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TDS Returns and Revision

The significance of TDS returns, revisions, and errors that are included in TDS returns are discussed.

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TDS Returns and Revision

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  1.   Review Your TDS Returns   TDS Returns and Revisions:  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 TDS deducted  and deposited by you for that specific quarter.   

  2.   You need to file a TDS return or TDS revision if you have wrongly shown any details in the  original TDS. A few errors include wrong date, wrong PAN, or no tax deduction.   You need to revise your TDS Return, if you have short-paid any and received notice from the  Income tax department. It is important to note that by paying a short TDS return your job is not  done. This has to be effected to correctly file the TDS Report.  There is no due date that the TDS Return has to be filed. It can be corrected as many times as  required. Once the error is detected you should file a TDS return.     

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