TDS (Tax Deducted at Source) is a method of collecting income tax at the source of income. Every business that makes specified payments must deduct TDS and file quarterly returns. This guide covers everything about TDS return filing in Bengaluru.
What is TDS?
TDS is a system where the payer deducts tax at source while making certain payments like salary, rent, professional fees, contract payments, etc. The deducted amount is deposited with the government and the deductee can claim credit while filing income tax return.
Who Should Deduct TDS?
- Companies (Private Limited, Public Limited)
- Partnership firms and LLPs
- Individuals/HUFs liable for tax audit
- Government departments
- Any person making specified payments above threshold
TDS Return Forms
| Form | Purpose | Applicable To |
|---|---|---|
| Form 24Q | TDS on salary | All employers |
| Form 26Q | TDS on non-salary payments | All deductors (except salary) |
| Form 27Q | TDS on payments to NRIs | Payments to non-residents |
| Form 27EQ | TCS (Tax Collected at Source) | Sellers of specified goods |
TDS Return Due Dates 2025
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | April - June 2025 | 31st July 2025 |
| Q2 | July - September 2025 | 31st October 2025 |
| Q3 | October - December 2025 | 31st January 2026 |
| Q4 | January - March 2026 | 31st May 2026 |
TDS Payment Due Dates
- Government deductors: Same day of deduction
- Other deductors: 7th of the following month
- March deductions: 30th April
Common TDS Rates (FY 2024-25)
| Section | Nature of Payment | TDS Rate |
|---|---|---|
| 192 | Salary | As per slab rates |
| 194A | Interest (other than securities) | 10% |
| 194C | Contractor payments | 1% (Individual/HUF) / 2% (Others) |
| 194H | Commission/Brokerage | 5% |
| 194I | Rent | 2% (Plant) / 10% (Land/Building) |
| 194J | Professional/Technical fees | 10% |
| 194Q | Purchase of goods | 0.1% |
Penalty for Late TDS Filing
- Late filing fee (234E): ₹200 per day until filing (max: TDS amount)
- Penalty (271H): ₹10,000 to ₹1,00,000
- Interest on late payment: 1.5% per month
- Interest on late deduction: 1% per month
Documents Required for TDS Return Filing
- TAN (Tax Deduction Account Number)
- PAN of all deductees
- Challan details of TDS deposited
- Details of payments made and TDS deducted
- Form 16/16A details
Need Help with TDS Return Filing?
Balu Associates provides complete TDS return filing services for businesses in Bengaluru. We handle Form 24Q, 26Q, 27Q, and ensure timely compliance.
Get TDS Filing Help Call +91 9535725179TDS Services by Balu Associates
- ✅ Quarterly TDS return filing - All forms
- ✅ TDS calculation and deduction
- ✅ Form 16/16A generation
- ✅ TDS reconciliation with Form 26AS
- ✅ TDS correction returns
- ✅ Lower TDS certificate application