Why tds return file

The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of Form 26AS or TDS certificate issued by the deductor. Taxes shall be deducted at the rates specified in the relevant provisions of the Act or the First Schedule to the Finance Act.

However, in case of payment to non-resident persons, the withholding tax rates specified under the Double Taxation Avoidance Agreements shall also be considered.

Read here about section M. Tax collected at source TCS is the tax payable by a seller which he collects from the buyer at the time of sale. Let us know everything about TCS. How do you apply for a TAN? Read more to know more about the payment details and Pointers for Filling Form 49B. Under Section J payments towards fees for professional or technical services have TDS implications.

Know more about the section J, its rate for deduction of tax, time of deduction, consequences of non-deduction or late deduction here. Read on to understand more of Form16B, procedure for filing, due date etc. There are certain circumstances where a taxpayer can pay lower taxes or no tax. In case the person who makes the payment has to deduct tax, then a process must be followed for lower deduction of tax. Form 13 and supporting documents to be submitted are also detailed in the article.

In this article, we talk about TDS return on salary payment. A step by step guide to generate Form by using Clear TDS and it helps to merge already generated files. Find out what is section I tds on rent. Find out what is section h TDS on commission and brokerage. Check out the rates and when is TDS under section H needs to be deducted. Find out what is section C and rate of TDS.

Find out the rates of TDS applicable to resident and non-resident Indians. Also interest and penalty charges for late deposit or filing of TDS return. Was this article helpful? Have a query? LegalRaasta clearly provided the best service and fast.

Their team helped me protect my brand with trademark registration. The service was swift and delivered at half the cost. I will highly recommend LegalRaasta for startups given its quality support and speed. And all this comes at a economical price. File Return Yourself. Software features. TDS definition.

Type of Return. Due dates. Process to file TDS. TDS Return filing plans. Free Demo Free. Start Free Filing. Return date. Get Quote Try agian later. Get Quote. Policy Start Date. Policy End Date. View Prices View Prices Try agian later. View Prices Try agian later. Get Quote Get Quote Try agian later. Virat Kohli has switched to Digit insurance! The choice of the Captain and 2 crore Indians.

When will YOU switch? Sign up for it. Notify Me. Nice email address! We have some cool stuff going on our channels, join us.

Source: dnaindia. How to file an online TDS return? The list of documents are as follows: PAN cards of the deductee and the deductor Tax amount paid to the government Details on TDS challan Other paperwork, if needed Now let us see the step-by-step procedure on how to file TDS returns online.

Steps to follow to file TDS returns Deductors must use form 27A to file returns along with quarterly statements. A control chart is present on the form. Fill up all the columns in that chart. Carefully fill the sections of the amount paid and the Tax Deducted at Source by tallying it with respective forms. The assessee must enter their Tax Deduction Account Number in this form for accurate verification. It is also crucial to mention the details of a TDS deposit while filing the return.

The Reserve Bank of India gives this code to banks. To file a TDS return online, assessees should follow a certain format. To know how to submit a TDS return online, one must be accustomed to digital signatures.

After submission, an individual will receive an acknowledgement receipt containing a token number. In case of rejection of returns, the deductor will receive a non-acceptance memo stating the reasons for rejection.

Eligibility criteria for TDS returns. Some payments for which one needs to file TDS return are as follows: Salary payments Income earned by winning lotteries, puzzles, etc.