TDS/TCS Return Filing

TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) Return Filing can create significant urgency or desperation for businesses, individuals, and professionals due to the potential legal, financial, and operational consequences of non-compliance. Here’s an in-depth look at why TDS/TCS return filing can become a desperate issue and why timely compliance is crucial.Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Simple Returns Process

You need to file returns quarterly, depending on your location and turnover. With CAFilings excellent support at best price, TDS return filing is a simple process.

Data Check
Choose the format or data structure for preparing e-TDS return
Validate or verify your prepared e-TDS return
Filling of e-TDS Return
Maintain documents after e-filing

What is TDS Returns?

TAN stands for Tax Deduction and Collection Account Number, allotted by Income Tax Department (ITD) of India. It is compulsorily required to all the persons who are accountable for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the income tax department. The deductor is required to quote TAN number in every correspondence related to TDS or TCS. Failing to apply for TAN or not quoting the same on the specified documents attracts a penalty of Rs 10,000. Salaried individuals are not required to obtain TAN or deduct tax at source. However, other assesses (i.e., Proprietorship business, Partnership, Private Limited Company, LLP, etc.,) must deduct tax at source while making certain payment like salary, interest, dividend, interest on securities, commission and brokerage, rent, fees for professional and technical services, payments to non-residents etc.

Advantage of TDS Returns

Tax deduction Account Number

TAN is a code issued by the Income Tax Department (ITD) for persons responsible for deducting or collecting tax at source. Mostly all assesses whether it is for-profit or not-for-profit are required to obtain TAN.

Proprietorship Require TAN

Salaried individuals are not required to obtain TAN or deduct tax at source. However, individuals running a proprietorship are required to obtain TAN and deduct tax at source as an when required.

Validity

Once issued,TAN is valid for lifetime. However, TDS Filings must be made on quarterly basis. Non-filing of TDS/TCS return on or before the due date will attract a penalty. Due dates for submission of Quarterly Returns are given below.

Quarter	Period	TDS Return Due Date	TCS Return Due Date
Q1	1^st April to 30^th June	31^st July	15^th July
Q2	1^st July to 30^th September	31^st October	15^th October
Q3	1^st October to 31^th December	31^st January	15^th January
Q4	1^st January to 31^th March	31^st May	15^th May

TDS Payments

TDS collected during the preceding month, must be paid into authorized bank quoting TAN on or before the 7th day of the following month.

TAN Facilitation Center

Just send the TAN application along with the supporting documents and we will help you get your TAN hassle-free and quickly.

Quick Processing

For obtaining TAN, it will take 5-10 working days, from the time of submission of application in hard format along with the self-attested copy of address and identity proof of the applicant.

Process of TDS Return Filing

TDS Return

An employer or company that has valid TAN – Tax Collection and Deduction Account Number can file for online TDS return.

Document Collection

Our experts will collect the necessary information & documents of your business for preparation of TDS return and other TDS compliance.

Return Preparation

CAFilings TDS expert will prepare your TDS return on the basis of documents and information submitted and send for your approval.

Return Filing

After your approval our TDS expert will file your TDS return with the Income Tax department.