert starting at just Rs. 1499/-
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TDS i.e. Tax Deducted at Source,is an indirect system of deduction of tax according to the Income Tax Act, 1961 at the point of generation of income. Tax is deducted by the payer and is remitted to the government by him on behalf of the payee.
TAN or Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government. Salaried Individualsare not required to obtain TAN or deduct tax at source. All the business entities have to deduct tax at source while making certain payment like salary, vendor payments , payment of rent exceeding Rs.1,80,000 per year, etc. Legal Munshi can help you obtain TAN, click here to register. Those entities who have obtaied TAN must file TDS return which are due quartely. File your TDS return with Legal Munshi.
However, TDS Return is a mandatory quarterly statement which has to be submitted to the Income Tax Department of India if you are a deductor. This statement contains information and details of TDS deducted and deposited by you.
It is the duty of the person who is making payment to someone for specified goods or services to deduct TDS and file TDS return. An employer or company that has obtained valid TAN - Tax Collection and Deduction Account Number can file for online TDS return. Few examples of the eligible categories include:
The due date for Payment of TDS deducted is seventh of the next month. For March, it is 30th April of the next year. The due date for TDS filing is as follows:
On or before 31st July
On or before 31st October
On or before 31st January
On or before 31st May
In case of late filing or failure to file the returns by the individual or the company following types of penalties can be imposed:
There are different TDS Forms set depending on the income of the deductee or the type of deductee who pays the TDS. The different TDS forms are listed below as follows:
A steady inflow of income to the government.
Facilitates a smooth collection of taxes used for welfare.
>No burden of paying tax lump sum as the payment is done every three months for the whole year
Non Furnishing of PAN :
TDS Certificate :
Claiming TDS :
You may refer to the Eligibility section before return filing.
For further queries kindly refer our FAQ section
Arrange for CORRECT TAN and PAN card of entity whose return is to be filied.
Arrange for all the documents whose list will be shared by our expert along with primary email and phone number for communication purposes by concern governement department.
Based on the documents shared our expert will compute and complie TDS value based on category for that financial year.
Based on computation and approval from you, TDS will be filed.
Once the filing is done,our expert will provide you with acknowledgement.
You have to provide the details in the form.
Once you have provided the details, our expert will guide you with the all the documents required for return filing process.
After submission and upon successful verification of all the required documents, one of our experts will do the return filing.
Once the filing is done we will inform you and provide the necessary documents.
Form 24Q is the quarterly statement of the payment made to the employee and the TDS deducted from it by the deductor.
Eligible Deductor :
Due Dates :
Interest :
Filing Fee :
Penalty :
According to Section 271H, besides the fee that is paid under Section 234E, AO may charge a penalty of minimum Rs. 10,000 to Rs. 1,00,000. However, there is no penalty for the following cases:
Form 26Q is the quarterly statement of the payment made other than salary by the deductor. The form mentions the total amount that is paid during the quarter and the TDS amount that has been deducted.
Eligible Deductor :
Due Dates :
Interest :
Filing Fee :
Penalty :
In addition to the penalty fee paid under Section 234E, AO charges a penalty of a minimum of Rs. 10,000 and a maximum of Rs.1,00,000. However, no penalty would be charged under Section 271H if:
Form 27Q is the quarterly statement of the payment made and the TDS deducted on payments made to NRI by the deductor.
Eligible Deductor :
Due Dates :
Form 27eQ is the quarterly statement of the payment made and the TDS deducted by corporate, government collectors and deductors.
Payments Covered :
Due Dates :
TDS return filing for one quarter. Inclusive of government fee and GST.
TDS return filing for two quarters. Inclusive of government fee and GST.
TDS return filing for four quarter. Inclusive of government fee and GST.
What is TDS?
What are the benefits of TDS Filing?
How do the file TDS return?
What documents are required for TDS return filing?
How to proceed for TDS Return Filing?
What are the due dates for return filing?
What are the types of TDS forms ?
Is PAN Mandatory ?
How do I deposit TDS in the central government?
What is TDS justification report?
What is TDS form 24Q ?
What is TDS form 26Q?
What is TDS form 27Q?
What is TDS form 27EQ?