About TDS Returns

A TDS Return is a summary of all the transactions related to TDS deducted during a quarter. TDS Return is a quarterly statement submitted by the deducted to the Income Tax Department. The statement shows a summary of all the entries for TDS Deducted by the deducted and the TDS paid by the deducted to the Income Tax Authority. The TDS Return statement includes details like the PAN number of the deducted & the deducted, all the detailed particulars of the TDS paid to the government, and the TDS Challan information.

Due Dates for filing TDS Returns

Quarter	Quarter Period	Last Date of Filing TDS Returns
1st Quarter	From 1st April to 30th June	31st July
2nd Quarter	From 1st July to 30th September	31st October
3rd Quarter	From 1st October to 31st December	31st January
4rd Quarter	From 1st January to 31st March	31st May

Due Dates for filing TCS Returns

Quarter	Quarter Period	Last Date of Filing TDS Returns
1st Quarter	From 1st April to 30th June	15th July
2nd Quarter	From 1st July to 30th September	15th October
3rd Quarter	From 1st October to 31st December	15th January
4rd Quarter	From 1st January to 31st March	15th May

TDS Return Forms

The followings are the TDS return forms and the purpose for which they are used:

Form Number	Purpose
Form 24Q	TDS from salaries
Form 26Q	TDS on all payments apart from salaries
Form 27Q	Subtraction of tax from dividends, interest, or any other amount payable to non-residents
Form 27EQ	Collection of tax at source

Form 24Q

It is used for preparing eTDS returns for the TDS deducted on salary under Section 192 of the Income Tax Act, 1961
It has to be submitted on a quarterly basis by the deducted.
It contains details like salaries paid and the TDS deducted from the employees by the employer.
It contains 2 annexures namely Annexure-I and Annexure II. Annexure-I contains details of the deducted, deducted and challans, while Annexure II contains the salary details of the deducted
Annexure-I is to be submitted by the deducted for all four quarters of the financial year.
Annexure II need not be submitted in the first three quarters of the financial year but has to be furnished and submitted in the fourth quarter of the financial year with details of the employees’ salaries for the entire financial year.

Form 26Q

It is to be submitted for tax deduction at source for all the payments received other than the salary.
It is submitted on a quarterly basis by the deducted and is applicable for tax deducted at source under sections 200(3), 193, and 194 of the Income Tax Act of 1961.
The income on which the tax is deducted at source includes interest on securities, dividend securities, professional fees, directors’ remuneration, etc.
It is compulsory to furnish PAN by the deductors who are non-government deductors. For government deductors “PANNOTREQD” has to be mentioned on the form.

Form 27Q

It is applicable for payments made to non-resident Indians and foreigners other than salary.
It has to be filled in for the declaration of Tax Deducted at source for the NRIs and Foreigners.
It is submitted on a quarterly basis by the deductor and is applicable for tax deducted at source under section 200(3) of the Income Tax Act of 1961.
The income on which the tax is deducted at source includes interest, bonus, any additional income, or any other sum owed to non-resident Indian or foreigners.
It is compulsory for non-government deductors to furnish PAN. For government deductors, the code “PANNOTREQD” has to be mentioned on the form.

Form 27EQ -TCS

It is a quarterly statement that furnishes the details and information of the tax collected at source as per section 206C of the Income Tax Act of 1961.
Form 27EQ is submitted on a quarterly basis. In this form, it is mandatory to furnish TAN.
It is the statement to show the Tax Collected at Source (TCS), which is the tax collected by the seller. When a buyer purchases certain goods or commodities, the seller collects the tax from the buyer through the TCS route. This tax is collected on the payment received from the buyer either in cash, credit, cheque, demand draft, or from any other mode of payment.
It is to be furnished by corporate deductors and collectors but not by government deductors and collectors. It is compulsory to furnish PAN to the deductors who are non-government deductors. For government detectors, the code “PANNOTREQD” has to be mentioned on the form.

How do file TDS Return?

First of all choose the relevant Form applicable to your case (E.g. Form 24Q, Form 26Q, Form 27Q, etc.)
You must hold a valid TAN and it should be registered for e-filing.
Your TDS statements should be prepared using Return Preparation Utility (RPU) and validated using File Validation Utility (FVU.
If you want to file a return in physical form, then each e-TDS return saved in a CD/Pen Drive has to be submitted along with a signed copy of Form 27A to TIN-Facilitation Centers (TIN-FC) established by NSDL.
You should have a valid DSC registered for e-filing if you wish to upload using DSC.

How to upload TDS statements on income tax portal

Go to http://incometaxindiaefiling.gov.in/and click on ‘Login Here’.
Enter your login credentials and click on ‘Login’. Your user ID will be your TAN.
Once you’ve logged in, click on the ‘Upload TDS’ option under the TDS tab.
You will be provided with a form where you will need to select the correct details. Once the details are selected, click on Validate.
The returns can be validated through DSC or Digital Signature Certificate.
To upload using DSC, first, upload the TDS zip file and also attach the digital signature file. Then, click on Upload.
Once the TDS statement is uploaded, a success message will appear on the screen and a confirmation mail will be sent to your registered email ID.

Points to be remembered while filing your e-TDS Return:

The quarterly statement should be accompanied by a filled and signed (by any signatory authority) verification Form 27A in physical form.
Each return should be in CD/Floppy. it should be scattered over multiple floppies.
Return should be compressed only by using WinZip 8.1 or Zip fast 3.0 compression utility to ensure easy and smooth acceptance of the file.
Label indicating TAN, name of deductor/ collector, period to which return relates along with the form no is attached on each CD for the purpose of easy identification.
There should not be any overwriting in Form 27A. if there is any it should be rectified by any authorized signatory.
All deductors must register themselves at https://www.tdscpc.gov.in (TRACES Portal).
Quote correctly PAN of the deductee so that they get their due tax credit.
Quote correctly CIN of the Challan to avoid any short payment default.
Non-quoting of PAN or TAN in TDS statement may lead to the levy of penalty.
TDS certificate downloaded from the TRACES system is the only valid certificate.
If there is no transaction liable to TDS/TCS to report for the quarter, do intimate the same at TRACES Portal using the “Declaration for Non-filing” functionality to avoid notice for non-filing of TDS statement.

TDS Return Consequences for late filing or Non-Filing of TDS return:

Penalty for Late filing of TDS return:

As per Section 234E, in case an assessee fails to file his TDS/TCS return before the due date, he shall be liable to pay a penalty of RS. 200 per day till the time the default continues. But however the total penalty computed should not exceed the total amount of tax deducted.

Penalty for Non- filing of TDS return:

If any assesses is required to furnish his TDS/TCS return and due to any reason, he fails to submit that same within 1 year from the due date of filing of return or if incorrect return has been filed, penalty levied in this case will be minimum Rs.10,000 but not more than Rs.1,00,000