What is the deadline for TDS return filing?
TDS returns are filed quarterly. The deadlines are: Q1 (July 31), Q2 (October 31), Q3 (January 31), and Q4 (May 31).
What is the difference between TDS and TCS?
TDS is tax deducted by the payer, while TCS is tax collected by the seller. Both are methods of tax collection at source.
What are the penalties for late filing?
Late filing can attract penalties of ₹200 per day and additional interest. Timely filing helps avoid these charges.
Do I need to file a nil TDS return?
Yes, even if no tax was deducted in a quarter, a nil return is required if a TAN is active to remain compliant.