TDS Returns online Filing Process, revised return & refunds

In this blog we shall discuss the TDS online return filing process, who should file , when to file, how to file revised return. Before discussing TDS return, one should know meaning of Tax deducted at source.

TDS – Tax deducted at source is way of collecting tax by Government. When a transaction takes place in any company.

Income tax is required to be deducted at the timepayment is credited to the payee’s account or at the time of payment, whichever is earlier. There are various kinds of payments and various tds rates are applicable.

In case of payment like:- salary rent interest contract payment professional fee tax is deducted at the time of payment or credit.

The deductor then deposits this TDS amount with Income Tax (I-T) department.

TDS is considered as a method of reducing tax evasion. TDS rates are between 1% to 10%.

Benefits of TDS

TDS helps in regular collection of taxes.
Ensures a flow of regular income to the government
Reduces the burden of lump-sum tax payment.
It helps in spreading the entire tax payment

Due Dates for Payment of TDS

Date of Amount Paid / Credited Due Date of TDS Deposit

From the Date of payment/ credited 7^th of next calendar month

For the march ending 30^th April

What is TDS Return?

After deducting and depositing TDS on time with government, it is the responsibility of deductor to file a TDS return.

TDS return is a quarterly statement to be given to the I-T department. It is compulsory for deductor to submit a return on time.

Details required to file TDS returns are

PAN of the deductor and the deductee

Amount of tax paid to the government

TDS challan (detail:- like date of deposit, bank branch name, BISR code, CIN number)

Who should file TDS Return

Employers or companies –corporates who have valid Tax Assessment Number (TAN), shall file TDS return.

Any person making payments under the I-T Act are required to deduct TDS and need to deposit within time.

Nature of Payments attracting TDS

Payment of Salary
Income by way of “Income on Securities”
Income by way of winning lottery, puzzles and others
Insurance Commission
Contract payment
Rent payment
Technical Fee payment
Payment in respect of National Saving Scheme and many others

TDS return due date

Due dates of Return FY 2019-20 :

Quarter Quarter Period Return Due Date

1st Quarter 1st April to 30th June 31st July 2019

2nd Quarter 1st July to 30th September 31st October 2019

3rd Quarter 1st October to 31st December 31st January 2020

4th Quarter 1st January to 31st March 30th June 2020 | Read Ordinance 2020

TDS Return Forms:-

Particulars Form No.

TDS on Salary Form 24Q

TDS on sale of immovable property Form 26QB

TDS in any other case Form 26Q

Various forms are used for filing TDS return. These returns have to be in company with a signed verification in Form No. 27A.

Return should be file together with quarterly statements.

TDS Return online filing process

Form 27A contains a control chart whose all columns shall be filled.

The totals of the amount paid and the tax deducted at source have to be correctly filled in all the forms, including Form No. 27A, Form No. 24, form No. 26.

Assessee is require to mention (TAN) in Form No. 27A.

It is necessary to mention the 7-digit Bank Branch Code.

E-TDS return should to be file in t text format.

User can use software Computex, MS Excel or Tally.

User have an option of using the software available at NSDL website known as Return Prepare Utility (e-TDS RPU Light) for filing the return online.

The physical TDS returns can be submitted at any TIN- facility centers manage by NSDL across the country. Receipt/token number would be issue, after successful submission.

How to validate (checking) of the TDS Return

Validation of return file is given below:

Fill in the required details in the file
After filling details, update it in ( validation utility tool available on NSDL website )
In case any error FVU will provide a report for errors.
Make the necessary changes and verify again.

TDS Return will attract Penalty

Late filing of Return attract penalty of Rs 200 per day, not exceeding TDS amount.

Penalty for Non-filing of Return

If an assessee has not filed return within 1 year from the due date assessee shall also be liable for penalty.

Penalty Amount will be less than Rs 10,000 .

Filing of revised Return

If any error is detected, like:- incorrect challan or PAN, the tax amount credited with the government will not reflect in the Form16/ Form 16A/ Form 26AS.To facilitate conformity and make sure that the tax amount is properly credited and reflected in the Form 16/Form 16A/ Form 26AS, a revised TDS return has to be filed.

How to file Revised TDS Return

Revised return can be filed only if the original TDS return is accepted by the TIN central system.

Assessee can check the status of the TDS return filed online by providing details, such as PAN Token number on NSDL website.

Following type of corrections can be done:-

C1 correction: Under this type, correct details of the deductor like the name and address.

C2 correction: Under this type, you can update challan details like:- TDS amount, BSR code, serial number of the challan.

C3 correction: change or update details of the deductee.

C4 Correction: you can add or delete salary details.

C5 correction: PAN number of the employee or the deductee can be edited

C9 correction: you can insert a completely new challan.

TDS Refund

At the year if there a difference between the total tax deducted and the TDS liability. IT TDS source is more than the actual tax liability, it results in TDS refund.

How to check TDS Refund

The status of TDS refund can be verified in the following ways:

You can also call at CPC Bangalore on 1800-4250-0025 (toll-free number) to check the status

TDS Refund period

If you have filed it on time, then excess TDS amount will be refunded between 3 to 6 months.

Interest on TDS Refund

If the income tax department does not pay the TDS refund amount within the specified time period, they will have to pay an interest of 6% p.a. on the refund amount.

IPA offes Income Tax Course in Delhi

Income Tax Website of India