India’s leading online cloud based e-TDS solution with no software downloads, file your client’s or business’ TDS returns and generate Form-16s online
Find and use all unconsumed challans from the past 2 years
Auto-import any file for previous TDS returns
Prepare regular & correction e-TDS statements online
Allow multiple CAs to work on same deductor at same time
Find all deductor information in the same dashboard
Online FVU generation and submission at one place
Bulk PAN verification for all deductee in a deductor's TDS
Early warning system
Detects potential TDS notices that may come from TRACES
Single click Form 16s
Prepare, merge and email Form 16 A, B & Form16A
File e-TDS for individuals and businesses.
Detect and use all unconsumed challans from the past 2 years. Compatible with TDS returns of previous financial years. Never get a notice again. Save money. Save time.
Get more clients processed at the same time. Allow team to work on same client in parallel. Assign multiple clients to single team member.
The challan validation feature is very good, it helped me identify issues with my challans. And I did not get any notices from TIN since I started using ClearTDS.
Sharma and Associates
I was paying ₹1,000 to my tax counseller every month for generating TDS returns for my small business. With ClearTDS, I'm now able to do this on my own.
Euro Kids Franchisee
Consume all TDS challans, never get a tax notice again.
TDS(Tax Deducted at Source) is the tax withheld by the payer before making a payment to the payee when a transaction occurs.
For example, your employer (Payer) deducts a portion as tax (TDS) from your salary before paying you (Payee).
The amount deducted is then deposited with the government on your behalf. This TDS will be offset with your final tax liability. Therefore, people cannot evade taxes as the government knows their income and financial transactions, and the tax they owe is accounted for.
In addition to remitting the tax, the deductor is also responsible for filing the TDS return with the Income Tax (IT) department.
TDS return is a quarterly statement that provides an overview of all TDS-related transactions made within that quarter. Generally, it includes information about the TDS amounts collected and deposited with the IT department.
These details are provided in a TDS return:
After the TDS returns have been successfully filed, the information becomes visible on Form 26AS.
Here's how to file your TDS return online in a simple, step-by-step manner:
To ensure a smooth TDS return filing process, make sure you understand the requirements for uploading TDS returns.
According to the Income Tax Act, anyone who deducts or collects TDS or TCS must file their TDS or TCS return. If you're one of the following and have deducted TDS from payments, you must file a TDS return every quarter:
You must submit your TDS or TCS return on time as per the specified due dates. Failing to file the return on time may result in a penalty.
|Form No||Transactions reported in the return|
|Form 24Q||Quarterly statement for TDS deducted on salary|
|Form 26Q||Quarterly statement for TDS deducted on payments other than salary|
|Form 27Q||Quarterly statement for TDS deducted on payments to non-residents|
|Form 26QB||Challan cum TDS return for reporting TDS on sale of property|
|Form 26QC||Challan cum TDS return for reporting TDS on rent|
|Form 27EQ||TCS Return|
The TDS return filing due dates for the financial year 2023-24 are:
|Q1- 1st April to 30th June||31st July 2023
(Form 26Q and Form 27Q due date was extended to 30th September 2023)
|Q2- 1st July to 30th September||31st October 2023|
|Q3- 1st October to 31st December||31st January 2024|
|Q4- 1st January to 31st March||31st May 2024|
Late filing: As per Section 234E, if you don't file your TDS/TCS return within the due date, you may have to pay a late filing fee of Rs. 200 for each day till you file the return, but this amount can't be more than the total TDS amount.
Delayed or Incorrect filing: If you don't file your TDS or TCS return on time, you may face a penalty under section 271H. The penalty can range from Rs. 10,000 to Rs. 1,00,000. This penalty is in addition to any late filing fees.
The penalty can also apply if you file an incorrect TDS/TCS return. However, if you can prove that you've paid the taxes, late filing fees, and interest (if any) to the government and filed the return within one year from the due date, you won't be penalised for delayed filing. This rule applies only to late filing penalties, not to penalties for filing incorrect statements.
In certain cases, you can seek relief from this penalty under section 273A(4) if specific conditions are met. Additionally, section 273B provides immunity from the penalty if you can demonstrate that there was a reasonable cause for the failure.
TDS is deducted on the payment amount as per the rate specified in the Income Tax Act
If you do not file TDS return, you’ll be liable to pay late fees as per Section 234E and a penalty under Section 271H (Discussed earlier).
TDS Certificate is a certificate which is issued by the person who deducts TDS (deductor) to the deductee. Whenever TDS is deducted, the deductee must demand the TDS certificate which mentions the amount of TDS deducted from your payment.
The deductor can generate this certificate from TRACES after filing the TDS return. There are two types of TDS certificate:
|Q1- 1st April to 30th June||15th August|
|Q2- 1st July to 30th September||15th November|
|Q3- 1st October to 31st December||15th February|
|Q4- 1st January to 31st March||15th June|
Before uploading TDS returns, note these TDS return requirements:
Cleartax offers India’s most comprehensive e-TDS solution- ClearTDS.
ClearTDS, is recognised as India's Leading Financial TDS Software. There are several compelling reasons why you should choose ClearTDS:
ClearTDS by Cleartax is a comprehensive solution that not only simplifies TDS compliance but also enhances accuracy and efficiency, making it the top choice for managing your TDS requirements.
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