TDS Return Filing
Mandatory Quarterly Compliance for Tax DeductorsUnderstanding Tax Deducted at Source (TDS)
**TDS** is a mechanism where the person making a specified payment (e.g., salary, professional fees, commission, interest) is required to **deduct a certain percentage of tax** and deposit it with the government.
Filing the **TDS Return** is a mandatory **quarterly** statement submitted to the Income Tax Department, detailing all transactions where TDS was deducted and deposited. Failure to file, late filing, or incorrect filing leads to significant penalties and interest.
Key Filing Requirements
- **Mandatory:** Quarterly filing (Forms 24Q, 26Q, 27Q, 27EQ)
- **Deadline:** 31st of the month following the quarter end.
- **Penalty for Delay:** ₹200 per day until default is fixed.
- **Requirement:** Valid TAN (Tax Deduction and Collection Account Number).
Cashynomy Covers All TDS/TCS Return Types
Form 24Q (Salaries)
Quarterly statement for tax deducted from employee salaries.
Form 26Q (Other Payments)
Quarterly statement for tax deducted from payments other than salaries (e.g., rent, commission, professional fees).
Form 27Q (Non-Resident)
Quarterly statement for tax deducted from payments made to Non-Resident Indians (NRIs).
Form 16/16A Issuance
Mandatory annual/quarterly issuance of TDS certificates to employees and vendors.
TDS Return Filing Package (Quarterly)
Ensure timely and accurate TDS filings for every quarter to avoid penalties of ₹200 per day:
Quarterly TDS Compliance
- ✔ Quarterly Data Collection & Validation
- ✔ Calculation of TDS/TCS Liability
- ✔ Generation of Challans for Deposit
- ✔ E-Filing of Form 24Q / 26Q / 27Q
- ✔ Issuance of Form 16 / 16A Certificates