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Pankaj Tyagi
| Updated: 01 Nov, 2018 | Category: TDS Return

How to File TDS return in India?

File TDS Return

TDS return filing is a legal mandate for all taxpayers who come under the tax slab as underpinned by the IT department. All eligible taxpayers should mandatorily e-file the TDS return via the Income-tax e-filing portal. All individuals engaged with tax deduction activities must submit the TDS return via an aforesaid online portal. After successful submission of TDS return, the details shall come upon the payee’s Form 26AS.

Common details that a taxpayer should provide at the time of filing a TDS return include:

  • The Permanent Account Number of the deductee and deductor.
  • Information enlisted on the TDS challan.
  • The tax amount paid to the IT department[1].

Application for new PAN’s allotment can be made online via a dedicated government portal. Requests for modification or correction in PAN detail or requests for reprint of PAN card can be made online.

Taxpayers can use the following URLs for filling online applications:

  • http://tin.tin.nsdl.com/pan/index.html
  • https://www.utiitsl.com/

Online Procedure to be Used by Taxpayers to file TDS Return

The following is the procedural instruction to file a TDS return on the government portal:

  • First, aptly fill out Form 27A with the required details. In case the physical copy of the form is filled, it should be authenticated along with the e-TDS return that has been filed online.
  • Next, the tax deducted at source and the amount paid must be accurately filled and tallied in their respective forms.
  • The company’s TAN that is filing the TDS return should be enclosed in Form 27A. The verification process will become intricate if the inaccurate TAN is mentioned.
  • The TDS returns should include the correct challan number, payment modes, and tax details. If any non-legit details are cited in the date of payment or challan number, the chances of mismatching will become prominent, and taxpayers might have to follow the whole filing procedure again.
  • The taxpayer must use the basic form for filing e-TDS as it would ensure consistency. The 7-digit BSR must be mentioned so that the tallying becomes seamless.
  • Physical TDS returns should be furnished at the TIN-FC. The NSDL administers all TIN-FCs. In the case where electronic filing of returns is done, they can be submitted on the web-based portal of the NSDL TIN. But, a level 2 DSC should be used by the deductor in the case where TDS returns are filed electronically.
  • In case all the submitted details come out authentic, a provisional receipt or a token number will be received. The acknowledgement serves as confirmation proof about the successful filing of TDS returns. In case of rejected TDS returns, a non-acceptance memo and the reasons for the same shall be issued by the authority. In such scenarios, the taxpayer must re-file the TDS return.

Eligibility criteria provided by IT Department to file TDS Returns

Companies and employers having an authentic TAN can file TDS returns. TDS must be filed for the following payments that come under IT Act.

  • Salary payment
  • Any income generated via lotteries and puzzles or any similar games
  • Insurance commission
  • Income generated via income on securities
  • Income coming from gambling such as horse races
  • A payment that has been deposited in National Savings Scheme and other related schemes

Procedure for validation of TDS Returns

Here’s how the taxpayer can validate the TDS Returns

  • First, enclose the required details in the file.
  • Next, update the same on the validation utility tool that exists on the portal.
  • In case of any error, the File Validation Utility, i.e. FVU, will report the same.
  • The required changes must be done in the file before forwarding it via the verification process again.
  • Revised TDS Return
  • If the taxpayer made some errors while filing the TDS return, the tax amount paid to the authority would not appear on Form 16, Form 16A, and Form 26AS.
  • Under such events, the TDS Returns should be filed again.

What are the Mandatory Requirements to File Revised TDS Returns?

The mandatory requisites to file revised TDS return are listed below:

  • A taxpayer can only file revised TDS returns when the TIN central system validates the original returns.
  • The return’s status can be checked by rendering the PAN details and Provisional Receipt Number on the NSDL portal.
  • The latest TDS statement shall be required to prepare the revised TDS return. The consolidated statement is available on the TRACES portal. But, the provisional receipt or token of the original returns must be cited to download the updated statement.
  • The preparation of the revised TDS Return must be done using the latest TDS statement. The consolidated statement can be downloaded from the TRACES website. However, the token or provisional receipt number of the original returns must be entered to download the latest statement.

Conclusion

Let us know if you need some clarification on how to file a TDS return electronically. You can also prompt us to avail services the same. The TDS return filing is mandatory for eligible taxpayers. Thus, penalties would be imposed on the defaulters in the case of non-filing.

Read our Article:What are the Online Methods for Checking the TDS Status?

Pankaj Tyagi

Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.

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