Saturday, February 20, 2021


 Every person responsible for making payment of nature covered by TDS provisions of Income Tax Act shall be responsible to deduct tax. 

 DDO (Drawing & Disbursing Officer), In case of Govt. Office any officer designated as such.

 Obtain TAN 

 Every deductor is required to obtain a unique identification number called TAN (Tax Deduction Account Number) which is a ten digit alpha numeric number e.g.DELH90468K. 

 This number has to be quoted by the deductor in every correspondence related to Income Tax matters concerning TDS. 

 He/She should obtain PAN of the deductee.  He/She should deduct the tax at correct rate. 

 The tax deducted has to be deposited in the designated banks within specified time. (Govt. deductors shall transfer the tax deducted through book entry in Government account).This is detailed below: 

 By or on behalf of the Government : on the same day

▬ By or on behalf of any other person : before the 7th of the following month. 

 However, if the amount is credited in the books in the month of March then the tax should be remitted by 30thApril. 

 Note: w.e.f., 01.04.2008 electronic payment of tax has to be done by all corporate assesses and all persons whose cases are auditable under section 44B. 

Use challan no. 281 for depositing TDS amount. 

 File statements of tax deduction in the prescribed time. 

 The due dates for filing of TDS/TCS statement are : 

 15th of July for Quarter 1, 

 15th of October for Quarter 2, 

 15th of January for Quarter 3 and 

 15th May for last Quarter

Use correct form to file TDS/TCS Returns. They are: 

 Form 24Q for salaries 

 Form 26Q for non salaries 

 Form 27EQ for TCS 

 Form 27A/27B Control sheet for electronic TDS/TCS 

 It may be noted that the following persons have to compulsorily file e-TDS /e-TCS statements 

 All government offices/Departments 

 All companies /corporations 

 All persons whose cases are auditable 

 All persons whose TDS statements contain more than 50 deductees.