June 19, 2024/
No Comments
As per the Delhi Municipal Corporation (Amendment) Act, 2003.. the properties falling under the Municipal Corporation of Delhi’s jurisdiction are liable…
TDS Returns Filing
TDS Returns Filing
TDS Returns Filing
When businesses or individuals withhold taxes from specific payments, it’s crucial to submit a TDS return to report and reconcile these deductions with tax authorities.
TDS Return serves as a quarterly summary statement required for submission to the I-T Department. Click on the Proceed option to have your TDS Returns filed promptly!
Our TDS Return package offers:
- Filing of TDS Return
- Correction of any errors in TDS Return filings
TDS Return Filing: Services Under This Plan
- Ensuring TDS compliance assessment
- Registration on the TRACES portal
- Generation of Form 16/16A
- Preparation and filing of TDS Return
- Data compilation including TDS challans, deductees’ PAN, TDS certificates, and invoices
- Verification of TDS rate deductions
- Prompt filing of TDS Return
- Error correction services Benefit from
- miraculous taxes expert TDS assistance throughout the process
Who should buy this plan?
Forms of TDS return filing
Form 24Q (TDS on Salary)
- The Form 24Q is used to prepare eTDS returns for the TDS deducted on salary under Section 192 of the Income Tax Act, 1961.
- It is submitted on a quarterly basis by the deductor.
- It consists of the details of the salary and TDS deducted by the employer.
Furthermore, it comprises of two annexures
TDS on payments other than salary (Form 26Q)
- Firstly, the Form 26Q is used to prepare eTDS returns for the TDS deducted on all payments other than salary under Section 200(3), 193, and 194 of the Income Tax Act, 1961.
- Secondly, it is to be submitted on a quarterly basis by the deductor.
- Thirdly, for instance, this form is used where income on which tax is deducted includes interest on securities as well as dividends on securities, professional fees, etc.
- Lastly, if the TDS is deducted by a non-governmental deductor, then the PAN of the deductor is to be compulsorily provided. However, if the TDS is deducted by the governmental deductor, then after this ‘PANNOTREQD’ has to be mentioned on the form.
Form 27Q (TDS on payments made to NRIs)
- This TDS Form 27Q is used to prepare eTDS returns for the TDS deducted on payments, NRIs and foreigners other than salary under Section 200(3) of the Income Tax Act, 1961.
- It is to be submitted on a quarterly basis by the deductor.
- In addition, the income on which tax is deducted includes interest, bonus income or any other sum to be paid to NRIs or foreigners.
- Additionally, if the TDS is deducted by a non-governmental deductor, then the PAN of the deductor is to be compulsorily provided. However, if the TDS is deducted by the governmental deductor, then ‘PANNOTREQD’ has to be mentioned on the form.
Form 27EQ
- This form consists of quarterly statements that furnish the details and information. In addition, of the tax collected at source, under Section 206C of the Income Tax Act, 1961.
- It is to be submitted on quarterly basis by the seller and it is mandatory to furnish TAN.
- It comprises of the statement of Tax Collected at Source (TCS), which is the tax collected by the seller. Whenever a buyer purchase certain goods or commodities, consequently the seller collects the tax from the buyer through the TCS medium. Further, this tax can be collected in any mode of payment including credit.
- In addition to the above, if the TDS is deducted by non-governmental deductor, then the PAN of the deductor is to be compulsorily provided. However, if the TDS is deducted by the governmental deductor, then ‘PANNOTREQD’ has to be mentioned on the form
Documents required:
- Challan details
- Details of Deductor
- Details of Deductee
- TDS deduction details
- Details of person responsible
For Income Tax Latest Update
Watch Miraculous Taxes YouTube Channel.
We at Miraculous Taxes take utmost care before sharing any information with our viewers and Subscribers so that they could understand what is being told and discussed in the video . This channel aims at sharing information to those who want to learn and grow.
Latest News
Read Latest News
we also offer valuable insights and resources through our blog. Stay informed about the latest industry trends, tax updates, and financial tips to empower yourself and make informed decisions about your finances.
- All Post
- Articles
- Finance & Taxation Related Terminology
- Pointers
- Student Zone
- Back
- GST
- Income Tax
- Others
- Back
- GST Articles
- Income Tax Articles
May 19, 2024/
Introduction Goods and Services Tax (GST) is an Indian tax system. It is effective in India since July 1, 2017. GST…
March 14, 2024/
In a world where gender equality has become a priority, one would not expect bias while shopping at retail stores. But…