Filing TDS Returns for Private Limited or Proprietary Concerns: What Steps Should You Follow?

Sir, what is the process of filing a return of TDS in a Pvt. Ltd./ prop. concern?

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Hi!

The process of filing a return of TDS in a Private Limited or proprietary concern typically involves several steps. Firstly, ensure that you have deducted the correct amount of TDS as per the income tax regulations. Then, compile all the necessary details and documents related to TDS deductions made during the specified period.

Next, login to the income tax e-filing portal and select the appropriate form for filing TDS returns. Fill in the required details accurately and verify the information provided. Once you have reviewed the form, submit it electronically on the portal.

After submission, a receipt will be generated as proof of filing the TDS return. It is essential to keep a copy of this receipt for future reference. Additionally, ensure timely payment of any TDS liabilities to avoid penalties or interest charges.

If you require further assistance or clarification on the TDS return filing process, please feel free to ask.

Thank you.

Dear Friends,

TDS returns mean e-Returns from whom we have deducted tax against Salary Income, Consultancy services, Rent, and Contract payments, etc., and these returns have to be submitted every quarter. The due date of submission is the fifteenth of the following quarter, and the last quarter returns can be submitted up to June 15.

In this e-returns pattern, there are three types of forms:

- Form 24 (for whom we have deducted tax from employees against their taxable salary income)
- Form No. 26 (for whom we have deducted tax from consultancy services, rent, contractors, etc.)
- Another Form 27 can be used if we deducted any tax from Foreign consultants/payments, etc.; otherwise, no need.

However, if we don't have any tax deductions from employees or rent, consultancy, still, we have to submit nil returns.

Along with the above forms, we have to submit a hard copy of Form No. 27.

For submitting these forms, we need an e-Returns software. We can download free software from Tax Information Network or buy from outside software dealers like My Tax Assistant's Skrodov or Taxman's, etc.

If you want more information, just go through the NSDL website above, and you will get complete information about e-Returns.

Regards,
Sravan