TDS stands for Tax Deducted at Source. As per the government’s TDS Scheme, tax needs to be deducted at the time of making payment to the person. Person who makes the payment – deducts & deposits TDS with the government. TDS is usually deposited to the government by submitting an ‘Income Tax Challan’ along with the payment. Besides depositing tax, as a Deductor, you must also file a TDS Return.
TDS & TCS Return
TDS & TCS Return
Types of TDS Return Forms
| Type | Particulars |
|---|---|
| Form 24Q | Statement for TDS from salaries |
| Form 26Q | Statement for TDS on all payments except the salaries. |
| Form 27Q | Statement for TDS on income earned from dividends, interests, or any other amount payable to non residents |
| Form 27EQ | Statement of TCS (Tax Collected at Source). |
Due Date for TDS Return Filing
| S. No. | Quarter Period | The due date for Filing Form 24Q,26Q,27Qs | The due date for Filing Form 27EQ |
| 1. | Q1 (1st April-30th June) | On or before 31st July | On or before 15th July |
| 2. | Q2(1st July-30th September) | On or before 31st October | On or before 15th October |
| 3. | Q3(1st October-31st December) | On or before 31st January | On or before 15th January |
| 4. | Q4(1st January-31st March) | On or before 31st May | On or before 15th May |
