TDS Return

To avoid fines, file your TDS/TCS returns on time. Top Accountants and Tax Experts handle e-filing. TDS filed for both businesses and Individuals.

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What is TDS Return?

TDS (Tax Deducted at Source) is a system used by the Government of India to collect taxes at the point of transaction occurrence. TDS allows for the direct payment of a portion of the tax to the Income Tax Department, usually at 10% or within a certain range. The TDS online process at Vertezone is straightforward and user-friendly, with step-by-step instructions available. Furthermore, filing your returns online assures that they are correct and error-free, reducing the possibility of penalties and attention from the tax authorities.

How it Works

Select 'Prepare and Submit TDS Return'

Step 1
Select the year

Form 26Q for TDS on salaries, Form 24Q for TDS on non-salaries, 27Q for TDS on foreign firms, and so on.

Step 2

Enter all of the essential information, including the TDS amount, PAN, and the tax deducted at source.

Step 3

Simply choose 'Revised Return' instead of 'Original Return' when filing.

Frequently Asked Questions

TDS was created in order to collect tax directly from the source of income. According to this theory, a person (the deductor) who is compelled to pay a specific sort to another person (the deductee) must withhold tax at the source and submit it to the Central Government’s account.

If you pay taxes at a rate of 5%, you can now request a TDS refund for the additional amount deducted. Similarly, if your employer did not get your 80C investment evidence or rent receipts for your dwelling rent allowance, you can obtain a TDS refund for any excess TDS withheld from your pay.

The government has until April 7 to deposit any taxes that have been withheld. All other deductor’s taxes must be deposited by 30 April.

The refund amount is typically credited in 3-6 months.

The TDS amount is the amount of tax that is subtracted from a person’s or company’s payment. The tax that the seller paid at the time of the sale is referred to as the TCS amount.

TDS traces refers to the Income Tax Department’s internet portal, TDS Reconciliation Analysis and Correction Enabling System. Its purpose is to facilitate communication among all parties involved in the administration and implementation of Tax Deducted at Source and Tax Collected at Source.

Yes. All non-government deductors must have a Challan Identification Number.

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