How to file TDS Return | Form 24Q & Form 26Q

In this article we will know what is TDS Return? Who has to fill? Information about Form 24Q and Form Form 26Q related to this has also been included in it. (How to file TDS Return | Form 24Q & Form 26Q )

How to file TDS Return | Form 24Q & Form 26Q

What is TDS Return?

For example, our company or institution, which deducts our TDS, submits its details to the government through TDS Return. Similarly, the bank or the paying institution which deducts TDS on any other type of income also has to hand over its details to the government through TDS return.

TDS return is a quarterly statement. In this, the details of TDS deductions made during every quarter have to be entered and deposited with the Income Tax Department.

It is mandatory to file the first quarter return by July 31. Similarly, it is mandatory to file the return of the second quarter by 31 October, the third quarter by 31 January and the fourth quarter by 31 May.

Like TDS, the businessmen who collect TCS also have to submit its details to the government through TDS return. What are these TDS and TCS, we are also giving a brief introduction about them here-

What are TDS and TCS?

TDS means – ‘Tax deducted at source’ and TCS means Tax collected at source, both are such taxes, which are paid at the time of payment. are charged only. But, there is a difference in the process of recovery of both-

  • In TDS , the tax (TDS) is deducted before the income is paid. Only the amount remaining after deducting TDS is given. Because of this, the payee gets some amount less. There are rules for deducting TDS for certain payments made beyond a certain limit. For example, salary, interest, rent, reward, etc.
  • In TCS, at the time of taking payment of the cost of an item, the total price is charged by adding additional tax ( TCS ). Because of this, the payer has to pay more than the total cost. There is a rule to charge TCS only on commercial purchase of certain items. Such as alcohol, minerals, tendu leaves, scraps and so on.

How many types of TDS return

There are different forms to be used by a company or firm to give details of TDS deducted for different purposes. As if-

  • Form 24Q
  • Form 26Q
  • Form 26QB
  • Form 27Q
  • Form 27EQ

Let us know when and why these forms are used.

What is Form 24Q?

The details of the salary payments made to the employees and the TDS deducted on them are given to the Income Tax Department through Form 24Q. It has to be submitted every quarter on behalf of companies and firms. In this, details of TDS deducted on salary payments have to be given along with the details of Deductor, Deductees, Challans. Along with Form 24Q, two forms are also to be submitted as Annexure I and Annexure II. Annexure I has to be submitted after every quarter, whereas Annexure II has to be submitted only after the last quarter.

It is mandatory for some special categories of people to submit this form online-

  • If the deductor of TDS is a government department
  • If the deductor is an officer appointed on behalf of a company
  • If it is mandatory for the deductor to maintain accounts
  • Accounts audited under 44AB in the previous year
  • deductees have more than 20 records in any one quarter

What is Form 26Q?

This return is filed for any kind of payment (interest, rent, commission etc.) other than salary. In such cases, the details of TDS deducted during the previous quarter are furnished to the Income Tax Department through Form 26Q.

Only Indian citizens and people working in India have to give details of TDS deducted in it. 

For non-government deductors deducting TDS, it is mandatory to mention their PAN number while filing returns. In case of government deductors, it is necessary to write “PANNOTREQD” in the form.

What is Form 26QB?

The details of TDS deducted on the payment made for land, property, house or any other type of immovable property have to be filled in Form 26QB and submitted to the Income Tax Department.

What is Form 27Q?

In this form, details of such TDS collected from NRIs and foreigners, which are deducted on any kind of payment other than salary, are given.

What is Form 27EQ?

TCS (tax collected at source) collected during every quarter, on sale of certain types of goods as prescribed by the Government. Its details have to be filled in Form 27EQ and submitted to the Income Tax Department.

Preparation before uploading TDS returns

Before starting the process of filing TDS return, you must have the following:

  • You must have your TAN number. Your TAN should also be registered on the Income Tax website.
  • During the quarter, the details of TDS deducted on your behalf should be ready on the Return Preparation Utility (RPU). These TDS statements should also be validated through File Validation Utility (FVU).
  • If you want to authenticate the return with the help of DSC. You must have a valid Digital Signature Certificate (valid DSC) for e-filing.
  • If you want to authenticate your TDS return through EVC, then your bank account or demat account or PAN number should be linked with your Aadhaar number.

How to file TDS Return Online

You can file your TDS Return by visiting the website of Income Tax Department. The process required for this is as follows-

Step 1: Go to IT e-filing website

Go to the homepage of the Income Tax Department website. Its link is https://www.incometax.gov.in. Click on the link of Login present on the top right side of the homepage.

Step 2: Login in your account

On the login page, enter your User ID (TAN Number), and tap on Continue. Enter the password by tapping the checkbox and tap on Continue

Step 3: Upload TDS statement

On the next page, you see the TDS tab above, if you click on it, then the option of ‘Upload TDS’ is available on the first number. Click on this.

Step 4: Validate Statement details

On the next page, you are asked to validate some details related to your TDS statement. Such as TAN number, FUV version, Financial year, Name of TDS form, 24 Q/26Q etc., Quarter order (Q1/Q2 etc.) and Upload type has to be selected. Note: Only Regular Statements type can be uploaded on the e-filing portal.

Then click on the Validate button at the bottom .

Step 5: Upload TDS ZIP file 

On the next page you have the option to upload your TDS statement. Look at the bottom, where Upload TDS (.zip) file is written. Click on Browse in front of it and upload your TDS/TCS Statement. (You have to prepare TDS/TCS statement by downloading it from the website of tin-NSDL website.

Step 7: “Attach the Signature file”

If you want to authenticate your return with digital signature, then you have to download its file. Prepare this file through DSC Management Utility and then select it by clicking on Browse button. Then upload the Signature file by clicking on the upload button below.

Note: Signature file generated on the system can be used only once. For each time you have to generate separately.

You can also opt for e-verification 

If you are not able to generate DSC then you have to authenticate your TDS statement through EVC. In such a situation, in the screen that appears in front of you, the option of click here to E-verify appears at the bottom . By clicking on it, you can complete the further process. 

Note: You can do e-verification with the help of net banking or bank account number or demat account number. Apart from these, the option of Aadhaar OTP can also be adopted.

Success Massege | process completion notification

As soon as the TDS return upload is complete, the message of its successful completion will appear on the screen. Information in this regard is also sent on your registered email id.

How to view filed TDS Statement

  • After login to the Income Tax eFiling website, click on the TDS tab. Here you see the option of View Filed TDS on the second number. Click on this.
  • In the next step, select your TAN Number, Financial Year, Form Name, Quarterly Order, etc. and click on the View details button at the bottom . 
  • You will see a list of all the accepted “Accepted” and Rejected “Rejected” TDS statements. Click on the token number of the statement you want to see, all the details will appear in front of you.

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