In order to understand the process and procedure of filing quarterly Tax deducted at source (TDS), we should first have a look at what TDS is.
The Definition & Meaning of TDS
TDS is defined as the tax deducted at the source when payment exceeds a certain fixed limit decided by the government in any transaction carried out for business or trade. Deduction of TDS is most typically noticed in the payments of salary in general. While paying salaries to employed workers or paying for services such as rent and construction, TDS is to be extracted if the amount is above the threshold limit amount.
The TDS return is submitted to the Income Tax Department of India. If one fails to do so, the department may initiate penalties and legal action against the firm’s owner. The TDS return should be filed before the due date.
April to June (Q1)
July to September (Q2)
October to December (Q3)
January to March (Q4)
What Are The Penalties For Non-filing/Delay?
As per the case and situation, penalties can range from ₹10,000 to ₹ 1,00,000.
How Do We File Quarterly TDS Return?
Well, TDS can be filed through both online and offline processes quarterly.
Here is the Procedure to File TDS Returns Quarterly. As stated, it can be filed through both online and offline methods:
- Visit the TIN website and download RPU version 4.1 (4.1 is the latest version.)
- The following features are mandatory for installing and extracting the rpu file.
- Java run-time environment Version 1.6.
- The operating system should be windows 2003 and above.
- The Java RPU utility should be installed on the same path as e-TDS/TCS FVU utility jars
- If you have all these features, the below screenshot page will appear.
- You should choose Form No. from the drop-down as per the purpose for which you have charged the TDS.
- 24 Q for TDS on Salary
- 26 Q for TDS on Other than Salary
- 27 EQ for TCS
- 24 Q for TDS on Non-Residents
- You should have all the data of the owner or firm for whom you are filing the TDS, such as PAN, TAN, address, all the challans, etc. If you file for yourself, you should keep the data readily available. You can even save the data in the form of an excel file and easily copy-paste it.
Herein, you need to Select ‘type of statement to be prepared’: Then you should Choose Regular for fresh quarterly TDS returns and you should select Correction in order to make corrections in the previously filed TDS returns.
Besides, you should select Regular if you are filing for fresh quarterly TDS return using the online method
- You should click on continue, then a page will come up wherein you got to fill only three sections. The following three sections:
- The form
- The challan
- The deductee details
The next few how to fill all these sections correctly is mentioned in the next steps.
- On the form page, Under, Particulars of statement – You are only required to fill in the details marked with a star (*) symbol.
Fill in these details-
- PAN number*
- TAN number*
- Financial year*
- Type of Deductor* (Choose your Deductor for which you are filing the TDS. For instance, company in case you are filing for the company).
- For quarter Ended* (Choose a quarter like first, second, or third for which quarter you are filing the return).
You should fill in all the details very carefully. Always cross-check the financial year.
- Now, after filling in the particulars of the statement, go below and fill in Particulars of Deductor (Employer)- You have to fill in all the basic details, Such as-
- Branch if any
- Mobile number
- Has the address changed Since the last return (select yes if yes, no if not)
- Now, You have to fill out the Person’s Particulars responsible for Deduction of Tax – You have to fill in all the basic details, such as:
- Branch if any
- Mobile number
In case the person is the same as the one for whom Deductor’s particular details have been filed, you can choose the same above box.
- The last detail for this page you have to add is the Receipt number of the previous TDS return filed for the first quarter (Q1), and then click on save and save your file.
- Now come to the Challan page and fill in the details. For adding challan details
- Click on Add Rows present at the bottom of the page
- Enter the number of rows to be added- You have to enter the number of rows you want for entering the number of challans you want to add. Ex- If you have one challan, enter one. If you have ten challans, enter ten.
- Now, you have to fill in specific details of every challan. Suppose you have prepared data in excel for challan details, you can directly paste it.
- Only those fields will be vacant which are relevant to your TDS return filing online, such as.
- Education Cess
- BSR code/Receipt number
- The date on which amount deposited through challan
- Serial number of challan
- Mode of deposit through book adjustment
- Interest to be allocated
- Minor head of challan 200-TDS payable by taxpayer 400-TDS regular assessment
Fill all the challan details in this manner correctly.
1. Go to the following page, go to Deductee Details, and fill in the deductee information. If you have two deductees on one challan, insert two rows. If you have four deductees, enter four, and so on.
• To enter rows, go to the bottom of the page and click insert rows, then fill in all of the deductee information.
Charges Per Deductee
Up to 100 records
From 101 to 1000 records
More than 1000 records
- When you've finished filling out all of the fields, click the Create File button. The flash message box will inform you if there is a mistake and how to correct it. Then the screen below will show.
- In this stage, you must upload the challan file. Click here to get the challan file. You will be directed to the TIN website.
- Enter the TAN number and Quarter period details in the Tan-based view, then save the downloaded file. It's fairly straightforward.
- You already have the file, so go ahead and select the challan. Simply type the path to the area where you wish to see the error reports in the second column. Sort them if there are any.
- Select Validate from the drop-down menu.
You must submit your TDS statements to your local TIN facilitation centre, which will issue a receipt if the submission is proper and successful.
• If your application is turned down, you will receive a memo explaining why.
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