Who should file TDS/TCS return?

By Hiral Vakil on May 6, 2019

As per the Income Tax Act, every deductor who deducts/collects TDS/TCS is liable to file TDS/TCS return. The following deductors are required to file TDS/TCS return quarterly, if they have deducted any TDS from payment made.

  • Corporate/ Company
  • Government Offices
  • Individuals if covered under section 44AB (mandatory audit)

It is mandatory to file TDS/TCS return within prescribed due dates. If return is not filed within due dates then deductor/collector will be liable to pay penalty for non-filing of return.

What is TDS Return?

TDS Return/Statement is a summary of all the transactions related to TDS made during a quarter of a financial year. It needs to be submitted to the income tax department quarterly before due date. TDS return contains details of TDS deducted and deposited by a deductor. TDS return has basic details of deductor and deductee like PAN, TAN etc, TDS Challan information, deduction details and other information as required by the government.

Who is required to e-file TDS return?

Following deductors are required to compulsorily e-file their TDS Return:

  • All Government Offices
  • All companies
  • Every person who is required to get his accounts audited
  • Any other deductor, where number of deductees records in a return for any quarter of the financial year are 20 or more.