Quarterly TDS Return

A Quarterly TDS Return, also known as Form 24Q, Form 26Q, Form 27Q, or Form 27EQ, is a statement submitted by a deductor to the Income Tax Department (ITD) summarizing the tax deducted at source (TDS) from payments made to various parties during a specific quarter (April to June, July to September, October to December, or January to March). It is a crucial aspect of tax compliance for businesses and individuals responsible for deducting TDS.

Applications for Filing Quarterly TDS Return

Quarterly TDS Returns can be filed electronically using the ITD’s e-Filing Portal or through our commercial tax filing platform.

Eligibility for Filing Quarterly TDS Return

Any individual or entity that deducts TDS from payments made to others is required to file Quarterly TDS Returns. This includes employers deducting TDS from employee salaries, businesses deducting TDS from professional fees or rent payments, and individuals deducting TDS from interest income.

Documents Needed for Filing Quarterly TDS Return

The specific documents required for filing Quarterly TDS Returns may vary depending on the type of TDS deducted and the nature of the transactions. However, common documents typically include:

• PAN card of the deductor and deductee
• Challan details for TDS payments
• Details of payments made and TDS deducted
• Proof of deduction (e.g., salary slips, invoices, rent receipts)

Importance of Timely Filing Quarterly TDS Return

Filing Quarterly TDS Returns on time is crucial to avoid late filing penalties, ensure accurate tax records, and maintain compliance with tax regulations. It also helps establish a good track record with the ITD. The deadlines for filing Quarterly TDS Returns are as follows:

• Quarter | Due Date
  • 1st Quarter (April to June) | 31st July
  • 2nd Quarter (July to September) | 31st October
  • 3rd Quarter (October to December) | 31st January
  • 4th Quarter (January to March) | 31st May