Tax & Accounting

TDS Return

TDS (Tax Deducted at Source) returns are quarterly statements filed with the Income Tax Department by every deductor holding a TAN: Form 24Q (salary), 26Q (non-salary payments to residents), 27Q (payments to non-residents) and 27EQ for TCS. Due dates are 31 July, 31 October, 31 January and 31 May for the March quarter. A late fee of Rs 200 per day applies under Section 234E, capped at the TDS amount.

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Service Overview

What is TDS Return?

A TDS return, or statement, is the quarterly summary of tax deducted at source, deductee PANs and the challans through which tax was deposited. It must be filed under Section 200(3) of the Income Tax Act by every deductor who has deducted tax, and the details flow to the deductee’s Form 26AS or AIS so credit can be claimed. TAN is mandatory for anyone deducting TDS.

Due dates for non-government deductors are 31 July for Q1, 31 October for Q2, 31 January for Q3 and 31 May for Q4. TDS must be deposited by the 7th of the following month. Section 234E late fee is Rs 200 per day until filing, not exceeding the TDS amount, and Section 271H provides a penalty of Rs 10,000 to Rs 1,00,000 for non-filing or incorrect filing.

TDS Return

Who Needs This Service

Companies, LLPs, firms and individuals who pay salaries, contractor or professional fees, rent, interest or other payments subject to TDS need to file TDS returns.

Startups that engage freelancers and consultants should deduct and file correctly, since errors affect payees' tax credits.

Businesses with employees must deposit TDS and file 24Q.

If you missed filings, we can help correct and file with late fees to limit penalties.

Key Benefits

Correct TDS rates and timely deposit
Quarterly statements filed on time
PAN validation and default correction on TRACES
Form 16 and 16A issued
Avoids Section 234E fees and penalties

Next Steps & Related Services

After filing, issue certificates and reconcile TRACES.

Related services: Income Tax Return, GST Return, PAN/TAN correction and Accounting.

Common Mistakes

Missing deposit deadlines.
Wrong PANs of deductees.
Using wrong rates.
Not issuing Form 16/16A.
Ignoring TRACES defaults.

Timeline, Costs & Practical Tips

TDS must be deposited by the 7th and returns filed quarterly.

Practical tip: validate PANs before filing to avoid higher-rate deductions and mismatches.

Additional Information

Section 200(3) of the Income Tax Act requires statements, and Section 234E provides the late fee. TRACES is the portal for corrections.

Practical Scenarios

Scenario 1:

A company files 24Q for salaries.

Scenario 2:

A firm files 26Q for contractors.

Scenario 3:

A startup corrects a default on TRACES.

Practical Guidance

TDS compliance has four moving parts: deducting at the correct rate, depositing by the 7th, filing the quarterly statement and issuing certificates. Errors usually arise in the first and third. Maintain a master of vendors with PANs, sections and rates, check PAN status before payments to avoid higher-rate deductions, and reconcile the statement with TRACES to correct defaults early. The Section 234E late fee is small per day but accumulates, so filing on time is cheaper than correcting later.

Written By

Raghav Sharma

Operations Executive

10+ Years Experience

As seen on

Raghav Sharma has 10+ years of experience covering Company Registration - Operation, MCA Services - Operation, Corporate Operation, Import Export Services - Operation, Goverment Licence Services - Operation, FSSAI - Operation, SEBI - Operation, Labour Compliance - Operation, Fund Raising - Operation, Licence & Certificate - Operations.

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Frequently asked questions

Need clarity?

What forms are used?

24Q for salary, 26Q for resident non-salary, 27Q for non-residents and 27EQ for TCS.

When are returns due?

31 July, 31 October, 31 January and 31 May.

What is the late fee?

Rs 200 per day under Section 234E, up to the TDS amount.

Do I need a TAN?

Yes.

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