TDS Return

TDS Return

All organisations responsible for deduction of tax at source are required to submit to the prescribed income tax authority the relevant return(s) in the prescribed form, within a stipulated period.

Prescribed forms of return are as under:

Form 138: for filing quarterly statement of TDS that is deducted under section 392, i.e. TDS from salary

Form 140: for filing quarterly statement of TDS that is deducted under section 393(1) i.e. professional/technical fees, commission, rent, payment to contractor, etc. as per the provisions of section 393(1)
 

Filing of Return

Quarterly filing of the TDS return is a mandate. Failure to file TDS return on time may attract a fee of INR 200 per day, subject to amount of TDS.  Following due dates are specified for filing the returns:

Issuance of TDS Certificates

NPOs must issue TDS certificates to the deducted. Following forms are to be issued to the deductee:

• Form 130 – For salary payments (annually) (15^th June of the next tax year)
• Form 131 – For non-salary payments (quarterly) Within 15 days following the due date for quarterly TDS return

Procedure to File e-TDS / e- TCS Return

1. Login to Income Tax portal (link: https://eportal.incometax.gov.in/iec/foservices/#/login) using the TAN number allotted. Download CSI (Challan Status Inquiry) file
2. Download the RPU (Return Preparation Utility) from the NSDL Protean Website (link: https://tinpan.proteantech.in/downloads/e-tds/eTDS-download-regular.html). Prepare the e-TDS/e-TCS return in the RPU
3. Once the details are filed in the RPU, validate the details to generate a file with .fvu extension.
4. If the validation process reports errors, make the required changes and revalidate the process.
5. The FVU-file (generated should then be added to a compressed zip folder. The zip folder is uploaded by logging in to the Income tax portal (link: https://eportal.incometax.gov.in/iec/foservices/#/login)
6. After the FVU file is uploaded, proceed for filing the return to complete the process.