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TDS Returns TDS Refunds

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TDS Returns TDS Refunds

At Superfast Corporate Consultancy Pvt Ltd, we specialize in providing seamless TDS (Tax Deducted at Source) compliance services, ensuring that businesses and individuals adhere to tax regulations without any hassle. Our expert team assists with TDS Return Filing, TDS Refunds, and Compliance Advisory to help you avoid penalties and maximize refunds.

TDS Returns

  • Mandatory Filing

    Entities deducting TDS must file TDS returns quarterly with the Income Tax Department.

  • Forms Used

    Different forms are used based on the type of payment (e.g., Form 24Q for salaries, Form 26Q for non-salaries, and Form 27Q for non-resident payments).

  • Due Dates

    TDS returns must be filed quarterly by the specified due dates (e.g., 31st July, 31st October, 31st January, 31st May).

  • Details Required

    Includes deductor’s details, PAN of deductees, TDS deducted and deposited, and payment details.

  • Correction Facility

    If errors occur in the TDS return, they can be rectified by filing a revised return.

  • Penalty for Non-Filing

    Late or incorrect filing of TDS returns can attract penalties under Section 234E and 271H of the Income Tax Act.

TDS Refunds

  • Eligibility

    A refund arises when excess TDS is deducted compared to the actual tax liability.

  • Claim Process

    Taxpayers can claim a refund while filing their Income Tax Return (ITR).

  • Refund Timeline

    Once processed by the Income Tax Department, the refund is credited to the taxpayer’s bank account.

  • Interest on Refund

    If the refund is delayed, interest is paid under Section 244A of the Income Tax Act.

  • TDS Mismatch Issues

    Any discrepancy in TDS credits (as per Form 26AS) can delay the refund process.

  • Tracking Refund

    Taxpayers can track their TDS refund status through the Income Tax e-filing portal or NSDL.

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