Ensure accurate and timely filing of TDS returns with expert assistance from Biz Pillar. We manage calculations, validations, and submissions to help you stay fully compliant.
TDS return filing is the quarterly submission of details relating to tax deducted at source and deposited with the government.
It ensures proper credit to deductees, accurate Form 26AS reflection, and compliance under the Income Tax Act.
Who Should File TDS Returns?
As per the Income Tax Act of 1961, TDS returns must be filed for:
Salary payments
Income on securities
Winnings from lotteries, puzzles, or game shows
Income from horse race winnings
Insurance commission payments (including National Savings Scheme)
Additionally, individuals, groups, HUFs, companies, local authorities, associations, and partnership firms responsible for tax deduction are required to file TDS returns.
Types of TDS Return Forms
TDS return forms are used to report tax deductions made on various payments. Each form is prescribed under the Income Tax Act, 1961 for specific types of transactions and must be filed quarterly.
Important TDS Sections, Thresholds & Rates
An overview of commonly applicable TDS sections, nature of payments, threshold limits, and applicable deduction rates.
Section 192 – Salary Payments
Applicable on salary income exceeding ₹2,50,000, with TDS deducted as per applicable income tax slab rates.
Section 192A – Early EPF Withdrawal
TDS at 10% on EPF withdrawals exceeding ₹50,000 before completion of five years of service.
Section 193 – Interest on Securities
TDS at 10% when interest on securities exceeds ₹10,000 in a financial year.
Section 194 – Dividend Income
TDS at 10% on dividend income exceeding ₹5,000 paid to a resident.
Section 194A – Interest on Deposits
TDS at 10% on bank or post office interest exceeding ₹40,000 (₹50,000 for senior citizens).
Section 194B – Lottery & Game Winnings
TDS at 30% on winnings exceeding ₹10,000 from lotteries, puzzles, or similar games.
Section 194BA – Online Gaming Winnings
Flat TDS at 30% on net winnings from online games, without any threshold limit.
Section 194BB – Horse Race Winnings
TDS at 30% on winnings exceeding ₹10,000 from horse races.
Section 194C – Contractor Payments
TDS at 1% for Individuals/HUF and 2% for others when payments exceed ₹30,000 per bill or ₹1,00,000 annually.
Section 194D – Insurance Commission
TDS at 5% for Individuals/HUF and 10% for others on commission exceeding ₹15,000.
Section 194DA – Life Insurance Maturity Proceeds
TDS at 5% on maturity proceeds exceeding ₹1,00,000, excluding exempt policies.
Section 194H – Commission or Brokerage
TDS at 5% when commission or brokerage exceeds ₹15,000 in a financial year.
Section 194I – Rent Payments
TDS at 10% for rent on land/building and 2% for plant and machinery when annual rent exceeds ₹2,40,000.
Section 194IA – Immovable Property Purchase
TDS at 1% on property value exceeding ₹50,00,000 (excluding agricultural land).
Section 194IB – Rent by Individual/HUF
TDS at 5% on monthly rent exceeding ₹50,000 when not covered under Section 194I.
Section 194J – Professional & Technical Fees
TDS at 10% on professional or technical fees exceeding ₹30,000; royalty for films attracts 2%.
Section 194K – Mutual Fund Income
TDS at 10% on income from mutual fund units exceeding ₹5,000.
Section 194LA – Compensation on Property Acquisition
TDS at 10% when compensation exceeds ₹2,50,000.
Special TDS Provisions
Section 206AA – Non-Availability of PAN
TDS deducted at the higher of applicable rate or 20% when PAN is not furnished.
Section 206AB – Non-Filer of ITR
Higher TDS of 5% or twice the specified rate applies to non-filers of income tax returns.
File Your TDS Returns with Confidence
Let Biz Pillar handle calculations, filing, and compliance so you never miss a deadline or face penalties.
Essential Documents for Registration
Proper documentation ensures smooth registration and avoids rejection or delays by the Registrar of Firms.
Deductor Details
TAN and PAN of the deductor
Business or employer details
Deductee Information
PAN details of deductees
Payment and deduction records
TDS & Payment Records
Challan details (BSR code, CIN)
Quarter-wise TDS payment proofs
Salary / Expense Data
Salary sheets or payment registers
Invoices and payment vouchers
How to Make Corrections in Your TDS Returns
Errors in TDS returns must be corrected promptly through the TRACES portal to avoid penalties and compliance issues.
Steps for TDS Challan Correction (Online via TRACES)
Log in to the TRACES portal using your User ID and password.
Navigate to Defaults → Request for Correction.
Select the Financial Year, Quarter, Form Type, and Token Number of the return to be corrected.
Choose Online Correction as the correction type.
Track the request under Defaults → Track Correction Request using the request number.
Complete KYC verification, select the correction category, make required changes, and submit.
Steps for PAN Correction in TDS Return
Initiate the correction request using the standard TRACES process.
Select Submit Correction Statement → PAN Correction.
Identify invalid PANs using deductee or challan details.
Update valid PAN information and save the changes.
Download the updated consolidated file after submission.
Filing a TDS Correction Statement
Log in to TRACES and download the Consolidated TDS File.
Make required corrections in the file.
Enter the Provisional Receipt Number.
Validate the file using the File Validation Utility (FVU).
Upload the validated file on TIN-FC or the NSDL portal.
Offline / Bank-Level Challan Correction (If Applicable)
Obtain the challan correction form from the bank.
Submit one correction request per challan.
Attach a copy of the original challan with the request.
Carry PAN card for corrections in Challan 280, 282, or 283.
Submit the correction letter to the Assessing Officer.
For online payments, attach the original authorisation letter with seal (for non-individual taxpayers).
Penalty for Failure in Filing TDS Returns
Delays or errors in TDS filings attract mandatory penalties under the Income Tax Act.
Late Filing Fee (Section 234E)
₹200 per day until the return is filed, subject to the TDS amount.
Non-Filing or Incorrect Filing Penalty
₹10,000 to ₹1,00,000 if the return is not filed within one year or contains serious inaccuracies.
