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eTDS

ELECTRONIC TAX DEDUCTED AT SOURCE

Filling e-TDS return is compulsory for company and government deductors as per section 206 of Income tax law. So, it is the need of time to learn how to fill e-TDS return, if you are interested to work as accountant in company or government sector.
Before learning simple steps, you should know, what is e-TDS? E-TDS means electronic tax deducted at source. It is duty of above mentioned deductors to deduct the amount income tax when they pay 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 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.

Following are the returns for TDS and TCS and their periodicity

Form No Particulars Periodicity
Form24 Annual return of "Salaries" under Section 206 of Income Tax Act, 1961. Annual
Form26 Annual return of deduction of tax under section 206 of Income Tax, 1961 in respect of all payments other than "Salaries" . Annual
Form27 Statement of deduction of tax from intrest,dividend or any other sum payable to certain persons. Quarterly
Form27E Quarterly statement for tax deducted at source from "salaries". Quarterly
Form24Q Statement of deduction of tax from intrest,dividend or any other sum payable to certain persons. Annual
Form26Q Quarterly statement for tax deducted at source in respect of all payments other then "Salaries". Quarterly
Form27Q Quarterly statement for tax deducted of tax from interest, dividend or any other sum payable to non-residents. Quarterly
Form27EQ Quarterly statement of collection of tax at source. Quarterly

Central Board of Direct Taxes (CBDT) has appointed National Securities Depository Ltd. (NSDL), Mumbai as e-TDS Intermediary.

5 Simple Steps for filling e- TDS Return

  • Choose the format or data structure for preparing e-TDS return.
  • E-TDS return for successful acceptance.
  • Validate or verify your prepared e-TDS return.
  • Rectify the errors and verify the file.
  • Filling of e-TDS Return.

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