Tax Return Filing

Tax deducted at source is a term where the payer deducts a certain portion of the amount as a tax of the receiver and deposits the same with the government.

TDS which is deducted is usually deposited to the government along with the required payment.

You need to file a TDS return even you have deposited the tax as a deductor.

It is a quarterly statement that has to be submitted to the income tax department. TDS return submission is a mandatory one if you are a deductor. It contains the details like TDS deducted and deposited by you. TDS return contains the details of PAN of the deductor and deductee, TDS challan information, tax particulars which are paid to the government and other relevant details required in the forms.

How much is deducted is purely dependent upon the nature of payment? The rates for various payments have been notified in the income tax act and rules. There are different rates applicable for resident and non-resident taxpayers.

When you file the TDS returns you can obtain the TDS refunds. Payments can be in the nature of professional services, salaries, contractual fees etc.