TDS Return Filing

What is TDS?

TDS stands for Tax Deducted at Source. TDS is a source of collecting tax by the Government of India at the time when a transaction takes place. Here, the TDS is required to be deducted at a specified rate (TDS Rate Chart), at the time money is credited to the payee’s account, or at the time of payment, whichever is earlier.

TDS is to be deducted at a specified rate. Different Rates of TDS are applicable for different natures of payment.

What is TDS Return?

Apart from depositing the tax, the deductor or payer should also file a TDS return.

TDS Return is a quarterly statement required to be filed quarterly in Form 24Q, 26Q, 27Q, and 27EQ. It is compulsory for deductors or payers to submit a return on time to the Income Tax Department. The following details required to file quarterly returns /statements are:

PAN of the deductor and the deductee
Amount of tax paid to the government
TDS challan information
Others, if any

Forms of TDS Return

Types of TDS Statement

There are various types of TDS Return Forms for different natures of payment. The list of forms for the Statement of TDS is as follows :-

TDS Statement Forms	Particulars
Form 24Q	Statement for TDS on Salaries
Form 26Q	Statement for TDS on payments other than Salaries
Form 27Q	Statement for Tax Deduction on Income received from interest, dividends, or any other sum payable to non-residents.
Form 27EQ	Statement for TCS (Collection of Tax at Source).

Due Date for e-Filing of TDS Return (Statement)

Due dates for filing Quarterly TDS Return Statement are as follows:

Quarter	Period	Due Date
For Quarter 1	(1^st April to 30^th June)	31st July
For Quarter 2	(1^st July to 30^th Sep)	31st October
For Quarter 3	(1^st October to 30^th December)	31st January
For Quarter 4	(1^st January to 31^st March)	31st May