Question 1

Who is required to deduct TDS and file quarterly TDS returns in India?

Accepted Answer

Any business entity, company, LLP, partnership firm, or individual/HUF subject to tax audit that makes specified payments—such as employee salaries (Section 192), contractor payments (194C), professional fees (194J), rent (194I), commission (194H), or foreign remittances (195)—must obtain a TAN, deduct TDS, deposit it monthly, and file quarterly TDS returns.

Question 2

What are the quarterly TDS return forms (legacy, up to FY 2025-26)?

Accepted Answer

Form 24Q (TDS on Salary payments), Form 26Q (TDS on domestic non-salary payments like contractor fees, rent, professional charges), Form 27Q (TDS on payments to Non-Residents/foreign companies), and Form 27EQ (Quarterly TCS collection returns). TaxQue automates all 4 forms seamlessly.

Question 3

What are the quarterly statutory deadlines for filing TDS returns?

Accepted Answer

Quarter 1 (April–June) is due by 31st July; Quarter 2 (July–Sept) by 31st October; Quarter 3 (Oct–Dec) by 31st January; and Quarter 4 (Jan–March) by 31st May. Monthly TDS tax deducted must be deposited into the government treasury by the 7th of every succeeding month.

Question 4

What are the penalties for late filing of TDS returns?

Accepted Answer

For periods up to FY 2025-26 under Section 234E (and from Tax Year 2026-27 under Section 427 of the Income-tax Act, 2025), late filing attracts a mandatory non-waivable statutory fee of ₹200 per day until the return is filed (capped at the total TDS amount). In addition, Section 271H allows assessing officers to levy penalties between ₹10,000 and ₹1,00,000 for delayed filings. TaxQue helps you file quarterly returns on time.

Question 5

What happens if I fail to deduct TDS or fail to deposit deducted TDS?

Accepted Answer

Under Section 40(a)(ia), 30% of the relevant expenditure is disallowed and added back to your business taxable profit. In addition, 1% per month interest is charged for non-deduction under Section 201(1A), and 1.5% per month interest is charged for non-deposit of deducted tax.

Question 6

Who will prepare and validate our quarterly TDS returns at TaxQue?

Accepted Answer

Your return is prepared by a dedicated TDS specialist and validated using the official NSDL Return Preparation Utility (RPU) and File Validation Utility (FVU), supervised by a Chartered Accountant to ensure zero PAN-challan mismatches.

Question 7

How do we generate and issue Form 16 and Form 16A certificates to deductees?

Accepted Answer

Once your quarterly TDS return is processed by TRACES, TaxQue downloads and generates digitally signed Form 16 (for salary) and Form 16A (for non-salary) certificates with official TRACES verification watermarks for seamless distribution to your employees and vendors.

Question 8

What documents are required to file quarterly TDS returns?

Accepted Answer

You only need your TAN number, the monthly BSR code and Challan Identification Numbers (CIN) of tax paid, the deductee Excel sheet (PAN, name, payment amount, section, and date of deduction). Our team handles all formatting.

Question 9

How do you resolve TRACES TDS default notices (Justification Reports)?

Accepted Answer

If you receive a demand notice for short deduction, late payment interest, or PAN errors, TaxQue downloads the official TRACES Justification Report, identifies the exact error, files a TDS Correction Return (C1, C2, C3, C5, or C9 correction), and closes the demand.

Question 10

What is Section 206AB Higher TDS on non-filers and how do you verify it?

Accepted Answer

Under Section 206AB, if a vendor has not filed their ITR for the previous year and their aggregate TDS/TCS was ≥ ₹50,000, you must deduct TDS at double the normal rate or 5%. TaxQue performs automated bulk PAN compliance checks on the e-filing portal to protect you from short-deduction liabilities.

Question 11

Can I correct a wrong PAN or challan allocation in an already filed TDS return?

Accepted Answer

Yes. We file online and offline TDS Correction Statements on TRACES to update deductee PANs, reallocate unconsumed challans, add missing deductee records, and eliminate outstanding defaults.

Question 12

What is Form 26QB, 26QC, and 26QD for individuals buying property or paying high rent?

Accepted Answer

Individuals buying property worth ≥ ₹50 Lakhs must file Form 26QB (1% TDS under 194-IA). Individuals paying monthly rent > ₹50,000 must file Form 26QC (under 194-IB). TaxQue files these single-challan statements and helps you download Form 16B/16C from TRACES.

Question 13

How does TaxQue ensure data accuracy in our quarterly TDS returns?

Accepted Answer

We perform automated PAN name matching with the Income Tax database and verify unconsumed challan balances on TRACES before creating the final FVU file.

Question 14

How long does TaxQue take to process and file our quarterly TDS return?

Accepted Answer

Once the payment challans and deductee spreadsheets are shared, our TDS desk validates the file and completes the TIN-FC submission within 24 to 48 hours.

Question 15

Can you help our business apply for a new TAN number?

Accepted Answer

Yes. If your business does not yet have a Tax Deduction and Collection Account Number (TAN), our team prepares Form 49B and secures your official TAN allotment within 2 to 3 business days.

Question 16

What is the fee structure for TDS return filing with TaxQue?

Accepted Answer

We offer transparent, fixed pricing per quarter based on the number of deductee records, covering challan reconciliation, FVU validation, filing acknowledgment, and Form 16/16A generation with zero hidden costs.

Feature & Deliverable Matrix	Basic	Standard★ Most Popular	Premium
One employer or property buyer; one filing period	✓	✓	✓
Choose one: salary Form 138 or resident-property Form 141	✓	✓	✓
One property buyer-seller/month if Form 141 is chosen	✓	✓	✓
PAN, transaction and challan detail checks	✓	✓	✓
Preparation, validation, submission and acknowledgement	✓	✓	✓
Second eligible filing in the same period	—	✓	✓
Commission/brokerage TDS in Form 140 (earlier 194H)	—	✓	✓
Certificate download assistance after portal processing	—	✓	✓
Challan reconciliation and acceptance follow-up	—	✓	✓
Other resident non-salary TDS in Form 140 (contract, rent, fees, interest)	—	—	✓
Up to one each of Forms 138, 140 and 141	—	—	✓
Up to 250 quarterly entries and 50 challans	—	—	✓
One Form 138/140 client-data correction within 30 days	—	—	✓

Information group	Examples	Preparation note
Deductor and deductee profile	TAN, legal name, deductee PAN, residency, address and contact information.	Validate PANs and deductee category before preparing the statement.
Payment and tax deduction details	Invoices, payroll, payment date, credit date, TDS/TCS section, rate and amount deducted/collected.	Reconcile amounts to ledger, payroll and tax rules applicable to the period.
Challan and deposit evidence	Challan identification number, BSR code, payment date, tax/interest/fee split and bank confirmation.	Match each deduction/collection to the correct challan and payment period.
Return utility and prior filing	Previous statement acknowledgement, FVU/utility file, defaults and correction details.	Use the applicable Act’s current statement form and utility.
Certificate issuance details	Deductee certificate records and TDS/TCS certificate delivery status.	Reconcile certificates to the processed statement and official tax-credit records.

Milestone	What determines it	Important note
Q1: April–June	File by 31 July of the financial/tax year.	Select the applicable Act, form and quarter.
Q2: July–September	File by 31 October.	For Tax Year 2026-27 Q2, Form 138/140/144 as applicable.
Q3: October–December	File by 31 January of the financial/tax year.	Check portal for applicable form and any notified extension.
Q4: January–March	File by 31 May of the following year.	Ensure annual totals and deductee details reconcile.
Challan-cum-statement	Specific transaction statements such as Form 141 have event-based filing deadlines, separate from quarterly statements.	Confirm whether this route replaces a quarterly return for the transaction.
Correction statements	Correction filing for Tax Year 2026-27 is enabled on the e-filing portal.	Use the current form and correction workflow; confirm availability for the relevant quarter.

Service element	TaxQue process	What the client can verify
Periods up to FY 2025-26	Use applicable 1961 Act returns such as 24Q, 26Q and 27Q.	Check the legacy form rules and filing utility for the period.
Tax Year 2026-27 salary/non-salary	Form 138 for salary; Form 140 for resident non-salary; Form 144 for non-resident non-salary TDS.	Confirm the payment category and current portal route.
Quarterly statements	Used to report deductions/collections across a quarter with quarterly due dates.	Forms 138, 140 and 144 manuals list 31 July, 31 October, 31 January and 31 May.
Specified transactions	Some transaction types are reported using challan-cum-statements, e.g. Form 141 under specified section 393 categories.	This can replace the regular quarterly statement for those transactions.

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TDS and TCS Statement Filing: Current Form and Quarter

What is TDS Return Filing?

Check deductee category and current rules

How to Get Started

1. Identify the tax year, deductor and statement

2. Reconcile challans and deductee data

3. File, confirm and correct if needed

Documents Required for TDS Return Filing

Quarterly TDS/TCS Statement Due Dates and Forms

TDS/TCS Reporting Depends on Deduction Duties, Not One Turnover Limit

Why Choose TDS Return Filing

Correct form for tax period

Challan and PAN validation

Quarter filing and correction trail

Who Must File a TDS/TCS Statement

1Match the deduction to the correct statement

TDS Return Forms: Choose by Tax Year and Payment Type

Quarterly TDS/TCS Return Preparation and Correction

Current form and quarter confirmed

Challan, PAN and deduction checks

Filing and correction tracking

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