TDS is an indirect method of collecting Income Tax. The person receiving payments after-tax is entitled to the tax credit of the amount deducted. This tax credit can be claimed on the basis of Form 16A which is issued by the deductor or Form 26AS which can be downloaded from e-Filing account on incometaxindiaefiling.gov.in. Moreover, the Income Tax e-Filing portal provides the function to upload the TDS return file.
Steps to Upload TDS Return on e-Filing Portal
- Visit the e-Filing Portal and Login
Login using your deductor credentials on the e-filing portal.
- File TDS Return Option
Click on e-File > Income Tax Forms > File Income Tax Forms from the dashboard.
- Form TDS
Click on the “File Now” option on the Deduction of Tax at Source – TDS Form card.
- Proceed to Upload TDS Form
Click on the “Let’s Get Started” option on this page.
- Enter required details
Enter the following details and then click on Proceed to e-verify:
a. Select Form from dropdown
b. Enter Financial Year and Quarter
c. Select Upload Type
d. Upload TDS zip file
- e-Verify TDS Return
Validate the return using the OTP sent to the registered mobile number to complete the process.
Therefore, you will receive a success message on the completion of the process.
In case you have not generated your DSC, you will be able to validate the TDS statements using the Electronic Verification Code (EVC). After uploading the TDS file, click on the “e-Verify” option.
TDS/TCS returns filed in electronic form as per section 200(3)/206C, as amended by Finance Act, 2005, are quarterly TDS/TCS statements. As per the Income Tax Act, these quarterly statements are required to be furnished from FY 2005-06 onwards; however, as advised by Income Tax Department, acceptance of e-TDS/TCS statements pertaining to Financial Years prior to 2007-08 has been discontinued at TIN. The forms used for quarterly e-TDS statements Forms are Form 24Q, Form 26Q and, Form 27Q and for the quarterly e-TCS statement in Form No. 27EQ. These statements filed in CD/Pen Drive should be accompanied by a signed verification in Form No. 27A in case of both, e-TDS/TCS statements.
As per the Income Tax Act, 1961, all corporate and government deductors/collectors are compulsorily required to file their TDS/TCS statements in electronic form i.e. e-TDS/TCS returns. However, deductors/collectors other than corporate/government can file either in physical or in electronic form.
The due dates for filing quarterly TDS returns, both electronic and paper are as under:
– For Quarter starting from April till June due date is 31st July
– Quarter starting from July till September due date is 31st October
– For Quarter starting from October till December due date is 31st January
– For Quarter starting from January till March due date is 31st May