ETDS Filing
What is the Process of TDS Return Filing?
TDS stands for Tax Deducted at Source and it is the tax which is paid in advance by person responsible for making payments in the form of salary, contract payment, dividends, Funds etc. to Government as per income tax slab rate. Person deducting the tax is known as deductor and the person whose tax is being deducted is known as dedicatee. Recipient of income receives the net amount (after deducting TDS) which may be in the form of cash or cheque or credit in payee's account
What is a TDS Return Filing?
TDS return filing is a quarterly statement submitted to Income Tax Department and is required to be submitted by deductor. Return contains the details of TDS deducted and deposited by deductor, PAN of deductor and deductee, TDS challan information, etc. There are different TDS forms which are prescribed depending upon purpose of deducting TDS. TDS return filing must be done by every assesses who has deducted TDS after prescribed intervals.
Services rendered by HVJ & Associates:
Other than Salary Returns(NRI/Foreign) - Form 27Q filing
Issuance of Consolidated files and justification reports
Issuing TDS/TCS Certificates (Form 16/ Form 16A/Form 27D/Form 16B)
Assisting in clearing TDS Notices & Defaults.
Obtaining Lower Tax Certificate both for Resident and Non Resident assessees.
Traces Portal Registrations
Other TDS Compliance:
i. Rectifying PAN Mismatch & Challan Mismatch.
ii. Declaration for Non-filing Statements & TDS Refunds.
iii. Any other consultation with regards to TDS deductions & related matters.
How To Do Online TDS Return Filing?
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The format of the file or the data structure in which e-TDS or eTCS return must be prepared.
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Once that is done, the e-filing of TDS return is made according to the formats in a clean text ASCII format with the file extension of “txt”. e-TCS or e-TDS return filing should be or can be prepared with the help of using return preparation utility provided by either the NSDL or by means of any other third party software.
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Once your file is prepared, as per how the file format should be it’s time to verify it by using file validation utility or FVU which is also provided by NSDL.
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Just in case the file has got any errors, the FVU will then give a report of those errors. You can rectify those errors and then verify the file again via FVU.
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The generated “.fvu”, this file then can be submitted to TIN-FC and then uploaded to the government income tax e-filing website.