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TDS is the Tax deducted at source charged at the time of making a payment to a person and is mandatory to be paid as per the Income Tax Act 1961. When an individual deducts these taxes he has to deposit TDS with the government. As per the rules, the employer who deducts the tax is known as the deductor and before making the payment he deducts the tax and renders it to the customer who is referred to as the deductee. This tax is then deposited with the central government of India.

As per the norms, the TDS is applicable for salaried employees, interest payout from banks, lawyer and consultant fees, etc. There is a certain slab fixed in deducting the taxes which can range around between 10-20%. Also a person can claim the refund of the extra amount if his/her TDS deduction exceeds the limit. TDS payment is available in two forms; the electronic mode or E-payment and the Physical mode.

TDS return filing is very important so as to recover your refund. TDS return is a quarterly statement handed over to the income tax department which includes PAN details, particulars of Tax paid, details of TDS challan and various other required documents.

TDS Due Date

Particulars Quarter DUE DATE
TDS on Salaries(24Q) April-June July 31
TDS on all payments other than salaries(26Q) July-September October 31
TDS on payments to non residents(27Q) October-December January 31
January-March May 31
April-June July 15
TCS(27EQ) uly-September October 15
October-December January 31
January-March May 31

Details required for TDS returns filings

  • Name of the Entity (Proprietorship/ Partnership/ Company/ LLP)
  • Date of Incorporation of the business
  • TAN details
  • PAN details
  • No of Transaction for filing TDS returns
  • Period for which TDS has to be filed
  • Last TDS filing details if any


TDS means Tax Deducted at Source. It is the amount that is deducted from payments of various kinds such as salary, contract payment, commission etc. This deducted amount can be adjusted against the tax due of the deductee.

It is the sole duty of the person who is making payment to someone for specified goods or services to deduct TDS and file TDS return. The specified payment includes salary, interest, commission, brokerage, professional fees, royalty, contract payments, etc. The person who deducts TDS is called deductor and the person whose tax is being deducted is called deductee.

TDS is not required to be deducted by Individuals and HUF except for those whose accounts are required to be audited u/s 44AB i.e. whose gross receipts in preceding financial year in case of business is more than 2 crore (AY 2017-2018) or 1 crore ( AY 2016-2017) and in case of profession 50 lakhs ( AY 2017-2018) or 25 lakhs (AY 2016-2017).

TAN is an alphanumeric 10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such person must make an application within a month of deducting TDS for allotment of Tax Deduction and Collection Number (TAN) in Form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans etc. If a person fails to apply for TAN he may be penalised up to Rs. 10,000/-.

Various types of TDS forms are:

  • Form 24Q -TDS on Salaries
  • Form 26Q – TDS on payments other than Salaries
  • Form 27Q – TDS on payments made to Non-Residents
  • Form 27EQ – TCS

PAN of the deductor has to be given by Non-Government deductors. It is essential to quote PAN of all deductees.

Due dates of submission of quarterly TDS Return is 31st July for Q1, 31st October for Q2, 31st January for Q3, and 31st May for last quarter,

Following table gives the types of payments, threshold limits and the rates at which TDS is to be deducted.