Annual TDS Return

An Annual TDS Return, also known as Form 24Q, Form 26Q, Form 27A, Form 26QB or Form 27EQA, is a comprehensive statement submitted by a deductor to the Income Tax Department (ITD) summarizing the total tax deducted at source (TDS) from payments made to various parties during the entire financial year (April 1st to March 31st). It serves as a consolidation of Quarterly TDS Returns and provides a holistic view of the deductor’s TDS compliance for the year.

Applications for Filing Annual TDS Return

Annual TDS Returns can be filed electronically using the ITD’s e-Filing Portal or ITD’s Traces Portal.

Eligibility for Filing Annual TDS Return

Any individual or entity that deducts TDS from payments made to others is required to file an Annual TDS Return. 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 Annual TDS Return

The specific documents required for filing Annual 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
• Consolidated details of payments made and TDS deducted for the entire financial year
• Proof of deduction (e.g., salary slips, invoices, rent receipts)