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Income Tax Return Filing

Directly fill out any Tax Returns like

Income from salary
Income from house property
Income from profits and gain of business or profession
Income from capital gains
Income from other sources

Documents required for ITR Filing:

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ITR Filing

PAN card

Aadhaar card

Previous year Balance sheet / Audit report (if any)

Bank statements / Bank passbook

Any Income / Deduction doucments (if any)

Previous year return (if any)

If you are:

Salaried

Form - 16

Business/Profession:

Tally data / Audit report / Balance sheet

GST Returns (if any)

TDS Returns (if any)

Tax Deposit challan (if any)

Additionally:

If Partnership:

Partnership deed / Reconstruction deed / Dissolution deed

Partners PAN card & Aadhaar Card

If Company & LLP:

Incorporation Certificate

MOA

AOA

TDS Return Filing

What is TDS Return?

TDS return can be best described as the quarterly statement or summary of all TDS-related transactions made during the specific quarter. Typically, it comprises details of the TDS collected and deposited to the Income Tax Authority by the deductor. The essential details disclosed in a TDS return statement include the following –

Deductor and deductee's PAN.
Particulars of TDS paid
Challan details

Who is Eligible for TDS Return?

Employers and organisations with a valid TAN are qualified for filing TDS returns. Individuals whose accounts are audited under Section 44AB, and hold an office under the government or companies are liable to file online TDS returns every quarter.

It means that the deductor can be – an individual, group of individuals, HUFs, limited companies, local authorities, an association of individuals, partnership firms, etc.

As per ITA, TDS is filed against these following pay-outs -

Salary income
Income on securities
Insurance commission
Pay-outs towards NSC
Earnings generated on winning horse race
Earnings generated on winning a lottery, puzzles, etc.

Rates of TDS

Rates for tax deduction at source

PAN / TAN

About PAN

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department,

Document Required for PAN

Proof of identity
Proof of address
Proof of date of birth

About TAN

A TAN (Tax Deduction and Collection Account Number) is a ten-digit alphanumeric number issued by the Income Tax (IT) department to all persons responsible for collecting or deducting tax. Under Section 203A of the Income Tax Act, 1961, it is compulsory to quote TAN on all TDS or TCS returns.

What is TAN?

TAN i.e. Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting tax at source or collecting tax at source. It is compulsory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan, TDS/TCS certificates, Annual Information Return and other documents as may be prescribed.

Who must apply for TAN?

Every person liable to deduct tax at source or collect tax at source is required to obtain TAN. However, a person required to deduct tax under section 194IA (*) can use PAN in place of TAN as such person is not required to obtain TAN. (*) Section 194IA provides for deduction of tax at source from payment on transfer of certain immovable property other than agricultural land.

Why is it necessary to have TAN?

As per section 203A of the Income-tax Act, 1961, every person who deducts or collects tax at source has to apply for the allotment of TAN. Section 203A also makes it mandatory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan, TDS/TCS certificates and other documents as may be prescribed. As per section 272BB, failure to apply for TAN or not quoting the TAN in the specified documents attracts a penalty of Rs. 10,000/-.

Digital Signature (DSC)

A Digital Signature Certificate (DSC) is a secure digital key that is issued by the Certifying Authorities (CA) for the purpose of validating and certifying the identity of the person holding this certificate. Digital Signatures make use of the public key encryptions to create the signatures.

A DSC contains information about the user’s name, pin code, country, email address, date of issuance of certificate and name of the certifying authority. The DSCs are usually valid for one to two years. However, they can be renewed before the expiry period.