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First Auditors platform is a technology-driven platform that offers specialized legal and financial advisory services in India.

TDS Return Filing

We specialize in TDS Return Filing Services to help your business meet compliance requirements and contribute to sustainable growth. Our services include the following:

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01 Overview 02 Benefits 03 Who Needs 04 Eligibility 05 Documents 06 Procedure 07 Authority & Fees 08 Deadlines 09 Rejection 10 How We Help 11 FAQ
Overview

Introduction to Filing TDS Returns

The Indian government uses a technique known as tax deducted at source, or TDS, to collect taxes at the time a transaction takes place. Whenever funds are credited to the payee's account or when the payment is made, whichever occurs first, the tax in this situation must be deducted.

In situations where a salary or life insurance policy is being paid, tax is deducted at the time of payment. After that, the deductor deposits this TDS amount with the income tax department (I-T). TDS is used to automatically pay a portion of your tax to the I-T department. TDS is consequently seen as a means of reducing tax evasion. Typically, tax deductions range from 1% to 10%.

TDS Return Filing Services
Benefits

TDS Advantages

TDS provides several advantages for both the government and taxpayers.

  • Timely Tax Collection: It helps timely tax collection
  • Steady Revenue: Ensures a steady flow of revenue for the government
  • Reduced Burden: Minimizes the tax payment load in one big sum. It facilitates spreading out the total tax payment over several months, making it simpler for the taxpayer
  • Simple Payment: Provides the payer with a simple method for paying taxes
Who Needs This Service

Who is Required to File TDS Returns?

Any individual or organization that deducts TDS while making payments is required to file TDS returns.

  • Employers paying salaries
  • Companies making payments to contractors
  • Financial institutions paying interest
  • Individuals making specified payments
  • Any person deducting TDS
  • Business entities with TAN
Eligibility Requirements

Eligibility Criteria for TDS Return

TDS is applicable on various types of payments as per the Income Tax Act.

  • Payment of Salaries: The payment of salaries is a crucial aspect of business operations, ensuring employees are compensated for their work
  • Earnings from Securities: Earnings from "Income on Securities" represent the financial returns from investments in various securities
  • Income from Lottery Wins: Income from puzzle and lottery wins, among other sources, can add a significant amount to your financial portfolio
  • Winnings from Horse Races: Winnings from horse races are another potential source of income, often associated with gambling and betting activities
  • Commission for Insurance: Commissions for insurance represent the earnings from selling insurance policies and related financial products
  • Payments for Savings Schemes: Payments related to National Savings Scheme and other financial obligations are essential for maintaining investments and financial health
Documents Required

Documents Required for TDS Return Filing

The following documents are required for filing TDS returns:

Basic Documents
  • PAN of deductor
  • TAN of deductor
  • PAN of deductee
Payment Details
  • Challan details of TDS payment
  • Details of payments made
  • TDS amount deducted
Compliance Documents
  • Form 26Q (TDS on non-salary payments)
  • Form 24Q (TDS on salary payments)
  • Form 27Q (TDS on payments to non-residents)
Step-by-Step Procedure

TDS Return Filing Process

The following is a concise description of the procedure for TDS return filing.

01
1–2 working days

Connect with First Auditor Team

Get in touch with our experts to discuss your TDS return filing requirements and business details.

02
2–3 working days

Document Collection & Verification

Submit all necessary documents including PAN, TAN, and payment details.

03
3–5 working days

Data Compilation & Verification

Compile all TDS data, verify challan details, and ensure accuracy of deductee information.

04
2–3 working days

Form Preparation

Prepare the appropriate TDS return form (24Q, 26Q, or 27Q) based on the type of payments.

05
1–2 working days

Return Filing

File the TDS return through the Income Tax Department's e-filing portal.

06
1–3 working days

Acknowledgment & Compliance

Receive acknowledgment from the Income Tax Department and ensure all compliance requirements are met.

Authority, Timeline & Fees

Where the application goes, and what it costs

Government Authority

Income Tax Department, Ministry of Finance, Government of India.

Estimated Processing Period

Typically 15 to 30 working days from complete document submission, depending on the Income Tax Department's workload.

Certificate Issued

Acknowledgment of TDS return filing from the Income Tax Department.

Fee Structure

No government fee for TDS return filing. Professional fee quoted upfront by First Auditor.

ComponentPaid ToNature of charge
TDS Payment Income Tax Department As per applicable TDS rates
Late Filing Fee Income Tax Department As per applicable rules (if applicable)
Professional fee First Auditor Quoted upfront, one-time

Government fees are prescribed by the Income Tax Department. Our team quotes both components separately before you proceed, with nothing added later.

Important Deadlines

TDS Return Filing Deadlines

Key deadlines for TDS return filing in India.

  • Quarter 1 (April-June): Due by July 31
  • Quarter 2 (July-September): Due by October 31
  • Quarter 3 (October-December): Due by January 31
  • Quarter 4 (January-March): Due by May 31
  • Annual TDS Return: Due by May 31
Common Reasons for Rejection

What causes the Income Tax Department to reject a TDS return

  • Incorrect PAN of deductor or deductee
  • Invalid TAN of the deductor
  • Mismatch in challan details
  • Incorrect TDS amount calculation
  • Missing or invalid deductee details
  • Filing after the due date without additional fees
  • Incomplete or incorrect form submission
  • Non-compliance with TDS provisions
How First Auditor Assists

One team, from document collection to filing acknowledgment

We manage every step, document, and follow-up with the Income Tax Department so you can focus on your business.

Document Check

We verify your eligibility and ensure all required documents are complete and valid.

Data Compilation

Expert assistance in compiling and verifying TDS data for accuracy.

TDS Calculation

Accurate calculation of TDS as per applicable rates and provisions.

Return Filing

Complete TDS return filing through the Income Tax e-filing portal.

Query Handling

We respond to all queries from the Income Tax Department on your behalf.

Timely Follow-up

Regular follow-up to ensure timely processing of your filing.

Deadline Reminders

We remind you well in advance about upcoming filing deadlines.

Form Preparation

Assistance with preparing Form 24Q, 26Q, and 27Q.

Compliance Support

Ensuring full compliance with TDS provisions and regulations.

Frequently Asked Questions

FAQ

TDS Return Filing is the process of submitting a quarterly return to the tax authorities, reporting the tax deducted at source on various payments made during the quarter.

Any individual or organization that deducts TDS while making payments, such as salaries, contractor payments, or interest payments, is required to file TDS returns.

TDS returns must be filed by the 15th of the month following the end of each quarter. For example, for the quarter ending March 31, the due date is May 31.

Failure to file TDS returns on time can result in penalties, interest on delayed payments, and potential legal action from tax authorities.

TDS returns can be filed online through the e-filing portal of the Income Tax Department. You need to fill out the appropriate forms, validate, and submit them.

Form 24Q is used for TDS on salary payments, while Form 26Q is used for TDS on payments other than salary, such as interest, commission, and contractor payments.

First Auditor provides end-to-end assistance for TDS return filing including document verification, data compilation, form preparation, and e-filing. We ensure error-free submission and timely compliance.

The late fee for TDS return filing is Rs. 200 per day per form (Rs. 100 per day for TDS and Rs. 100 per day for TCS) until the default is rectified, subject to a maximum of the TDS amount.
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Disclaimer: This page is provided for general informational purposes only and does not constitute legal, tax, or professional advice. Government fees, processing timelines, and documentation requirements are prescribed by the Income Tax Department under the Income Tax Act, 1961 and are subject to change without notice. First Auditor is an independent professional services firm and is not affiliated with, or an agent of, any government department. Please consult our team or a qualified professional for advice specific to your situation before making any filing decision.
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