Faqs on etds and etcs returns

Simran (Student) (1165 Points)

16 January 2013

1. What is e-TDS Return?

e-TDS return is a TDS return prepared in form No.24,26 or 27 in electronic media as per prescribed data structure in either a floppy or a CD ROM. The floppy or CD ROM prepared should be accompanied by a signed verification in Form No.27A.

2. Who is required to file e-TDS return?

As per Section 206 of Income Tax Act all corporate and government deductors are compulsorily required to file their TDS return on electronic media (i.e. e-TDS returns). However, for other Deductors, filing of e-TDS return is optional.

3. Under what provision the e-TDS return should be filed?

An e-TDS return should be filed under Section 206 of the Income Tax Act in accordance with the scheme dated 26.8.03 for electronic filing of TDS return notified by the CBDT for this purpose. CBDT Circular No.8 dated 19.9.03 may also be referred.

4. What are the forms to be used for filing annual/quarterly TDS/TCS returns?

Following are the returns for TDS and TCS and their periodicity:

Form No	Particulars	Periodicity
Form 24	Annual return of "Salaries" under Section 206 of Income Tax Act, 1961	Annual
Form 26	Annual return of deduction of tax under section 206 of Income Tax Act, 1961 in respect of all payments other than "Salaries"	Annual
Form 27	Statement of deduction of tax from interest, dividend or any other sum payable to certain persons	Quarterly
Form 27E	Annual return of collection of tax under section 206C of Income Tax Act, 1961	Annual
Form 24Q	Quarterly statement for tax deducted at source from "Salaries"	Quarterly
Form 26Q	Quarterly statement of tax deducted at source in respect of all payments other than "Salaries"	Quarterly
Form 27Q	Quarterly statement of deduction of tax from interest, dividend or any other sum payable to non-residents	Quarterly
Form 27EQ	Quarterly statement of collection of tax at source

5. How can the TDS and TCS returns be filed?

There are a number of softwares available to file eTDS and eTCS returns among which TDSMAN has been rated no.1 as per NSDL data as acceptance of Correction Returns.

TDSMAN is the complete eTDS & eTCS return filing software exclusively designed as per system specified by the NSDL in line with the requirements of the Income Tax Department, Govt. of India. The software enables eTDS & eTCS return generation of all types of Forms - 24Q, 26Q, 27Q, 27EQ. It also prints all the TDS, TCS certificates - Form 16, 16A, 27D.

TDSMAN is capable of handling large volumes of data spread over multiple assessees. Its usability is ideally fabricated to suit all types of assessees including corporates, banking and insurance companies, government bodies and above all the SMEs & individuals.

The software with its robustness, convenience and speed is being extensively used by CAs, Tax Consultants, TIN-FCs and other professionals for processing of eTDS & eTCS data for their clients.

To download the free trial of TDSMAN software, click here

6. What are the due dates for filing quarterly TDS Returns?

The due dates for filing quarterly TDS returns, both electronic and paper are as under:

Quarter	Due Date	Due Date for 27 Q
April to June	July 15	14 July
July to September	October 15	14 October
October to December	January 15	14 January
January to March	June 15	14 June