TDS Return Filing Service Tax deduction at source (TDS) in India is a method of collecting taxes on income, profits, or sale of goods by requiring the taxpayer (or legal arbitrator) to deduct the appropriate tax before paying the balance to the payer (and tax on non-authorized income).
Benefits Of TDS Return Filing Service
• It enables taxpayers to pay their taxes monthly. It helps people earn money to pay taxes in easy instalments and avoids the burden of the lump sum.
• Tax collection at the time of payment for various projects such as contractors, specialists, etc.
• The government needs funding all year round. Therefore, tax and advance deductions help the government earn money all year round and manage the government effectively.
Types of TDS Filing Forms
• Forms 24Q- This form is for the TDS deducted on the salary under Section 192 of the Income Tax Act, 1961.
• Forms 26Q- This form is for the TDS deducted on all the payments received other than the salary.
• Forms 27Q- This form is for payments other than salaries made to non-resident Indians and foreigners.
• Forms 27EQ- This form contains TAN (Tax Deduction Account Number), which shows TCS (Tax Collected at Source) collected by sellers
.• Forms 27D – This form shows the certificate of tax Collected at Source. It contains details of seller and buyer, TAN, PAN, tax collected, and date of collection.
Documents required for TDS Return Filing Service
• PAN card
• Aadhaar card
• Form 16
• Salary slips
• Form 26AS
• Form 16A
• Deductions under Section 80D to 80U
• Capital Gain Statement
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