TDS Return

  • Assistance in preparing the document
  • Filling the return
TDS Return – 
  • Invoice and payment details
  • Chalan Details
  • Customer or vendor details

About TDS Return

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Note – Charges are based on minimum government fees or structure state-wise. If there are additional services or extra government fees, then the same has to be borne by the service receiver.

Each additional 10 records – 200

1,000.00 Excl. of GST

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Frequently Asked Questions about TDS Return

Q1. What is TDS?

The government has notified in some cases that while making a payment you have to deduct a certain amount from the total payment and deposit the same as tax to the government on behalf of the payee as his income tax. This amount is called Tax deducted at source.

Q2. When is TDS is deducted?

TDS rate changes every year following is the TDS details for the year 2021-22:

Section Description TDS rate TDS if no PAN Threshold limit Summary
192 Salary Slab Rate 30%
192-A Premature withdrawal from EPF 10% 20% 50,000
193 Interest on security 10% 20% 2,500 (Securities) 5,000 (Debenture) 10,000 (GOI Savings)
194 Dividend 10% 20% 5,000
194 – A Interest 10% 20% 40,000 50,000 (senior Citizen)
194 -B Lottery, Gambling or games 30% 30% 10,000
194 BB Horse race 30% 30% 10,000
194-C
Payment to Contractors 1% (Individual) 2% (Company) 20% 30,000 (Single payment) 1,00,000 (Total payment)
Payment to Contractors Transporter 1% (Individual) 2% (Company) 20% 30,000 (Single payment) 75,000 (Total payment) Not applicable if the transporter has less than 10 vehicles.
194-D Insurance Commission 5% (Individual) 10% (Company) 20% 15,000
194-DA Life insurance policy 5% 20% 100,000 Not applicable if exempt.
194-E Payment to non-resident sports person/ association 20% 20%
194-EE Withdrawal of National Saving Scheme 10% 20% 2,500/-
194-F Repurchase of the unit by MF or The unit trust of India 20% 20%
194-G Commission on sale of lottery ticket 5% 20% 15,000/-
194-H Commission on Brokerage 5% 20% 15,000/-
194-I (a) Rent on plant & machinery 2% 20% 240,000 Individual and HUF if liable for tax audit
194-I (b) Rent on land or building or furniture or fitting 10% 20% 240,000 Individual and HUF if liable for tax audit
194-IA Transfer of certain immovable property 1% 20% 5,000,000 Other than Agriculture land
194-IB Payment of rent by individual or HUF 5% 20% 50,000 / Month If not liable for tax audit
194-IC Payment of money under Joint Development Agreements 10% 20%
194-J
Fees for professional or technical service
2% 20%
30,000/-
If payment is for technical assistance in a call centre
10% 20% All other payments including rights related to cinematographic films
194-K Payment of dividend on a unit of Mutual fund/administrator or from a specified company 10% 20% 5,000/- No 194-K is income is due to the sale of units i.e. capital gain
194-LA Compensation for compulsory acquisition of immovable Property 10% 20% 2,50,000/- No TDS if exempt.
194 – LBA (1) Business trust – Interest from an SPV or income from letting out real estate assets 10% 20% If payable to Indian company or resident.
194 – LBA (2) Business trust – Interest from an SPV 5% 5% If payable to a non-resident of a foreign company
194 – LBA (3) Business trust – Income from letting out real estate assets 30% 30% If payable to a non-resident of a foreign company
194 – LB Interest on infrastructure debt fund to non-resident 5% 20%
194 LBB Investment fund paying income to the unit holder 10% 30% Not deductible or exempt under section 10(23FBB) In the case of a foreign company or non-resident higher tax is deductible i.e. 30% or 40%
194 LBC Income from the securitisation trust 25% (Individual) 10% (Company) 30% In the case of a foreign company or non-resident higher tax is deductible i.e. 30% or 40%
194-M Payment of Commission, Brokerage, Contractual fees, Professional fees by Individual or HUF 5% 20% 50,00,000/- IF not liable for TDS under 194C, 194J, 194H
194-N
Cash Withdrawal
2%
20%
20,00,000/- Per account If a person has not filed ITR in the last 3 years
2% 1,00,00,000/- Per account If a person has filed ITR in the last 3 years
5% 1,00,00,000/- Per account If a person has not filed ITR in the last 3 years
194-O E-commerce operator for the sale of products or service 1% 20% 500,000 sales of goods or services facilitated by an e-commerce platform
194-Q Purchase of goods 0.10% 5,000,000 If a buyer’s turnover in the previous year is more than 10 Crore and he makes the payment for any goods in a year for more than 50 lakhs to a single party then a buyer will deduct TDS of 0.10% while making a payment to the same party.
195
Payment made to non-resident
15% Profit from STCG
10% Income from LTCG on securities
20% Income from LTCG from other assets
20% Income from investment
20%
Interest on money borrowed in foreign currency
10% On royalty payable or paid
10% Income from fees for technical service
30% On any other source of income

Note –

  • In the case of Non-resident or Foreign companies Additional cess of 4% and surcharge, if applicable is also deducted as TDS.
  • Section 195 – Payment to non-resident or foreign company
  • Section 206 AB – In the case of Non-filler of ITR rate of higher tax is applicable if not mentioned in the section about tax rate of non-filler.
  • Section 194-P – There is an exemption for a citizen of age 75 and above who has only pension income and interest income from the same bank. They do not need to file ITR and TDS will also be deducted as per the actual calculation of tax liability no more or no less. For availing of the benefit senior citizens of age 75 must file detail and application in a prescribed form to the bank.
Q3. What is the penalty for not filing a TDS return?

Penalty for not filing the TDS return:-

  • Late fees – 200/Day from the due date to date of filing ITR or TDS deducted for which statement is filed whichever is less
  • An additional penalty of u/s 271 H can be levied by an income tax officer minimum of 10,000/- up to 1 lakh if the return is not filled for more than 1 year.
  • If incorrect details are filled in like PAN, TAN, TDS Amount, Challan number then a penalty of 10,000/- up to 1,00,000/- can be levied u/s 271 H.
Q4. What is the penalty for not deducting TDS?

The following interests are chargeable if TDS is not deducted or deducted but not paid to the government:

  • 1% per month or part of the month from the due date of TDS to TDS deposited to the government by payer or payee(during his income tax return)
  • 1.5% per month or part of the month from the Tax deducted to the date of tax deposited to the government.
  • An additional penalty of 100% of the TDS amount can be levied for non-deduction or non-payment of TDS.
  • In some types of TDS like TDS on lottery or TDS on Dividend distribution tax, if not deducted then a penalty of imprisonment from 3 months to 7 years is also there in provision.
  • 30% reduction in expenses(on which TDS was deductible but not deducted/deposited) under business and profession for the purpose of calculation profit. The same is allowed once TDS is paid on such expenses.
  • Arrears of TDS if not recovered from the payee. E.g. Non-Resident or Foreign Company.
Q5. What if penalty for not having TAN or not mentioning TAN on the required document?

If you are required to have TAN but you do not have TAN and If you do not mention TAN on the required document then a penalty of 10,000/- can be levied.

Q6. What is the due date of deduction of TDS and deposit of TDS?
  • TDS should be deducted at the time of payment.
  • TDS should be deposited before the 7th of next month of payment made payment become due.
  • In the case of March month, the TDS deposit date is 30 April 2022.
Q7. What is the due date of TDS return filing?
Quarter Period Due date
1st Quarter April – Jun 31st July
2nd Quarter July – Sep 31st October
3rd Quarter Oct-Dec 31st January
4th Quarter Jan – March 31st May
Q8. What is a TDS certificate?

A TDS certificate is issued by the person who deducts TDS. It is given to the person whose TDS has been deducted. It contains detail related to tax amount deposited, PAN number, Chalan Detail, Date, Etc.

Q9. What are the types of TDS certificates?

The following are the types of TDS certificates:

  • 16 – TDS certificate by the employer to an employee for TDS deducted from salary.
  • 16B – TDS certificate for sale of property in case of the transaction value of the property exceeds 50 lakhs.
  • 16A – TDS certificate in all other cases
Q10. Where can I get my TDS details?

TDS certificate can be obtained from:

  • Downloading the detail from the income tax site.
  • Getting a certificate from TDS deductor e.g. employer.

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