TDS Return Filing
- Art Teacher
- London, UK
- 5-7 Hrs
Ever wondered what happens to the tax that’s deducted from your salary, interest income, or contractor payments? That’s TDS – Tax Deducted at Source, and filing its return is not just a compliance formality, it’s a legal responsibility. Any individual or entity who deducts tax must file TDS returns quarterly, specifying how much tax was deducted, when, and from whom. Whether you’re a business owner, government department, or even an individual paying rent over ₹50,000/month, you may be liable to file a TDS return. Filing the return not only ensures you’re on the right side of the law but also enables the deductees to claim credit in their ITR.
- TAN of the deductor (mandatory)
- PAN of deductor and deductees
- Challan details (Challan Identification Number – CIN)
- Deductee details
- Nature of payment (Salary, interest, commission, rent, etc.)
- TDS Payment proofs
- Form 16 / 16A (generated post-return)
- Digital Signature Certificate (if applicable)
- Deduct TDS at applicable rates & deposit with govt. using Challan ITNS-281
- Register/login at TRACES and TIN NSDL
- Prepare return using RPU (Return Preparation Utility) and validate using FVU
- Submit return online (via TIN-FC or NSDL portal or via DSC for certain deductors)
- Generate Form 16/16A for the deductees after successful filing
- Revise return if there are any errors (e.g., incorrect PAN, challan mismatch)
FAQs
TDS return filing is mandatory even if TDS is deducted only once in a financial year.
TDS returns can be revised to correct errors in PAN, TDS amounts, deductee details, challan details, etc.
DSC is mandatory for filing TDS returns for companies, LLPs, and certain specified entities; others can e-verify via Aadhaar OTP or other modes.
FVU (File Validation Utility) is a software tool provided by NSDL/Income Tax Department to validate TDS return files before uploading, ensuring the file format and data correctness.
PAN errors in deductee data can cause TDS mismatches, leading to non-credit of TDS to the deductee and potential penalties for the deductor.
PAN errors in deductee data can cause TDS mismatches, leading to non-credit of TDS to the deductee and potential penalties for the deductor.