TDS Return Filing - Overview
Any individual or entity making a payment is required to deduct TDS if the payment exceeds a prescribed threshold limit at the rates prescribed by the tax department
Every individual whose TDS has been deducted can go for his/her TDS return filing. Step to file TDS return filing includes the submission of documents such as TAN , PAN, amount deducted, TDS payment, mode of payment, etc. TDS stands for Tax deducted at Source. As per the provision Income-tax Act, a tax-deductor shall furnish a periodical TDS statement (Quarterly) containing the particulars of deduction of tax formed during the quarter by the determined due date. The Department of Income-tax decides the rate at which the TDS will be deducted. It is the responsibility of the Deductor to deduct the TDS before making the payment and deposit it to the government
Benefits of Filing TDS return
Tracking of Records
Use of TDS in Nation’s Welfare
Fewer Burdens of Taxpayer
Facilitates Smooth Collection of Tax
Documents Required For Registration
- TAN and PAN of the taxpayer
- Date of Incorporation of the Business.
- Tenure for which the TDS is to be filed
- Last TDS filing details
- Form 16 and a Salary Certificate received from the Employer by the employee
Process To Register
- Visit the website http://incometaxindiaefiling.gov.in/
- Login using TAN
- Upload TDS.
- Submit details and validate
- Validate using DSC or EVC and submit
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