TDS Return Filing

Tax Deduction at Source (TDS) is governed by Chapter XVII-B of the Income Tax Act, 1961 (Sections 192 to 196D). The deductor must:\n\n1. Deduct tax at applicable rates at the time of payment or credit, whichever is earlier (Section 199)\n2. Deposit deducted tax to the government within prescribed timelines — by 7th of the following month (30 April for March)\n3. File TDS returns quarterly in the prescribed forms:\n - Form 24Q — salary TDS (Section 192)\n - Form 26Q — TDS on non-salary payments (contractor, professional, rent, etc.)\n - Form 27Q — TDS on payments to non-residents\n - Form 27EQ — Tax Collected at Source (TCS)\n4. Issue TDS certificates — Form 16 (salary, annual) and Form 16A (non-salary, quarterly)\n\nDue dates for quarterly returns:\n- Q1 (Apr–Jun): 31 July\n- Q2 (Jul–Sep): 31 October\n- Q3 (Oct–Dec): 31 January\n- Q4 (Jan–Mar): 31 May\n\nConsequences of non-compliance:\n- Late filing fee under Section 234E: ₹200/day until return is filed (maximum = tax deducted)\n- Penalty under Section 271H: ₹10,000 to ₹1,00,000 for failure to file\n- Disallowance of expenses under Section 40(a)(ia): 30% of payments where TDS not deducted/deposited