Self Service TDS
Preparation

The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source, and remit the same into the account of the Central Government.

A TDS Return is a quarterly statement, which has to be submitted to the Income Tax Department of India. Submitting TDS Return is mandatory if you are a deductor. It has details of TDS deducted and deposited by you.

For eg., Mr. Kapoor rented an apartment and paying more than Rs. 50,000 per month or Rs. 2,40,000 per year, then he must deduct 5% of the rent and pay the remaining to the landlord. The deducted 5% is the TDS, that he must file under his TDS return.

1. Login through your register ID at EZTax.in TDS
2. In the form provided, select the details from the drop down boxes for Assessment Year, Form Name and Quarter respectively and add the Deductor and authorised person details.
3. Enter Challan details.
4. Enter the Deductee details.
OR
You can download an Excel template, enter the details Offline, and Upload.
5. And verify your return (if you have any errors to clear).
6. Download csi file from Oltas Income Tax website and upload
7. Generate the FVU file.
8. Upload the generated FVU file in Income Tax Portal or with NSDL

1. Automatic calculation and error detection.
2. Fast and Simple eFiling.
3. Excel Import Utility to work offline.
4. Best TDS Software for Tax Consultants, Chartered Accountants, Companies, Individual as they can add unlimited deductors, deductees and file TDS return.
5. No limits in number of Challans, Deductors.
6. Multiple people can work on single return simultaneously to fill a large TDS Return.
7. Generate and Print TDS Certificates in 📜Form 130 of IT Act 2025 (Form 16 of IT Act 1961) / 📜Form 131 of IT Act 2025 (Form 16A of IT Act 1961).
8. Latest FVU Version 9.3 or higher.

1. 📜Form 138 of IT Act 2025 (Form 24Q of IT Act 1961) Statement - for tax deducted at source from salaries.
2. 📜Form 140 of IT Act 2025 (Form 26Q of IT Act 1961) Statement - for tax deducted at source on all payments except salaries.
3. 📜Form 144 of IT Act 2025 (Form 27Q of IT Act 1961) statement - for deduction of tax from interest, dividend, Rental, Capital Gains or any other sum payable to non-residents.
4. 📜Form 143 of IT Act 2025 (Form 27EQ of IT Act 1961) Statement - for the Collection of tax at source (TCS)

The Late fee for the persons who fails to file TDS/TCS returns on or before due date is liable to pay late fee u/s 234E.

1. Late Filing fee u/s 427 (aka u/s 234E) is Rs 200 per day.
2. The Late Filing fee cannot exceed tax deducted at source (TDS) or tax collected at source (TCS).
3. Late Filing fee u/s 427 of IT Act 2025 (u/s 234E of IT Act 1961) is not penalty. It is different from Section 430 of IT Act 2025 (Section 234H of IT Act 1961)

Person fails to file the statement of tax deducted/collect at source i.e. TDS/TCS return on or before the due dates, Minimum penalty can be levied of Rs. 10,000 which can go upto Rs. 1,00,000.
It is guided by Section 430 (aka Section 234H) and it is different from late filing fee u/s 427 (aka u/s 234E).
Penalty can also be levied if the deductor/collector files an incorrect TDS/TCS return.
No penalty will be levied in case of delay in filing the TDS/TCS return if following conditions are satisfied:

1. The tax deducted/collected at source is paid to the credit of the Government.
2. Late filing fees and interest (if any) is paid to the credit of the Government..
3. The TDS/TCS return is filed before the expiry of a period of one year from the due date specified in this behalf.