As per the government’s TDS Scheme, tax has to be deducted at the time of making payment. Person who makes the payment – deducts & deposits TDS with the government. TDS deducted is usually deposited to the government by submitting an ‘income tax challan’ along with the payment. Besides depositing tax, as a Deductor, you must also file a TDS Return. A TDS Return is a quarterly statement which has to be submitted to the income tax department. Submitting TDS Return is mandatory if you are a deductor. It has details of TDS deducted and deposited by you. TDS Returns include details of PAN of the deductor and deductees, particulars of tax paid to the government, TDS challan information and other details as required in the forms.
If you have any questions about TDS Returns or need any help, you can call us on 70276-70277 or write to us info@abstaxasia.com