TDS i.e. Tax Deducted at Source, is the tax that has been deducted by the Government of India at the time of payments of some specific transactions. TDS Return is the quarterly statement or summary of all the transactions related to the TDS made in the specific quarter. It includes the details of TDS that has been collected & deposited to the Income Tax Department by the deductor. TDS Return filing online of every quarter is compulsory for the employers and organizations with a valid TAN. E- filing of TDS Return can be done on website of ‘Traces’.
TDS Return due date
The e- TDS filing due date for every quarter is as given below-
Quarter
Period of TDS Return filing
Due Date
1st
1st April to 30th June
31st July
2nd
1st July to 30th September
31st October
3rd
1st October to 31st October
31st January
4th
1st January to 31st March
31st May
The TDS Return due date of period 1st October 2023 to 31st December 2023 will be 31st January 2024.
Process of TDS Return filing online
The steps of e- filing of TDS Return on traces are as follow-
Step1: Firstly, you have to register your TAN number on traces but it’s not possible until you have not filed a TDS Return (other than NIL Return).Step2: Then you have to download the utility from TIN-NSDL where 2 utilities are available for TDS Return preparation, which are RPU (Return Preparation Utility) for preparing TDS Return and the other FVU (File Validation Utility) for proving that data is incorporated in RPU by matching the details with CSI file.Step3: CSI File, or CIN File is a challan status inquiry file required for proving the data which can downloaded by the online portal.Step4: After downloading utilities, you have to open RPU>>choose correct form number>>regular>>continue.Step5: Then you have to fill all the required & correct details.Step6: After that, you have to have your file and then click on Create File. In the first dialog box you have to select your downloaded CSI File.Step7: In the next box you have to select the folder where all the files will be saved after generating. Then click on Validate.Step8: Then open FUV after which, in first dialog box select the file with “.txt” extension that has been generated previously. In the second box, select CSI file and in third box, select the folder where generated files will be saved. Then, click on validate.Among generated files there will be an error file in case of any mistake.Covert the file with the “.fvu” extension in to zip file.Step9: Log into e- filing with the registered TAN number for which you are preparing the return. Then, click on TDS & upload. After that, fill the details and upload the Zip file & signature file and at last submit the return.You have to correct the error that has been found in validation in step 8 and create the file again and validate it.Step10: After 2-3 days you can check the e-TDS Return status on the traces.
Conclusion
As, it is very important to control the tax deductions for doing the proper financial management. Understanding the process of e-filing of TDS Return is a great move to maintain the financial accuracy. Choose LegalPillers as your trusted partner to simplify the complexities of TDS Return filing online through the portal of traces.
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