TDS Return Filling

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Tax Deduction Source is a full form of TDS which is a mean of collecting income tax in India. This tax deduction process is held under the Income Tax Act of 1961. If your TDS is deducted, you are liable to fill and file TDS Return online. It is a mandatory file your TDS Return timely. If you become a regular defaulter you might even be liable to pay a penalty for not submitting the e-TDS Return in due time. You need to file your e-TDS return quarterly if you are one of them. 

 

In case a person fails to pay the TDS on time he will be liable to pay the penalty on the tax. The penalty should exceed the total amount of tax deduction.