Legaltaxpert makes it easy for you to file TDS returns:
Any individual or business entity that deducts the TDS, must file the TDS return. It is filled with every quarter of the Government. The purpose of the TDS return is to inform the deductor about the TDS deduction. One can file the TDS return through an online portal. TDS refund is the only ID compliance of filing the TDS. Consult a Chartered Accountant to make sure that you are complying with TDS in the right manner as per the TDS law.
With every TDS, you receive a challan receipt and it is required while compiling the TDS returns. You have to give all the required details while filing a TDS return. It is compulsory to file TDS every quarter. TDS return is handled by the government. All the TDS returns should be done within the specific guidelines or else a penalty will be imposed on the taxpayer. Non-compliance of TDS is observed by the authorities and the objective is to monitor the TDS payment status and compliance as per the TDS law. You can't fill the TDS return if the TDS payment is not done. A taxpayer can claim the TDs refund by filing the ITR, only when the tax computation shows the excess of tax has been deducted. Consult a professional regarding the compliance of the TDS.
You can check the form 26AS on the official website of Income Tax India, to check whether the TDS is deducted.
When an individual fails to file Income Tax Return, such payments exceed the payment limit according to the Income Tax act, then the taxpayer has to deduct tax before making payments; such a deduction is called TDS.overall a person who is making the payment is collecting tax on the behalf of the Government. Every party who deducts the TDS must fill the TDS return online
Individuals whose tax has been deducted already can claim this TDS. TDS refund is done for the financial year for which the TDS is deducted.
Tax deducted at source is the process of reducing tax evasion by making it compulsory to deduct the TDS from the payment at defined rates.
24Q, 26Q, 27Q, 27 EQ, and 27D are all the income tax return forms to declare the Tax Deducted Source.
Go to the official website of the Income Tax and log in all the required credentials. After login “Upload TDS" on the TDS menu.
Yes, you can file TDS return yourself through the official Income Tax e-filing portal. One must submit the TDS return on time.