#Filing of tds return

[techalertr]

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[gblnews]

ITR filing FY 2023-24: Why is Form 16 important for salaried individuals when filing income tax return? - Times of India

Income Tax Return Filing FY 2023-24: Form 16 is an important document when it comes to filing the income tax return. It is a TDS certificate issued by employers to their employees, which contains details of salary income paid, the tax regime chosen by the employee for TDS on salary, total tax deducted and deposited against salary income during the financial year, and eligible deductions claimed…

[taxbhai]

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[legalpillers24]

Simplifying Your TDS Compliance: Important Deadlines for FY 2024-25

As we navigate through the financial year 2024–25, timely compliance with Tax Deducted at Source (TDS) return filing has become essential for the businesses as well as individuals. If you stay updated with the due dates of TDS Return Filing, you can make sure about the smooth operations and avoids unnecessary penalties & fines. Here, in this article we will provide you a comprehensive guide to the important deadlines. Don’t forget to mark these dates in the calendar.

Important Deadlines for TDS Return Filing of FY 2024–25

For Quarter 1 which is April 2024 to June 2024, the due date will be July 31, 2024.

For Quarter 2 which is July 2024 to September 2024, the due date will be October 31, 2024.

For Quarter 3 which is October 2024 to December 2024, the due date will be January 31, 2025.

For Quarter 4 which is January 2024 to March 2024, the due date will be May 31, 2025.

Why Timely TDS Return Filing is Important?

Avoid Penalties: If you don’t file the TD Return on time, then it will attract a late fee of Rs. 200/- under section 234E of the Income Tax Act until the return has been filed. The maximum penalty can go up to the total amount of TDS.

Ensure Compliance: If you stay compliant with the due dates, you can make sure about maintaining a clean financial record. It is essential for audits and future financial planning.

Smooth Processing: If you file TDS return on time, you can make sure that there are no delays in processing returns and refunds as it can impact the cash flow.

Some Tips for Filing TDS Return on Time

Set Reminders: You can use the digital calendars and reminders, so that you can keep track of due dates.

Consult Professionals: If you take the regular consultation with the expert tax professionals, you can get the clarity and can also make sure about the compliance with all regulations.

Organize Records: It would be best to maintain a systematic record of all TDS transactions and relevant documents.

Conclusion

If you stay updates about the TDS Return Filing Due Date for FY 2024–25, it not just keeps your compliant but also helps in smooth financial management of your business. It is advisable to you to mark these dates in your calendars, stay organized, and also make sure that your TDS returns are filed timely to avoid any last-minute rush or penalties.

Timely action today can save you from the unnecessary hassles tomorrow!

[eazybillssoftware]

A comprehensive guide to Form 16A: A TDS Certificate

Form 16A is a TDS certificate that is issued by the deductor on a quarterly basis. It is a statement concerning the nature of payments, the amount of TDS, and the deposited TDS payments to the Income Tax department. It also consists of brokerage, interest, professional fees, contractual payments, rent, and other sources of income. 

Unlike Form 16, which only consist salary structure, Form 16A of income tax charge TDS from:

Receipts from business or profession fees. 

Rental receipts from a property or rent. 

Sale proceeds from capital assets. 

Additional source.

Important components of Form 16A 

The important components of Form 16A are: 

Details of the Employer: It contains the name, TAN, and PAN of the employer. 

Details of Employee: It contains the name, TAN, and PAN of the employee. 

Mode of Payment: Both offline and online modes of payment are available. 

Receipt number of TDS: The receipt number of TDS helps in the tracking of back details.

The date and deposit tax amount with the income tax department help track information. 

Significance of Form 16A 

Form 16A plays a pivotal role while filing an income tax return, especially when someone has other sources of income apart from their salary. Here are the key benefits of Form 16A:

Filing of income tax returns: The details contained in Form 16A help employees file their income tax returns. It guides employees in reporting their total income, which includes salary and other sources. 

Tracking of TDS: It helps every individual keep track of the tax deducted at source (TDS) on their income. It gives you a summary of TDS deducted at source. 

Income Proof: Form 16A works as evidence of an individual's total earnings from other sources. Government agencies and financial institutions, like banks, easily accept this source as income proof. 

Loan Applications: This form is important in verifying the loan applications. Financial institutions often need a record of the assets and liabilities of an individual to check the guarantee on loan repayment. 

How to download Form 16A?

Below are the following steps to download Form 16A:

Visit the official website of the income tax department. 

Complete the registration process on the website. 

Click the "Download" tab, and then select Form 16A. 

Fill in the PAN details, and then click “Go to continue.”. 

Click submit and download Form 16A. 

What is the difference between Form 16 and Form 16A?

Form 16 and Form 16A are both TDS certificates, but there are certain differences between them. The following are the differences between Form 16 and Form 16A:

Form 16 is a TDS certificate deducted from salary, whereas Form 16A is issued for income other than salary. 

Form 16 is issued by the employer, whereas Form 16A is issued by financial institutions. 

Form 16 is used for deducting tax from salary, whereas Form 16A is for removing taxes from another source of income apart from salary. 

Final Thoughts  

Paying taxes is the responsibility of the citizens of the nation. It is evident that the process of filing an income tax return and Form 16A is restless and troublesome. Some technical terms of income tax are not known to the new taxpayer. Worry not, because Eazybills will solve every tax-related problem and also offer TDS tracking. 

So? What are you waiting for? Connect to us today through our website, where our professional team will guide you according to your requirements.

[kdk-software]

Simplify TDS compliance with ExpressTDS. Our cloud-based TDS return filing software offers automated calculations, easy form generation, and secure data storage. Stay updated with the latest TDS rules and regulations. Try ExpressTDS today!

[mystartupsolution]

TDS Refund Services Provider in Lucknow

Do you need professional help with refunds for TDS Refund Services Provider in Lucknow. There is no other place to search! At My Startup Solution, we want to make sure you receive your money back. We are your trustworthy resource in Lucknow for TDS refund assistance. Our team of skilled financial advisors is ready to streamline the process and maximize your reimbursement.

What is TDS?

TDS stands for Tax Deducted at Source. This type of taxation involves deducting income tax before it is received from a number of sources, the best TDS refund process in Lucknow such as commission, rent, interest, and compensation. Subsequently, the tax that was deducted is submitted with the authorities.

Why Choose My Startup Solution

Experienced Team: Our team consists of seasoned tax professionals who are well-versed in TDS regulations and refund processes. With their in-depth knowledge, we can guide you through every step of the refund process.

Personalized Approach: We understand that each case is unique. That's why we offer a personalized approach to ensure you receive the maximum refund based on your specific circumstances.

Efficient Process: Our streamlined approach minimizes the time and effort required for you to receive your refund. We handle all the paperwork and formalities, ensuring a hassle-free experience.

Transparent Fees: We believe in transparency. Our fees are competitive and clearly communicated upfront. You can trust us to deliver quality service without hidden charges.

Customer-Centric Service: Your satisfaction is our top priority. We provide clear communication, regular updates, and timely responses to your queries, ensuring you feel supported throughout the process.

Our TDS Refund Services:

Assessment of TDS: Our experts will assess your TDS deductions and compare them with your actual tax liability. This allows us to determine if you are eligible for a refund.

Documentation Assistance: We help you gather all the necessary documents, including Form 16, Form 26AS, and other income-related documents, to file your refund claim accurately.

Filing the Refund Claim: Our team will prepare and file the refund claim on your behalf, ensuring compliance with all tax regulations and deadlines.

Follow-up with Authorities: We take care of the follow-up process with the Income Tax Department, keeping track of the progress of your refund claim and addressing any queries or concerns.

Refund Tracking: We provide you with updates on the status of your refund, keeping you informed until you receive your money back.

Benefits of TDS Refund Services:

Maximize Your Refund: Our experts ensure you get the maximum refund you are entitled to.

Save Time and Effort: We handle the entire process, saving you time and the hassle of dealing with paperwork and tax authorities.

Compliance and Accuracy: Our professionals ensure that your refund claim is filed accurately and in compliance with tax laws.

Peace of Mind: With us managing your TDS refund, you can focus on other important aspects of your life without worrying about tax issues.

How to Get Started:

Getting started with My Startup Solution is easy. Follow these simple steps:

Contact Us: Reach out to us via phone, email, or our website to schedule a consultation.

Provide Necessary Documents: Gather your income-related documents such as Form 16 and Form 26AS and share them with us.

Let Us Handle the Process: Sit back and relax while our experts take care of the entire refund process.

Receive Your Refund: Once your refund claim is processed, you will receive your refund directly in your bank account.

Conclusion:

At My Startup Solution, we take pride in being the leading TDS refund service provider in Lucknow. Our dedicated team of professionals is committed to delivering exceptional service and ensuring you get your refund swiftly and efficiently. Don't let your money stay locked up—contact us today and let us help you claim what's rightfully yours!

Visit Now: www.mystartupsolution.inContact us for more details: +91 8795224400

[coporategenie]

TDS, also known as tax deducted at source return, contains details of tax deducted from the payments made to employees, contractors, etc. We have discussed steps to be followed for filing online TDS return.

[gblnews]

Form 26 AS: Filing Income Tax Return? Know why Form 26AS is important & how to download it - Times of India

What is Form 26 AS in income tax return filing? Form 26AS is an important document when it comes to filing Income Tax Return (ITR), as it not only contains the amounts and dates of taxes paid in advance but also includes all financial activities of a taxpayer. However, Form 26AS is effective only for the financial year 2005-06 onwards. Form 26AS Explained Form 26AS is divided into three parts:…

[ebizfilingindia-blog]

TDS Return is mandatory to be filed by the liable person to deduct tax at source. It is the quarterly report that must be submitted to the income tax department. If you are a deductor, submitting the TDS return is compulsory. It should include the required details of the TDS deducted and deposited by you for that specific quarter.

[legalpillers24]

(via TDS Return Filing Due Date for FY 2024-25 - Legal Pillers)

[eazybahi]

Tax Deducted at Source (TDS) is a mechanism under Direct tax regime to check tax evasion by collecting tax at the source point. It relieves the tax payer from the burden of paying a huge lump sum amount of tax at the end of the year. It also ensures continuous inflow of tax collections to the government funds throughout the year.

A person liable to deduct tax is termed as the “Deductor” and the person from whose account tax is being deducted is termed as the “Deductee”.

File your TDS return on time and avoid paying late fees and interest. Tax Deducted at Source is a mechanism under Direct tax regime to check tax evasion by collecting tax at the source point.