TDS Return Filing
TDS (Tax Deducted at Source) Return Filing is the quarterly submission of details about tax deducted on payments like salaries, rent, contracts, and professional fees. It's mandatory for anyone required to deduct TDS the return records who was paid, how much tax was deducted, and confirms it's been deposited with the government.
WHAT YOU NEED
Requirements for TDS Return Filing
Who must file
- ✓Businesses and individuals required to deduct TDS on payments
- ✓Applicable to salary payments, rent above ₹50,000/month, professional fees, contractor payments, etc.
Documents Required
For Individuals:
TAN of the deductor- PAN of deductor and deductees
- Challan details of TDS deposited
- Payment records for the quarter
Good to know
- Late filing penalty: ₹200 per day under Section 234E
- Due dates: 31st Jul, 31st Oct, 31st Jan, 31st May (for each quarter)
