Quarterly TDS Return Filing Online and Offline; Step by Step Process
Tax Deducted at Source or TDS Return Filing is compliance filed by the deductor (payer) who is deducting the legitimate TDS at the time of paying the salary or any other payment to the deductee (income recipient). He (deductor) will pay back the deducted TDS amount to the government.
With all the tax compliances becoming an automated e-filing mechanism, filing the TDS return form and submitting it to the tax department is no more a big deal for the assessee. In fact, offline TDS compliance and payment is a zig-zag task for the assessee. Though TDS can be filed via both offline and online methods, the online mode of filing TDS through Gen TDS return filing software is grabbing more attention from taxpayers.
Filing Quarterly TDS Returns Online
E-filing of TDS returns is mandatory by every eligible taxpayer on a quarterly basis. Here is the procedure to file quarterly TDS return online:
Step 1 - One needs to duly fill the e-TDS or e-TCS form in a prescribed format which is mentioned by the authorities on the TIN NSDL website. Link: https://www.tin-nsdl.com/services/etds-etcs/etds-rpu.html
Step-2 - One needs to assemble the data for e-TDS or E-TCS in clean text ASCII format and prepare the file with .txt extension. Returns can be prepared using Return Preparation Utility which is facilitated by NSDL on any third party software.
Step 3 - Following the preparation of the file in accordance with the prescribed format, the file needs to be verified using the File Validation Utility (FVU) given by NSDL.
Step 4 - The FVU will help you identify the errors (if any). One needs to rectify the errors and verify the file again through the FVU.
Step 5 - Generated .fvu file is now ready to get uploaded on: http://incometaxindiaefiling.gov.in/ website.
Forms for TDS Return Filing
Depending on the purpose of deduction, forms shall be used for TDS return filing. These TDS return forms shall be duly signed and verified by the authorized signatory in Form 27A.
Looking at the nature of payment and purpose of deduction, the government has introduced various TDS return filing forms. The forms are further verified and authenticated with an authorized signatory in Form 27A.
- Form 24Q - TDS on salaries
- Form 26Q - TDS other than salaries
- Form 26QB - TDS on transfer of immovable property
- Form 27Q - TDS for non-residents
Filing Quarterly TDS Returns Offline
E-filing of TDS returns is mandatory by every eligible taxpayer on a quarterly basis. Here is the procedure to file quarterly TDS return offline:
Step 1 - One needs to duly fill the e-TDS or e-TCS form in a prescribed format which is mentioned by the authorities on the TIN NSDL website. http://Link: https://www.tin-nsdl.com/services/etds-etcs/etds-rpu.html.
Step-2 - One needs to assemble the data for e-TDS or E-TCS in clean text ASCII format and prepare the file with .txt extension. Returns can be prepared using ‘Return Preparation Utility’ which is the TDS return utility facilitated by NSDL on any third party software.
Step 3 - Following the preparation of the file in accordance with the prescribed format, the file needs to be verified using the File Validation Utility (FVU) given by NSDL.
Step 4 - The FVU will help you identify the errors (if any). One needs to rectify the errors and verify the file again through the FVU.
Step 5 - The .fvu file generated using the software shall now be submitted at TIN-FC
One needs to save the TDS return file in a pen drive or CD to make sure of its safety and is to be submitted to the TIN facilitation center along with Form 27A.
Due Dates for Filing TDS Return
The assessee must always keep in mind to fulfill the TDS filing formalities on or before the assigned due date to avoid penalties.
As per the provisions of Section 234E, the late filing of TDS returns will invite penalties of Rs. 200 per day of delay. Still one has to keep in mind that the amount charged as a penalty should not exceed the total amount of TDS. The return will not be excepted until the payment of late fees is due.
Penalties Assigned for Late or non-filing of TDS Returns
In the case of the non-filing of the TDS, the government has the right to impose a minimum of Rs. 10,000 to a maximum of Rs. 1,00,000. The penalty will be in addition to the late filing fees mentioned under section 234E.
In case if the taxpayer matches all the below-mentioned criteria he can escape penalties.
To be noted; All three conditions must be satisfied by the taxpayer in order to escape penalties.
- TDS payment is done to the Government.
- The late filing fee and interest are cleared to the credit of the Government.
- Such a return is filed before the expiry of one year from the specified due date.
