TDS Return Filing

TAN or Tax Deduction and Collection Number (TAN) is an alphanumeric 10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such a person must make an application within a month in which TDS was deducted for allotment of Tax Deduction and Collection Number (TAN) in form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans, etc.
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Overview of TDS Return Filing

TAN or Tax Deduction and Collection Number (TAN) is an alphanumeric 10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such a person must make an application within a month in which TDS was deducted for allotment of Tax Deduction and Collection Number (TAN) in form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans, etc.

  • Tax is deducted by the payer and is remitted to the government by the payer, on behalf of the payee.
  • However, TAN is not required for the salaried class as they are not required to deduct TDS. Once TAN is issued it is valid for a lifetime.
  • Non-filing of TDS return by the due date will attract penalties.
  • Those entities have TAN Registration must then file TDS returns. TDS returns are due quarterly.
  • Legal Suvidha can help you file e file your TDS returns online. Our TDS experts can help you compute your TDS payments and e file the TDS return and keep you in compliance with TDS regulations.

Advantages of TDS Return Filing

  • Easy Loan Approval. Filing the ITR will help individuals when they have to apply for a vehicle loan (2-wheeler or 4-wheeler), House Loan etc.
  • Claim Tax Refund.
  • Income & Address Proof.
  • Quick Visa Processing.
  • Carry Forward Your Losses.
  • Avoid Penalty.

Registration Process

Step 1: DOCUMENT COLLECTION: A Legal Suvidha Provider TDS Expert will collect the necessary information and documents for the preparation of the TDS return for your business.

Step 2: RETURN PREPARATION: Based on the documents and information presented, we will prepare your TDS return and send it for your approval.

Step 3: RETURN FILING: Once the TDS return is verified and approved by you, our TDS expert will file your TDS return with the Income Tax department.

Required Documents

Following are types of TDS Return Forms:

• Form 24Q: a statement for TDS deducted from salaries.
• Form 26Q: a statement for TDS deducted on all payments other than salaries.
• Form 27Q: Statement for TDS deducted on income received from interest, dividends or any other sum payable to non-residents.

FAQ's TDS Return Filing :-

TDS means Tax Deducted at Source. It is the amount deducted from payments of various kinds such as salary, contract payment, commission, etc. This deducted amount can be adjusted against the tax due to the deductee.
TAN is an alphanumeric 10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such a person must make an application within a month in which TDS was deducted for allotment of Tax Deduction and Collection Number (TAN) in form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans, etc. If a person fails to apply for TAN he may be penalized up to Rs. 10,000/-.
Once the documents and application are verified & confirmed by the department the TAN number will be communicated to the Deductor by NSDL.
PAN of the deductors has to be given by non-Government deductors. It is essential to quote PAN of all deductees.
The quarterly return will be filed online with user id & password with Digital signature of the Authorized person and we can also file a return online and then submit Form 27 & 27A to the department by physically signing the form.
Every person deducting tax as per provisions of section 203 is required to issue a certificate to the payee in respect of tax deducted by him along with certain other particulars. This certificate is called TDS Certificate. Once the TDS return is filed, the TDS certificate can be generated within 15 days to the payee. The payee can opt for an annual TDS certificate rather than receiving a quarterly TDS certificate.
Non Payment leads to Interest@ 1.50% p.m. or 18% p.a. from the date on which tax is deducted to the date of its payment. Failure to file quarterly TDS Returns in time late fee @ Rs. 200/- per day maximum of TDS amount) Section 234E.

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1. Application

Fill out the application form & other details.

2. Payment

Make the payment through online mode.

3. Process

We will process your application.

4. Confirmation

A mail will be send on completion.

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