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FAQ on TDS & TDS Returns

 1. What is TDS?
TDS means Tax Deducted at Source. It is the amount withheld from payments of various kinds such as salary, contract payment, commission etc. This withheld amount can be adjusted against your tax due.
 2. What is E-TDS Return?
Electronic TDS Return or e-TDS return is the process of converting the TDS information’s for various payments into an electronic form and file the e-TDS Return/statement in the specified format prescribed by the NSDL.E-TDS return prepared in form No.24, 26 or 27 in electronic media as per prescribed data structure in either a floppy or a CD ROM. The floppy or CD ROM prepared should be accompanied by a signed verification in Form No.27A.
 3. Who all are required to file their TDS return electronically?
As per Income Tax Act, all corporate and government deductors are compulsorily required to file their E – TDS return on electronic media. It is the duty of above mentioned deductors to deduct the amount of income tax before paying to others and prepare return in form No.24, 26 or 27 or 24Q, 25Q or 26Q in electronic media as per prescribed data structure
 4. In Form No. 24Q, should the particulars of even those employees be given whose income is below the threshold limit or in whose case, the income after giving deductions for savings (Investments) etc. is below the threshold limit?
No, the Form 24Q should only contain:
  • Particulars of only those employees are to be reported from the 1st quarter onwards in Form No. 24Q in whose case the estimated income for the whole year is above the threshold limit.
  • In case the estimated income for the whole year of an employee after allowing deduction for various savings like PPF, GPF, NSC etc. comes below the taxable limit, his particulars need not be included in Form No. 24Q.
  • In case, due to some reason, the estimated annual income of an employee exceeds the exemption limit during the course of the year, tax should be deducted in that quarter and his particulars reported in Form No. 24Q from that quarter onwards.
 5. How is the Form 24Q for the fourth quarter different from the Form 24Q to be furnished for the first three quarters.
While furnishing Form 24Q for the first three quarters, Annexure II (salary details) need not be furnished. Only deductor details, Challan details and deductee details (Annexure I) have to be furnished for the first three quarters. However, for the fourth quarter, Annexure II, which gives salary details of the deductees, has to be furnished giving the details for the whole financial year.
 6. Do I need to provide separate figures under each section (like 80C, 80CCC etc..)?
There is no need to provide separate figures for each section under 80C, 80CCC, 80CCD and other provisions of Chapter VIA. Only the aggregate amounts are required to be mentioned in column respectively.
 7. What is Bank Branch Code? Where do I get it from?
Reserve Bank of India has allotted a unique seven-digit code to each bank branch. You are required to mention the code of the bank branch where TDS is deposited in the e-TDS/TCS return. You can get this code from the bank branch where TDS amount is deposited.
 8. By whom should the Form 27A be signed?
Form 27A is the summary of the TDS/TCS statement. It has to be signed by the same person who is authorized to sign the TDS/TCS statement in paper format.
 9. Can deductor file form 26Q separately for contractors, professionals, interest etc..?
No. A single Form 26Q with separate annexure for each type of payment has to be filed for all payments made to residents. E-Return should comprise a single file with all the details of Form26Q.
10. What are the important points to be taken into consideration while filing E – TDS Return?
  • Each E – TDS return should be accompanied by a duly filled and signed Form No. 27A in physical form.
  • Label should be fixed in each CD/ Floppy mentioning the name of the deductor, his TAN, form no.(24, 26 or 27) and the period to which it pertains.
  • E – TDS / TCS Return file should contain TAN of the deductor/collector without which, the return will not be accepted.
11. What are the due dates for filing TDS Returns?
Following are the due dates for filing of Quarterly TDS and TCS Returns in Form 24Q, Form 26Q, Form 27Q and Form 27EQ. Please file your returns on time to avoid penalty for late filing of TDS returns.
Quarter Form 24Q Form 26Q Form 27Q Form 27EQ
April to June 15th July 15th July 15th July 15th July
July to September 15th October 15th October 15th October 15th October
October to December 15th January 15th January 15th January 15th January
January to March 15th May 15th May 15th May 15th May
12. What can I do if I am unable to get the TDS certificate [form-16 or 16A]?
It is the duty of every person deducting tax to issue TDS certificate. In spite of your asking if you are denied the certificate then there is a chance that the tax deducted has not been deposited by the deductor to the government account. Please inform the department [PRO or TDS section] which will then do the needful.
13. I have not received TDS certificate from my employer. Can I claim TDS deducted from my salary?
Yes. The claim can be made in your return. Department however will raise a demand which will not be enforced on you but on your employer.
14. If the employer does not deduct tax and employee also does not pay his due tax, who will be held responsible for tax payment?
The ultimate responsibility to pay tax rests on the person who has earned income. If the employee deposits such tax then the employer will be liable for interest and penalty for failure to deduct tax.
15. Can I use PAN to pay the TDS deducted into government account?
No. You are required to take a separate Tax Deduction Account Number [TAN] by making an application in form 49B with the Tin facilitation centre of NSDL.