TDS Return Forms — Which Applies to You?
| Form | Who Files | TDS Applicable On | Due Date |
|---|---|---|---|
| Form 24Q | All employers | Salaries (Section 192) | 31 Jul / 31 Oct / 31 Jan / 31 May |
| Form 26Q | Companies, firms, individuals (audit cases) | Payments other than salary (rent, professional fees, interest, contractor) | 31 Jul / 31 Oct / 31 Jan / 31 May |
| Form 27Q | Any deductor | Payments to non-residents (NRIs) u/s 195 | 31 Jul / 31 Oct / 31 Jan / 31 May |
| Form 27EQ | Sellers of specified goods | Tax Collected at Source (TCS) — Section 206C | 15 Jul / 15 Oct / 15 Jan / 15 Apr |
* Q4 due date (31 May) is for the last quarter ending 31 March.
Common TDS Sections & Rates
| Section | Nature of Payment | TDS Rate | Threshold |
|---|---|---|---|
| 192 | Salary | As per slab | Above basic exemption |
| 194A | Interest (other than securities) | 10% | Rs. 40,000 (bank); Rs. 5,000 (others) |
| 194C | Contractor / sub-contractor | 1% / 2% | Rs. 30,000 per transaction / Rs. 1 lakh annual |
| 194H | Commission / brokerage | 5% | Rs. 15,000 |
| 194I | Rent | 2% / 10% | Rs. 2,40,000 per annum |
| 194J | Professional / technical fees | 2% / 10% | Rs. 30,000 |
| 194Q | Purchase of goods | 0.1% | Rs. 50 lakh from a single seller |
Penalties for Late TDS Filing
Rs. 200 per day for every day of default — from the due date until the return is filed. The total penalty cannot exceed the total TDS amount for that quarter. This is a mandatory fee, not waivable.
If the return is not filed within 1 year from the due date: penalty of Rs. 10,000 to Rs. 1,00,000 in addition to Section 234E levy. Also applicable for furnishing incorrect information.
Beyond penalties, late/incorrect TDS returns result in TRACES mismatches — the deductees (employees/vendors) cannot claim TDS credit in their ITR, causing disputes and demand notices.
Our TDS Compliance Services
Apply for Tax Deduction Account Number (TAN) — mandatory for all deductors. Form 49B online application.
File Form 24Q, 26Q, 27Q or 27EQ on time via TRACES portal. Challan verification before filing.
Rectify errors in filed TDS returns — wrong PAN, short deduction, challan mismatch — through TRACES correction statements.
Generate and issue TDS certificates — Form 16 (salary) and Form 16A (non-salary) — to employees and deductees.
Reconcile TDS deposited with Form 26AS and AIS to ensure full credit reflection for deductees before ITR filing.
Apply for Form 13 (lower/nil TDS certificate) under Section 197 for eligible individuals and businesses.
TDS Return Filing Process
Collect payment details, deductee PAN, challan numbers (BSR code + date + serial), and TDS amounts for the quarter. We provide a structured data template.
Verify TDS challans against OLTAS (Online Tax Accounting System) to ensure correct mapping before return preparation. Mismatched challans cause demand notices.
Prepare the return file using NSDL's Return Preparation Utility (RPU) and validate using File Validation Utility (FVU). Resolve all validation errors before submission.
Upload validated FVU file to TRACES/TIN-NSDL portal. Online upload via DSC (Digital Signature Certificate) or physical submission at TIN-FC for returns with 20+ deductees.
Download provisional receipt / acknowledgement. Generate and issue Form 16 (salary — by 15 June) or Form 16A (quarterly — within 15 days of due date) to deductees.
Frequently Asked Questions
File Your TDS Returns On Time
Avoid Rs. 200/day penalty under Section 234E. Our tax team handles all quarterly TDS returns, correction statements and Form 16/16A generation for Pondicherry businesses.