TDS Statements or Returns: Every person responsible to deduct tax must funrnish TDS statement in specified form and in the specified manner. These statememts should be filed on or before the due dates specified in the Income Tax Act.
The different forms specified for filing TDS and TCS returns are listed below;
| Particulars | Form |
|---|---|
| TDS on Salary | Form No. 24Q |
| TDS on payment other than salary to a non-resident or a foreign company
or a resident but not ordinarily resident |
Form No. 27Q |
| TDS on payment other than salary to any person other than above | Form No. 26Q |
| TDS on sale of immovable property | Form No. 26QB |
| TDS on payment of rent by certain individual or HUF | Form No. 26QC |
| TDS on specified contract payment by certain individual or HUF | Form No. 26QD |
| Quarterly statement of collection of (TCS) tax at source | Form No. 27EQ |
TDS Certificates: It mandatory to issue TDS certificate downloaded from TRACES portal. The deductor should verify the accuracy of contents of such certificates issued to the deductees. The certificate is valid only if it is duly authenticated by a manual or digital signature. Such certificates should be signed by the deductor or by the authorised person of the deductor.
Different forms specified for TDS and TCS certificates are listed below;
| Particulars | Form | Issued |
|---|---|---|
| TDS on Salary | Form No. 16 | Yearly, 15th June |
| TDS on payment other than salary to a non-resident or a foreign company or a resident but not ordinarily resident |
Form No. 16A | Quarterly |
| TDS on payment other than salary to any person other than above | Form No. 16A | Quarterly |
| TDS on sale of immovable property | Form No. 26QB | For every transaction |
| TDS on payment of rent by certain individual or HUF | Form No. 26QC | For every transaction |
| TDS on specified contract payment by certain individual or HUF | Form No. 26QD | For every transaction |
| Quarterly statement of collection of (TCS) tax at source | Form No. 27D | Quarterly |
Due dates for Submitting different TDS and TCS returns and issuing certificates are listed below;
| Type | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| TDS | 31st July | 31st October | 31st January | 31st May |
| Form 16/16A | 15th August | 15th November | 15th February | 15th June |
| TCS | 15th July | 15th October | 15th January | 15th May |
| Form 27D | 30th July | 30th October | 30th January | 30th May |
| Form 26QB | On or before 30 days from the end of the month of deduction. | |||
| Form 26QC | On or before 30 days from the end of the month of deduction. | |||
| Form 26QD | On or before 30 days from the end of the month of deduction. | |||
Mode of Filing TDS Returns: The TDS statments can be filed in Electronic format only. Such electronic returns should be accompanied by Form No. 27A, duly signed by the authorised person of the deductor. Statments prepared should be submited through the Efiling portal of Income tax or through the TIN-FC managed by NSDL.