Online TDS Return Filing Online

The abbreviation TAN stands for Tax Deduction and Collection Number. It is a special ten-digit alphanumeric number used to file TDS Returns. Before the month of TDS deduction, each person must submit an application for tax deduction allocation. If someone doesn't apply for or doesn't have a TAN, they could face fines of up to Rs. 10,000.

Tax Deducted at Source (TDS) is a tax collection mechanism in India, under the Income Tax Act of 1961, in which the tax is collected at the very source of income i.e. the point at which the income is generated. Under this system, an individual or deductor who is responsible to make payment of prescribed nature to any other individual or deductee shall deduct tax at source from deductee’s income and deposits the same into the Central Government’s account on behalf of the deductee. TDS is one of the measures against tax-evasion practices and results in quick and efficient tax collection.

Yes, submitting a PAN is required of both employees and deductor's.

NSDL e-Gov provided Return Preparation Utility can be used to prepare e-TDS/TCS return. This software is available for free. Besides, third party software can also be used for the e-filing of TDS/TCS like Gen TDS software. Gen TDS is a certified software by SAG Infotech which can be used to perform any TDS related tasks accurately and quickly. Alike software is listed on the NSDL e-Gov -TIN website i.e. www.tin-nsdl. com.

A fine of Rs. 200 is assessed for each day that a TDS return is not filed in accordance with Section 234E. Additionally, the fine should not be higher than the cost of completing a TDS return. According to section 271H, fines range from a minimum of Rs. 10,000 to a maximum of Rs. 1 lakh.

It is a distinct seven-digit number that the RBI has given to each bank branch. The bank branch code of the bank branch where the TDS is deposited must be mentioned by the applicant.

Through the NSDL website, anyone can submit their TDS return online. You can seek our aid in the event of any disagreement or uncertainty.

Any person who is having payment for prescribed goods or services required to file the TDS Return. TDS is not needed to be subtracted by individuals and HUF or Hindu Undivided family.

No, the Form 26Q is not filed separately. Along with Form No. 26Q, a separate annexure has to be submitted for all the payments made to occupants.

Forms 24Q, 26Q, 27Q, 27EQ, 27D are all income tax return forms to declare Tax Deducted at Source (TDS) and have to be submitted to the Income Tax Department. Each one has a different purpose but connected with income tax.