The TDS return must include the following information:
- Details of the payer: PAN, name, and address of the payer.
- Details of the payee: PAN, name, and address of the payee.
- Type of income: The type of income on which TDS was deducted.
- Amount of TDS deducted: The amount of TDS deducted from each payment.
- Date of TDS deposit: The date on which the TDS was deposited with the ITD.
TDS Return Filing Service
Tax Deducted at Source (TDS) is a system of tax collection in India where the payer of income deducts a certain percentage of tax from the payment made to the payee and deposits the same with the Government. The payee is then required to include the TDS deducted in their income tax return and pay the balance tax, if any.
TDS is deducted on various types of income, including salary, pension, rent, interest, commission, and professional fees. The rates of TDS vary depending on the type of income and the category of the payer and payee.
TDS return filing is the process of submitting a statement to the Income Tax Department (ITD) detailing the TDS deducted and deposited on behalf of the payees. TDS returns are required to be filed quarterly, within 30 days of the end of the quarter.
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