TDS RETURN

TDS (Tax Deducted at Source) return is a form filed with the government by taxpayers in India, where businesses, individuals, or other entities who have deducted TDS on payments made to others (like employees, contractors, etc.) report it to the Income Tax Department. This ensures that the amount deducted is credited to the payee's tax account and is properly accounted for.

There are different types of TDS returns, such as:

1. Form 24Q: For TDS on salary payments.
2. Form 26Q: For TDS on payments other than salary (e.g., interest, rent, professional fees).
3. Form 27Q: For TDS on payments to non-resident Indians (NRIs).
• Form 27EQ: For TCS (Tax Collected at Source) returns. The TDS return includes details of:
4. Amount of TDS deducted PAN of the deductor and deductee
• Challan details of the tax deposited
• TDS returns should be filed quarterly, and the due dates for filing depend on the quarter Quarter 1 (April to June): July 31
• Quarter 2 (July to September): October 31
• Quarter 3 (October to December): January 31
• Quarter 4 (January to March): May 31