TDS Return Filing

What is TDS?

Tax deducted at source or TDS is the tax collected by the government of India at the time when a transaction takes place. In this case, the tax is required to be deducted at the time money is credited to the payee’s account or at the time of payment whichever happens earlier.

In the case of salary payment or the life insurance policy, tax is deducted at the time the payment is done. The deductor then deposits this amount with the Income-tax department. Through TDS a portion of the tax is paid directly to the IT department.

Tax is deducted usually over a range of 10%.


iNR 1,599

TDS return filing for two quarters.


iNR 2,699

TDS return filing for two quarters.


iNR 5,299

TDS return filing for four quarter.

What is TAN or Tax deduction and Collection Number?

TAN or Tax Deduction and Collection Number is a mandatory 10 dight alpha number that is to be obtained by all people who are responsible for Tax Deduction at Source or Tax Collection at Source on behalf of the Government.

The person who deducted the tax at the source is required to deposit the deduction to the Central Government quoting his TAN number. Salaried individuals are not required to obtain TAN or to deduct the tax at the source.

In the case of proprietorship businesses and other entities must deduct tax at the source while making certain payments like the salary, payments to the contractor, payment of rent exceeding Rs.1,80,000 per year. Agencer can help you obtain the TAN registrations.

The entities that have TAN registration must file the TDS returns quarterly. Agencer can help you file the TDS returns online. Our TDS experts can help in computing the TDS payments and file the TDS returns and comply with the TDS regulation.


Eligibility criteria for filing TDS Return

TDS returns can be filed by organizations or employers who have availed a valid Tax collection and deduction Number (TAN).

Any person making specified payments mentioned under the Income Tax Act is required to deduct tax at the source and they need to deposit the tax within the stipulated time for the following payments:

  • Salary payment
  • Income on Securities
  • Income by winning lotteries, puzzles, and others
  • Income from winning horse races
  • Insurance commission
  • Payment concerning National Saving Scheme and many others.

Due Date for TDS Filing

The due date for Payment of TDS deducted is the seventh of the next month.


How to File TDS return online?

Here is the step-by-step process to file the TDS returns:

  • At first, Form 27A which contains multiple columns must be filled, in case of hard copy of the form is filled it should be verified along with the e-TDS return that has been filed electronically.
  • The next part is that the tax deducted at the source and the total amount that has been paid must be correctly filled and should be tallied.
  • The TAN of the organizations must be mentioned on Form 27A. There will be difficulties in the verification process if the TAN mentioned is incorrect.
  • While filing the TDS returns the appropriate challan number, the mode of payment and the tax details must be mentioned. In case of an incorrect challan number or incorrect date of payments, there will be a mismatch and the TDS returns might have to be filed again.
  • To bring consistency the basic form used for filing e-TDS must be used. The 7-digit BSR must be entered for easing the tallying process.
  • Physical TDS returns must be submitted at the TIN-FC. The NSDL manages all the TIN-FCs. In case of online filing, they can be submitted on the official website of the NSDL TIN. A level 2 signature must be used by the deductor in case TDS returns are filed online.
  • If the provided information is correct a token number or provisional receipt will be received. This tells us that the TDS return has been filed.
  • In case of rejection, a non-acceptance memo along with the reason for rejection is issued and the returns must be filed again.

Updated on 18/07/2021