TDS Return Filing

As per the provisions of the Income Tax Act, 1961, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. 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. This concept of TDS was introduced with an aim to collect tax from the very source of income.

TDS or Tax Deducted at Source is defined as an income tax reduced from the money paid at the time of making specified payments such as rent, commission, professional fees, salary, interest etc. by the persons making such payments. Usually, the person receiving income is liable to pay income tax. But the government with the help of Tax Deducted at Source provisions makes sure that income tax is deducted in advance from the payments being made by you. Such, Tax Deducted at Source must be deposited to the government by the 7th of the subsequent month. If the deductor does not file such returns or deposit the deducted amount to the government, then he may face penalty.

Therefore, filing TDS returns is mandatory for all the persons who have deducted TDS and such return is to be submitted with various details like TAN, amount of TDS deducted, type of payment, PAN of deductee, etc. Also, different forms are prescribed for filing returns depending upon the purpose of the deduction of TDS

Therefore, to avoid any sort of complexities and penalties you can rely on us to file your TDS returns as our professionals at Taxcareunit help you to ease your journey of TDS Filing. Our team members are experienced and experts in this field, so rest assured for all TDS related problems and queries.




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