People doing freelancing find things related to income tax, TDS very difficult. Due to the mentality of not taking much work and tension, some people do not want to brainstorm on this subject. Useful information is being given here for such people. Just understand that through your PAN card, you can find out whether your TDS has been deducted or not.

As per Income Tax rules, after payment of a certain amount, it is taxed. It is available on commission, salary or income from other sources. On this only a part of the tax is deducted separately. This deducted amount gets credited to your PAN card account.

Is thec back?

If you do not fall in the income tax slab, then you get this TDS money back. For this you have to file ITR. As soon as you enter the PAN number in the ITR, your entire record gets linked to it. If you are outside the tax slab, the TDS amount is refunded.

How to Check TDS Status by PAN Card?

A means of collecting income tax from individuals and entities under the Income Tax Act 1961. All amounts covered under the provision of TDS are to be paid after deducting the prescribed percentage. TDS which is managed by the Central Board of Direct Taxes (CBDT) comes in handy while conducting a tax audit.

What is TDS Return?

TDS return is a quarterly statement that needs to be submitted to the Income Tax Department.

TDS return details

The TDS return contains details of the deductor, Permanent Account Number (PAN) , details of tax paid to the government, information about TDS challan along with other details required in the form.

How to check TDS status with PAN card?

To check TDS status using PAN card, one has to follow the below mentioned steps:

• Go to www.tdscpc.gov.in/app/tapn/tdstcscredit.xhtml
• Click ‘Proceed’
• Enter PAN and TAN
• Select the financial year as well as the quarter and type of return
• Click ‘Go’
• Details will be displayed on the respective screen

How to check TDS credit using Form 26AS?

To check TDS credit using Form 26AS, the steps given below need to be followed:

• Visit www.incometaxindiaefiling.gov.in/home
• register yourself
• If already a registered user, log in using the credentials
• go to my account’
• Click on ‘View Form 26AS’
• Select ‘Year’ and ‘PDF Format’
• download file
• Password protected file can be opened up to date of birth as per PAN card

Apart from knowing TDS status through PAN and Form 26AS, one can also check TDS online using net banking portal. However, for that PAN has to be linked with the net banking portal.

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In case of any delay in filing of tax deducted at source (TDS) return on or before the specified date, you have to pay a late filing fee of Rs 200 per day. According to Archit Gupta, Founder and CEO, Clear, this action is taken under section 234E of the Income Tax Act. Gupta told CNBC TV18, “Delay in TDS attracts penalty every day.

Fine may be imposed up to 1 lakh

In such a situation, while filing the return, you are first charged a late fee for being late and after that a fine is imposed. In this case, the Income Tax Officer can impose a fine ranging from a minimum of Rs 10,000 to a maximum of Rs 1 lakh. You cannot file TDS return without paying late fee and the late fee should not exceed the amount of TDS.

Returns submitted quarterly

So, if you want to avoid late fee and penalty while filing TDS return, don’t forget to file it ahead of time. The first scheduled date for filing quarterly TDS is July 31, 2022. Since this is also the last date for filing income tax returns, many taxpayers can get confused about it.

You must be aware that the TDS return should be filed by the last date of the month following the close of every quarter. This means that the return for the April-June quarter should be filed by July 31, the return for the July-September quarter by October 31, the return for the October-December quarter by January 31 and the return for the January-March quarter by May 31.

Why is Form 16 or 16A necessary?

To file TDS return, a taxpayer will need Form 16 or 16A, which is a certificate of deduction of tax on any type of income. It contains the details of the tax paid by the employer in lieu of the employee. Taxpayer can also calculate his TDS, TCS and Advance tax through Form 26AS.

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Those whose TDS has been deducted from their payment get credit on the basis of Form 26AS or TDS certificate given by the person making the payment. Taxpayers can verify TDS, TCS and Advance Tax information under 26AS. Form 26QB is there to verify TDS in property related matters.

Who files TDS return?

If a person buys some goods, then he deducts TDS on the payment made to the seller. This TDS should be deposited within 30 days from the end of the month in which it is deducted. The tax deduction account number should be there before filing the TDS return on the website of the Income Tax Department. This number should be mentioned in every document related to TDS. Apart from this, the taxpayer should also have a registered DSC (Digital Signature Certificate) for e-filing.

How to upload TDS details on Income Tax Portal

• First of all go to http://incometaxindiaefiling.gov.in/ and click on Login.
• After that fill the login related information. Here your TAN will be used as the User ID.
• After that click on Upload TDS.
• You will get a form in which you have to fill the correct information. After filling the details, verify it.
• You can verify this through DSC or electronic verification code.

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1 lakh will be fined for not returning TDS 

If you make any mistake in filing TDS return, then the Income Tax Department will charge a late fee of Rs 200 per day. In such a situation, while filing the return, first of all you will have to pay late fee for the delay. After this a fine (TDS penalty) will be imposed. In this case, the Income Tax Officer can impose a fine ranging from a minimum of Rs 10,000 to a maximum of Rs 1 lakh.

These documents are required to return TDS (Tax Deducted at Source) 

To file TDS return, the taxpayer will need Form 16 or 16A. Which is a certificate of deduction of tax on income on any kind of income. It contains all the details that the employer would have paid the tax in lieu of the employee. Taxpayer can also assess his TDS, TCS and advance tax through Form 26AS.

31st July is the last date

In ITR, you have to file the return of tds every quarter. The last date to file TDS (Tax Deducted at Source) return is 31st July. The TDS return must be filed by the last date of the coming month after the end of every quarter. April-June quarter returns up to 31st July, July-September quarter returns up to 31st October, October-December quarterly returns up to 31st January and January-March quarterly returns 31 Must be filed by May.

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When a person makes a payment to someone and deducts some percentage of it as tax, it is called TDS i.e. Tax Deducted at Source. This tax is sent to the account of the government by the person paying the tax. TDS is the tax deducted from where the income is generated. The last date to file TDS return for the first quarter of the financial year 2022-23 is 31 July 2022. It is worth noting that the last date for filing ITR for the year 2022-23 under review is also July 31.

Those whose TDS has been deducted from their payment get credit on the basis of Form 26AS or TDS certificate given by the person making the payment. Taxpayers can verify TDS, TCS and Advance Tax information under 26AS. Form 26QB is there to verify TDS in property related matters.

Who Files TDS Return
Archit Gupta, Founder and CEO of Income Tax Service Company Clear says that usually the TDS return is filed by the payer. He says, “Most employers file return of TDS deducted on salary. At the same time, if a person buys some goods, then he deducts TDS on the payment made to the seller. This TDS should be deposited within 30 days from the end of the month in which it is deducted. Before filing TDS return on the website of Income Tax Department, there should be a Tax Deduction Account Number. This number should be mentioned in every document related to TDS. Apart from this, the taxpayer should also have a registered DSC (Digital Signature Certificate) for e-filing.

How to Upload TDS Statement on Income Tax Portal

• First of all go to http://incometaxindiaefiling.gov.in/ and click on Login.
• After that fill the login related information. Here your TAN will be used as the User ID. After that click on Upload TDS.
• You will get a form where you have to fill the correct information. After filling the details, validate it.
• You can verify this through DSC or Electronic Verification Code.

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In the hustle and bustle of filing income tax return, you have not forgotten to file your tax deducted at source (TDS) return. If you do not file your TDS return before the stipulated time, then you may have to face a hefty fine along with late fees.

If there is a mistake in filing the TDS return, then the Income Tax Department charges a lit fee of Rs 200 per day. Not only this, if you have filed your return late, then the department can also end all your claims. In such a situation, while filing the return, first of all he charges you a lit fee for the delay, after that he imposes a fine. In this case, the Income Tax Officer can impose a fine ranging from a minimum of 10 thousand rupees to a maximum of 1 lakh rupees. You cannot file TDS return without paying late fee and the late fee should not exceed the amount of TDS.

When is the last date

for filing return If you also want to file TDS return and want to avoid late fee and penalty, then do not forget to file it before time. TDS return is filed every quarter and the last date for filing TDS return for the first quarter of the current financial year is 31st July. Since this is also the last date for filing income tax returns, many taxpayers can get confused about it
.

You must be aware that the TDS return should be filed by the last date of the month following the end of every quarter. This means that the return for the April-June quarter should be filed by July 31, the return for the July-September quarter by October 31, the return for the October-December quarter by January 31 and the return for the January-March quarter by May 31.

What Documents

Required To file TDS return, the taxpayer needs to have Form 16 or 16A, which is a certificate of deduction of tax on any type of income. It contains all the details that the employer would have paid the tax in lieu of the employee. Taxpayers can also assess their TDS, TCS and Advance tax through Form 26AS.

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