What a deductor must do?

1Obtain 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.

2He/She should obtain PAN of the deductee.

3He/She should deduct the tax at correct rate.

4The 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 on 31st March then the tax should be remitted by 31st May.

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.

5Use challan no. 281 for depositing TDS amount.

6File 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 June for last Quarter however for TCS statements the due date is 30th April.

7Use 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

Dos & Dont's for filing TDS Returns



 The process of filing of e-TDS /e-TCS returns is available in detail at following websites www.incometaxindia.gov.in or http://tin-nsdl.com.

8. Issue TDS certificates as per existing procedure and within the time prescribed as stated below:

The certificate should be issued within one month from the end of the month in which the income is credited however for credit entries made on 31st March, due date is 7th June,  except in the case of salary where the certificate has to be issued by 30th of April of the following financial year in which the income was credited.

9. File e-TBAF (In case of Govt. DDO's where TDS is credited in Central Govt. account through book adjustments)