1. What is e-TDS Return?
e-TDS return is a TDS return prepared in form No.24,26 or 27 in electronic media as per prescribed data structure in either a floppy or a CD ROM. The floppy or CD ROM prepared should be accompanied by a signed verification in Form No.27A.
2. Who is required to file e-TDS return?
As per Section 206 of Income Tax Act all corporate and government deductors are compulsorily required to file their TDS return on electronic media (i.e. e-TDS returns). However, for other Deductors, filing of e-TDS return is optional.
3. Under what provision the e-TDS return should be filed?
An e-TDS return should be filed under Section 206 of the Income Tax Act in accordance with the scheme dated 26.8.03 for electronic filing of TDS return notified by the CBDT for this purpose. CBDT Circular No.8 dated 19.9.03 may also be referred.
4. What are the forms to be used for filing annual/quarterly TDS/TCS returns?
Following are the returns for TDS and TCS and their periodicity:
Form No
|
Particulars
|
Periodicity
|
Form 24
|
Annual return of "Salaries" under Section 206 of Income Tax Act, 1961
|
Annual
|
Form 26
|
Annual
return of deduction of tax under section 206 of Income Tax Act, 1961
in respect of all payments other than "Salaries"
|
Annual
|
Form 27
|
Statement of deduction of tax from interest, dividend or any other sum payable to certain persons
|
Quarterly
|
Form 27E
|
Annual return of collection of tax under section 206C of Income Tax Act, 1961
|
Annual
|
Form 24Q
|
Quarterly statement for tax deducted at source from "Salaries"
|
Quarterly
|
Form 26Q
|
Quarterly statement of tax deducted at source in respect of all payments other than "Salaries"
|
Quarterly
|
Form 27Q
|
Quarterly statement of deduction of tax from interest, dividend or any other sum payable to non-residents
|
Quarterly
|
Form 27EQ
|
Quarterly statement of collection of tax at source
|
5. Payments are made to employees and contractors. In such a case, TDS return is required to be submitted in a single Form or separate form is required for employees & contractors.
For tax deducted at source from salary paid to employees, the annual return for tax deducted at source up to financial year 2004-2005 is to be filed in Form 24 and from financial year 2005-2006 onwards, the quarterly returns are to be filed in Form 24Q. Similarly, in case of payments mad to contractors, Form 26 will have to be filed for deduction made up to financial year 2004-2005 and Form 26Q on a quarterly basis for deductions made from financial year 2005-2006 onwards.
6. Who is the e-Filing Administrator?
The CBDT has appointed the Director General of Income-tax(Systems) as e- Filing Administrator for the purpose of the Electronic Filing of Returns of Tax Deducted at Source Scheme,2003.
7. Who is an e-TDS Intermediary?
CBDT has appointed National Securities Depository Ltd., Mumbai as e-TDS Intermediary.
8. How will the e-TDS returns be prepared?
e-TDS return has to be prepared in the data format issued by e-Filing Administrator. This is available on the websites of Income-tax Department at i.e. www.incometaxindia.gov.in and of NSDL at www.tin-nsdl.com. There is a validation software available along with the data structure which should be used to validate the data structure of the e-TDS return prepared. The e TDS return should have following features:
- Each e-TDS return file (Form 24, 26 or 27) should be in a separate CD/floppy.
- Each e-TDS return file should be accompanied by a duly filled and signed (by an authorised signatory) Form 27A in physical form.
- Each e-TDS return file should be in one CD/floppy. It should not span across multiple floppies.
- In case the size of an e-TDS return file exceeds the capacity of one floppy, it should be furnished on a CD.
- In case the e-TDS return file is in a compressed form at, it should be compressed using Winzip 8.1 or ZipItFast 3.0 compression utility only to ensure quick and smooth acceptance of the file.
- Label should be affixed on each CD/floppy mentioning name of the deductor, his TAN, Form no. (24, 26 or 27) and period to which the return pertains.
- There should be not any overwriting / striking on Form 27A. If there is any, then the same should be ratified by an authorised signatory.
- No bank challan, copy of TDS certificate should be furnished alongwith e-TDS return file.
- In case of Form 26 and 27, deductor need not furnish physical copies of certificates of no deduction or lower deduction of TDS received from deductees.
- In case of Form 24 deductor should furnish physical copies of certificates of 'no deduction or deduction of TDS at lower rate', if any, received from deductees.
- e-TDS return file should contain TAN of the deductor without which the return will not be accepted.
- CD/floppy should be virus free.
- In case any of these requirements are not met the e-TDS return will not be accepted at TIN- FCs.
No separate CD/floppy should be used for each return.
10. Where can the e-TDS return be filed?
e-TDS returns can be filed at any of the TIN-FC opened by the e-TDS Intermediary for this purpose. Addresses of these TIN-FCs are available at the website on www.incometaxindia.gov.in or at www.tin-nsdl.com.
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eTDS Return (Click Here)
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