TDS (Tax Deducted at Source) is an indirect system of deduction of tax by Indian authorities according to the
Income Tax Act, 1961 at the point of generation of income tax. Tax is deducted by the payer and is remitted to the
government by the payer, on behalf of the payee.
A TDS Return is a quarterly statement which has to be submitted to the Income Tax Department of India. Submitting
TDS Return is mandatory if you are a deductor. It has details of TDS deducted and deposited by you.
Tax Deducted at source as the name suggests collection of tax at the origin of the Income i.e. as and when income is earned. The income tax act requires that the person (deductor) who makes the payment to any other person (deductee) shall deduct at certain percentage tax while making the payment and remit the same into the account of central government on behalf of receiver of such payments.
Thus the recipient of income (deductee) receives the amount net of taxes. The recipient of income can claim credit of this TDS while filing his income tax return on the basis of FORM 26AS or TDS certificate. The TDS return is simply a statement giving quarterly summary of tax deducted along with PAN of payee (deductee), Payment details etc.
Every deductor shall file a quarterly return for Tax Deducted at Source in form as prescribe prescribed on or before due date.
You can file TDS return through TaxRaahi TDS software in just 5 simple steps:
1. Add Deductor: Add Deductor details such as TAN Number, Address etc. You can also import from excel sheet or conso file.
2. Add and Verify Challans : Enter challan details and verify challans from OLTAS directly with our TaxRaahi TDS software.
3. Add Deductees/Employees: Add deductees along with their PAN and TDS Details.
4. Match Challan with Deductees: Choose the challans for each deductee. If any challan amount is unused is can be carried forward to next quarter.
5. Verify Return and Generate FVU for TDS Return Filing: Check for suggestive and validation errors. Once all the validation errors are fixed you can generate FVU from our TDS software.
No, using TaxRaahi TDS software is extremely simple. You needn’t install any complex government TDS utility or Java. TaxRaahi TDS is online software. You just need to create your login and you are good to go.
TaxRaahi TDS software is free for CAs, SMEs, and corporate for the first 5 returns. Post this; you can buy our software plans starting as low as Rs. 99 / return.
TaxRaahi is one of the best TDS return filing system because of the following reasons:
Different forms prescribed for submitting quarterly returns vary based on purpose of payment. The various forms and their due date for submission are given below:
| Particulars | Quarter | Due Date |
|---|---|---|
| TDS on Salaries(24Q) | April-June | July 31 |
| TDS on all payments other than salaries(26Q) | July-September | October 31 |
| TDS on payments to non residents(27Q) | October-December | January 31 |
| January-March | May 31 | |
| April-June | July 15 | |
| TCS(27EQ) | July-September | October 15 |
| October-December | January 31 | |
| January-March | May 31 |
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Delhi, 110034
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