The sections 192 to 196 of Income Tax Act, directs “Any person responsible for paying any income chargeable to tax” to deduct income-tax thereon at the rates specified respectively. All those persons who are required to deduct tax at source (TDS) are required to obtain TAN number. Entities having TAN number must e file TDS returns. If in a quater ther is no TDS deducted by the Assessee then no TDS return will be filed by him.
We provide the TDS Return Filing services to all types of Assesses at reasonable cost .
TYPES OF TDS FORM
Different TDS Forms have been prescribed depending on the purpose of deduction of TDS. The various TDS Forms are as follows:
Form 24Q - Statement for tax deducted at source from salaries
Form 26Q - Statement for tax deducted at source on all payments except salaries
Form 27Q - Statement for deduction of tax from interest, dividend, or any other sum payable to nonresidents
Form 27EQ- Statement of collection of tax at source
The quarterly return statements should be accompanied by a signed verification in Form No. 27A. It is a summary of TDS/TCS returns which contains control totals of ‘amount paid’ and ‘income tax deducted at source.
DUE DATE FOR TDS RETURN
The Due Date for filing TDS Return (both online as well as physical) is as follows:
Quarter Due Date Form 24Q& Form 26Q Form 27Q Form 27EQ
April to June 15th July 15th July 15th July
July to Sept 15th Oct 15th Oct 15th Oct
Oct to Dec 15th Jan 15th Jan 15th Jan
Jan to March 15th May 15th May 15th May
LATE FILING OF TDS RETURN
As per Section 234E applicable wef 1st July 2012, in case an assessee fails to submit the TDS Return before the due date, he shall be liable to pay a penalty of Rs. 200 per day till the time the default continues. However, the total penalty computed @ 200/day should not exceed the total amount of tax deducted.
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