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TDS Return Filing

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TDS return filing for one quarter.
TDS return filing for two quarters.
TDS return filing for four quarter.

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TDS Return Filing In Madhya Pradesh

The Tax Deducted at the source is the tax that is collected by the government at the time when a transaction is taking place. Hence, the TDS is deducted at the time when the money is credited to the payee’s account or at the time of the payment whichever event occurs earlier.

Who is eligible for TDS return filing in Madhya Pradesh?

TDS Return filing in Madhya Pradesh is done by Organizations or employers who have a Tax collection and deduction number (TAN). Hence, the individual making payments under the Income Tax Act is required to deduct the TDS.The TDS is to be deposited within a specified time for the payment. The people earning income from the following sources are eligible for TDS filing in Madhya Pradesh.

  • Salary payment
  • Income on securities
  • Income from winning lotteries
  • Income from puzzles and others
  • Income from winning horse races
  • Insurance commission
  • The payment that is concerning the National Saving Scheme and many others.

Due to filing TDS return filing in Madhya Pradesh

Quarter Period The due date for Filing Form 27Q
Q1 1st April - 30th June On or before 31st July
Q2 1st July - 30th September On or before 31st October
Q3 1st October - 31st December On or before 31st January
Q4 1st January - 31st March On or before 31st May

TDS Return Form

TDS return filing in Madhya Pradesh is done depending on the income of the deductee or the type of deductee who pays the TDS.

TDS Form 24 Q - An employer has to file a TDS return Form 24Q which has to be submitted every quarter. The details of the salary paid to the employees and the deducted TDS from the payment have to be specified in Form 24Q. It is the quarterly statement of the payment to the employees and the TDS deducted that is deducted from the salary by the deductor.

TDS Form 26 Q-When the taxpayer pays the taxes, then the payee deducts the TDS on certain occasions. TDS Return filing is made in Form 26 Q is used to file the TDS details on the payments made other than salary. This Form mentions the total amount that is paid during the quarter and the TDS amount that is deducted. Form 26Q needs to be submitted every year.

TDS Form 27 EQ - This Form includes the details about tax that is collected at the source. This Form has to be filed every quarter. The Form has to be submitted by both the corporate and the government collectors and deductors.

FAQ's

TDS return filing in Madhya Pradesh can be done by employers and organizations that have a valid TAN. An individual making specified payments is required to file TDS returns for the following payments:
  • Salary payment
  • Income on securities
  • Income from winning lottery, puzzles, and others
  • Income from winning horses
  • Insurance commission
  • Payment in respect of any national saving scheme.
The following documents are required for TDS return filing in Madhya Pradesh:
  • PAN of the deductor as well as the deductee
  • Amount of the tax paid to the government
  • TDS challan information.
Nil TDS returns in Madhya Pradesh are to be mandatorily filled by the deductor in case if he has not deducted any TDS on the payment of the amount.
There is a late fee of Rs. 200 for each day of late filing, this 200 is not a penalty but just a late fee for delay in TDS return filing in Madhya Pradesh.