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TDS Return Filing

What is TDS??
TDS is tax deduced source. It’s a tax which the people  has to pay but not all people. As per the government direction  the tax is applicable when payment is done. The person has to deposit or withdrawal money  has to pay TDS. TDS deduction occur when deposited to the government by submitting an income tax challan, along with the payment. 

Their Is two way for TDS
Deduct TDS as the payment done(like a deductor)
Another as TDS  return quarterly.

TDS return includes the details of deductor or deductees.  It is mandatory  Tax ,it contains the details of PAN .and when you file the return a form contains all the information of payment.

TDS return submitted in the Income Tax department. TDS(tax deducted  at source)is an direct system of deduction of tax, that is if you  earn money from any sources this tax is applicable. This tax comes under Income Tax Act 1961. Tax is also deducted by the payee and remitted to the government on behalf of his/her.

Tax Deduction & Collection number(TAN) is a number that  every TDS deductor  obtain by filling TDS return. Every people is responsible for this number for pay the return . TAN number is 10 digits number which is mandatory for filing a return. This Tax ensures the collection or revenue of the government’s and the tax is proponed and responsibility for Paying Tax  is diversified. TDS are not applicable on those people who are salaried. TDS return filled by the owner of the company ( i.e; private firm , Public limited firm etc).

TDS returns are duein  quarterly manner . Filing Bazar is the firm that   can help you file your TDS returns online. Our TDS experts can help you compute your TDS payments and e file the TDS return and keep you in compliance with TDS regulations. 

TDS Payments
TDS payments has certain limitation for payment, for payment people have TAN and payment has to be done by challan corresponding to the TAN .it only pay by the authorized Bank and has to be pay before the 7th day of the following month.

Ownership or Business Require TAN
If you earned on salaried  then you are not pay TDS. And if you run proprietorship as a individuals are required to obtain TAN  and pay TDS return. 

TAN Facilitation Center& Firm
Filing Bazar is a authorized TAN facilitation center. Therefore, Filing Bazar can help you  toobtain TAN quickly and @ cheep rates.the applicant who has to file the return has to send the documents and application form we further proceed and help to get TAN as soon as possible.

ValidityOf TAN
Once an applicant get the TAN  they has to pay the TDS return , it is valid for lifetime. However, TDS Filings must be made quarterly on the 15th day of July, October, January and May.  If you not filing the TDS you have to pay  thepenality.

Procedure:
Document Collection& verification
AnFiling bazaar TDS Expert will collect the necessary information and documents for preparation of TDS return for your business.and file the TDS return before the 7th day of the month

Return Preparation
Based on the documents and information presented, Filing bazaarTDS expert will prepare your TDS return and send for your approval.and after your approval the application and documents send to the Income tax department.

Return Filing
Once the TDS return is verified and approved by you, our TDS or firms  expert will file your TDS return with the Income Tax department. and sends you the Receipt  after submission of tax. 

FAQ

TDS means Tax Deducted at Source. It is the amount deducted from payments of various kinds such as salary, contract payment, commission etc. This deducted amount can be adjusted against the tax due of the deductee.

What is TAN?? Is it mandatory to file TDS return??
TAN is a10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such person must make an application within a month of deducting TDS for allotment of TAN in Form 49B. This TANis mandatory to mention in all TDS Certificates issued, returns, challans etc. If a person fails to apply for TAN he may be penalized up to Rs. 10,000/-.

TDS types??
Different types of TDS forms are as follows :-
Form 24Q -TDS on Salaries
Form 26Q – TDS on payments other than Salaries
Form 27Q – TDS on payments made to Non-Residents
Form 27EQ – TCS

Is PAN is mandatory??
Yes it is mandatory. PAN of the deductor has to be given by Non-Government deductors.

Procedure for TDS Submission??
Payment can be made  in two ways 
online on NSDL by selecting Challan 281  or physical payment by challan 281
making the payment using net banking. 
These TDS payments need to be made before filing the TDS return.
E-payment is compulsory for all Corporate assesses & non-corporate assesses.
Physical payment can be made using Challan 281 in authorized bank branch.