TDS Return Filing Start your own firm now! It is mandatory to file TDS Return quarterly by the deductor of tax. Every detail in the statement filed has to be precise and accurate. It contains the details of Tax deducted and deposited. Tax is deducted on transactions such as payment to professionals, Contractors, payment of rent exceeding certain amount and many more. For every such type of transaction and payment, there is prescribed rate of tax to be deducted and paid. Non filing of TDS statements online can lead to huge penalties. We at MyEfilings shall help you file TDS statements Online hassle free at most reasonable price.
Hefty amounts would be charged for late filing of TDS Returns.
It is mandatory to file TDS Statements online so that the deductee can get the credit of the same while filing their personal Income Tax Returns.
The first step is to collect all the required information you will need to file your TDS Returns online
TDS paid challans and other documents shall be collected and verified by the team
TDS statements must be submitted electronically using the information and documents provided
Congratulations! Your tax return has been successfully filed You will receive an acknowledgement for it shortly
Form 26AS serves as a comprehensive yearly statement for taxpayers, managing their tax credits under the purview of the Income-tax Department It includes particulars like taxes deducted by entities on behalf of taxpayers, income subjected to deductions, and information about deductors.
Yes, it is mandatory for individuals to possess a TAN in order to deduct TDS, deposit the deducted TDS with the Government, and submit TDS Statements.
If a taxpayer fails to file their TDS return by the due date, they are required to pay an additional fee of Rs 200 per day for each day of delay in filing Additionally, a penalty can be imposed under Section 271H of the Income Tax Act The minimum penalty prescribed is Rs 10,000, which can go up to One Lakh Rupees.
The deadline for paying the deducted TDS is the seventh day of the following month. For March, it is April 30th of the subsequent year.
Failure to furnish a PAN or provide an incorrect PAN will lead to a higher TDS deduction rate of 20%.
