{"id":9912,"date":"2022-11-18T11:37:14","date_gmt":"2022-11-18T06:07:14","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=9912"},"modified":"2023-05-30T12:53:14","modified_gmt":"2023-05-30T07:23:14","slug":"what-is-tds","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/","title":{"rendered":"Tax Deducted at Source (TDS) &#8211; Meaning, Rates &#038; More"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Every entity is liable to pay taxes in India.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, since people managed to avoid paying taxes, the Government of India introduced TDS (Tax Deducted at Source) to ensure taxes would be deducted from specified payments well in advance.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This blog will explore what is TDS and everything you should know about TDS.\u00a0<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e5c39d3de4f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e5c39d3de4f\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#What_is_TDS\" >What is TDS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#What_is_TDS_Payment_Rates\" >What is TDS Payment Rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#What_is_TDS_Payment_Due_Dates\" >What is TDS Payment Due Dates?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#Details_of_TDS_on_Salary\" >Details of TDS on Salary\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#What_is_TDS_Returns_Filing_Process\" >What is TDS Returns Filing Process?\u00a0\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#Why_Should_You_Choose_RazorpayX_Tax_Payments\" >Why Should You Choose RazorpayX Tax Payments?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#Types_of_TDS_Returns_Forms\" >Types of TDS Returns Forms\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#Dates_for_Filing_TDS_Returns\" >Dates for Filing TDS Returns\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#FAQs\" >FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#Is_PAN_required_for_TDS_payments\" >Is PAN required for TDS payments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#Is_TDS_payable_only_by_salaried_individuals\" >Is TDS payable only by salaried individuals?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#Is_TDS_applicable_for_freight_and_transportation_charges\" >Is TDS applicable for freight and transportation charges?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#Who_has_to_file_TDS_Returns\" >Who has to file TDS Returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-tds\/#What_is_the_TDS_rate_for_contractors\" >What is the TDS rate for contractors?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_TDS\"><\/span><b>What is TDS?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">TDS is a direct tax that allows the <a href=\"https:\/\/incometaxindia.gov.in\/Pages\/Deposit_TDS_TCS.aspx#:~:text=The%20concept%20of%20TDS%20was,account%20of%20the%20Central%20Government.\" rel=\"nofollow noopener\" target=\"_blank\">government<\/a> to collect taxes at the source of income.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is collected from payments like rent, commission, and salaries that cross a certain threshold.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/tax-payments\/?r=blog_cta_business_banking_what_is_tds&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Automate TDS payments<\/a><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The introduction of TDS has ensured that income tax is deducted from payments well in advance. The deductee receives the net amount after tax is deducted.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The deductee? Let\u2019s understand what this means.<\/span><\/p>\n<p><b>Deductee <\/b><span style=\"font-weight: 400;\">is the person who receives the income after tax has been deducted. The TDS amount gets adjusted against their final income tax liability.\u00a0\u00a0<\/span><\/p>\n<p><b>Deductor: <\/b><span style=\"font-weight: 400;\">The deductor is the party that gives the income after deducting taxes to the deductee.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Listed below are the types of payments for which TDS is applicable:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Salaries<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Professional fees<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consultation fees<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commission payments<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest payments by banks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rent payments<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After knowing what<\/span> <span style=\"font-weight: 400;\">TDS is, one must be aware of the rules that it is governed by.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deduction of the requisite amount has to be done when the payment gets due or when the amount is disbursed.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">After deducting the amount, employers must submit the TDS to the government\u2019s account mandatorily <\/span><b>by the 7<\/b><b>th<\/b><b> of the following month.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A delay in tax deduction will attract a <\/span><b>penalty in the form of interest <\/b><span style=\"font-weight: 400;\">every month at the rate of 1% until the tax is deposited with the government.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If an employer fails to deposit TDS to the Central Government&#8217;s account within the stipulated date, interest at a 1.5% rate will be levied every month until it gets deposited.<\/span><\/li>\n<\/ul>\n<p>Tax Deducted at Source (TDS) is different from Tax Collected at Source (TCS). Read our <a href=\"https:\/\/razorpay.com\/learn\/difference-between-tds-and-tcs\/\">blog<\/a> to know the difference between the two!<\/p>\n<p style=\"text-align: center;\"><strong><a href=\"https:\/\/razorpay.com\/learn\/difference-between-tds-and-tcs\/\">Read more<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">We\u2019ve covered the basic details of what is TDS under the Income Tax Act. Different rates of TDS are applicable to different sections of income. This next section lists what these rates are.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_TDS_Payment_Rates\"><\/span><b>What is TDS Payment Rates<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Here is a brief overview on what the TDS payments rates are across different goods and services. For a more detailed list, read our blog on TDS Rates!<\/p>\n<p style=\"text-align: center;\"><strong><a href=\"https:\/\/razorpay.com\/blog\/tds-rate-chart\/\">Read more<\/a><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Section\u00a0<\/b><\/td>\n<td><b>Type of Payment\u00a0<\/b><\/td>\n<td><b>Rate (%)\u00a0<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 192<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Salary income<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The average rate will be calculated based on one&#8217;s existing income tax slab rate<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Dividend u\/s 2 (22)\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194 A<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Interest income (other than on securities)\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10%\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194 C<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Payment to a resident contractor or a subcontractor\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1% (for HUFs and Individuals)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2% (for others)\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194 D<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Insurance Commission\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5% (for HUFs and Individuals)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">10% (for others)\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194 G<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Commission on the sale of lottery tickets\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10%\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194 H<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Commission or brokerage\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5%\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194 \u2013 I\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rental income\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2% (plants, machinery or equipment)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">10% (land or building, furniture or fixture)\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194 \u2013 IA\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Transfer of immovable properties (except rural land)\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194 J<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Royalty, professional or technical fees to a director\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10%\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 194 LA\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Acquisition of specified immovable properties\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10%\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"What_is_TDS_Payment_Due_Dates\"><\/span><b>What is TDS Payment Due Dates?\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While discussing <\/span>what is TDS<span style=\"font-weight: 400;\">, we mentioned that it must be credited to the account of the Central Government before the due date. Deductors must credit this amount, failing which they have to pay penalties.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following is a table with all the due dates for TDS payments:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Month<\/b><\/td>\n<td><b>Due Dates<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">April<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> May<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">May<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> June<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">June<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> July<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">July<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> August\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">August\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> September\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">September<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> October\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">October<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> November<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">November\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> December\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">December<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> January\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">January\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> February\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">February<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> March\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">March\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">By 30<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> April\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Details_of_TDS_on_Salary\"><\/span><b>Details of TDS on Salary\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Salary is a type of compensation that people receive from employers. It is not associated with any fixed rate of tax deduction, but is dependent on the income tax slabs to which an employee belongs. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is the<\/span><b> employer&#8217;s responsibility<\/b><span style=\"font-weight: 400;\"> to calculate the amount payable as tax, depending on the income tax average rate.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/?r=blog_cta_business_banking_what_is_tds&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Explore RazorpayX!<\/a><\/span><\/p>\n<p><span style=\"font-weight: 400;\">This <\/span><b>average rate<\/b><span style=\"font-weight: 400;\"> is defined as the entire tax liability divided by an employee\u2019s total income. Employers also need to consider any employee investments before deducting the applicable tax on salary.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Given below are crucial points related to tax that is deducted from an individual\u2019s salary:<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Exemption<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Tax will not be deducted at source if one&#8217;s salary is equal to or less than Rs 2,50,000.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Exempted Allowances<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The amount allocated for House Rent Allowance (HRA), LTC or Leave Travel Concession, and traveling and conveyance are exemptions to TDS. Other benefits not part of the salary need to be subtracted from the employee&#8217;s total salary to calculate taxable income.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">RazorpayX enables businesses to improve their operations by supercharging payouts and automating payroll compliance. The best part? It automates TDS payments and vendor invoices, so you don\u2019t have to deal with the headache of calculating and subtracting taxes!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is a convenient tool for anyone who needs to learn <\/span>what is TDS<span style=\"font-weight: 400;\">\u00a0and the applicable rates on various payments.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_TDS_Returns_Filing_Process\"><\/span><b>What is TDS Returns Filing Process?\u00a0\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Given below is a step by step guide for filing TDS returns online:\u00a0<\/span><\/p>\n<p><b>Step 1:<\/b><span style=\"font-weight: 400;\"> Visit the official site of Income Tax and log in. Note that a user&#8217;s TAN would be their user ID.<\/span><\/p>\n<p><b>Step 2:<\/b><span style=\"font-weight: 400;\"> Navigate to the TDS menu and click &#8220;Upload TDS&#8221; from the dropdown menu.<\/span><\/p>\n<p><b>Step 3: <\/b><span style=\"font-weight: 400;\">Select the correct details in the form that you&#8217;ll be provided. Click on &#8216;validate&#8217; to confirm.<\/span><\/p>\n<p><b>Step 4:<\/b><span style=\"font-weight: 400;\"> Upload the TDS zip file and click to e-verify.<\/span><\/p>\n<p><b>Step 5<\/b><span style=\"font-weight: 400;\">: Validate the form using either DSC or Electronic Verification Code. Submit the form after validation.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Should_You_Choose_RazorpayX_Tax_Payments\"><\/span><b>Why Should You Choose <a href=\"https:\/\/razorpay.com\/docs\/x\/tax-payments\/manual-tds\/\">RazorpayX Tax Payments<\/a>?\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If you are struggling to understand <\/span>what is TDS<span style=\"font-weight: 400;\">\u00a0and how to file it, you can choose RazorpayX for one-tap automated tax payments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Listed below are the key benefits of choosing RazorpayX Tax Payments:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No data entry error as TAN and address details are saved in the system.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Employers can store the data and make TDS payments later.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No need to provide account details for every TDS payment.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The dashboard will display CIN and CRN numbers after the TDS payment.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It saves a you a <\/span><b>lot<\/b><span style=\"font-weight: 400;\"> of time.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Types_of_TDS_Returns_Forms\"><\/span><b>Types of TDS Returns Forms\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The following table provides the details of TDS return forms:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>TDS Return Forms \u2013 Types\u00a0<\/b><\/td>\n<td><b>What It Includes\u00a0<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Form 24Q\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Statement of TDS from salaries\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Form 26Q<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Statement of TDS for all payments other than salaries\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Form 27Q<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Statement of TDS on incomes made from dividends, interests and other amounts payable to NRIs<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Form 27EQ\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Statement of tax collection at source\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Dates_for_Filing_TDS_Returns\"><\/span><b>Dates for Filing TDS Returns\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The table below provides the details of TDS filing dates:\u00a0<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Quarter Period\u00a0<\/b><\/td>\n<td><b>Date for Filing TDS Returns\u00a0<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">April \u2013 June\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> July\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">July \u2013 September\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> October<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">October \u2013 December\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> January\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">January \u2013 March\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> May\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The process of TDS calculation and payments is quite tedious and long.\u00a0<\/span><\/p>\n<p>Fortunately, there&#8217;s a solution!<\/p>\n<p><span style=\"font-weight: 400;\">Choose RazorpayX to receive the benefits of automated TDS payments. You won&#8217;t have to Google &#8220;What is TDS&#8221; ever again!\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/x.razorpay.com\/auth\/signup\/?r=blog_cta_business_banking_what_is_TDS&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Join RazorpayX<\/a><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div id=\"rank-math-rich-snippet-wrapper\"><div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-1\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Is_PAN_required_for_TDS_payments\"><\/span>Is PAN required for TDS payments?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes, PAN (Permanent Account Number) details are required for TDS payments.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-2\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Is_TDS_payable_only_by_salaried_individuals\"><\/span>Is TDS payable only by salaried individuals? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>As per the rules of the IT Act, everyone with an annual income above \u20b92.5 lakhs must pay taxes. TDS needs to be paid both by salaried and self-employed people. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-3\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Is_TDS_applicable_for_freight_and_transportation_charges\"><\/span>Is TDS applicable for freight and transportation charges? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>If the taxpayer owns more than 10 goods carriers, TDS will be applicable for the amount paid for freight and transportation charges. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-4\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Who_has_to_file_TDS_Returns\"><\/span>Who has to file TDS Returns? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Employers and businesses with valid TAN who have deducted tax for specified payments must file TDS returns. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-5\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"What_is_the_TDS_rate_for_contractors\"><\/span>What is the TDS rate for contractors? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The stipulated TDS rate for contractors is 1% if payments are made to individual\/HUFs. The TDS rate is 2% if such payments are made to others.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Every entity is liable to pay taxes in India.\u00a0 However, since people managed to avoid paying taxes, the Government of India introduced TDS (Tax Deducted at Source) to ensure taxes would be deducted from specified payments well in advance.\u00a0 This blog will explore what is TDS and everything you should know about TDS.\u00a0 What is<\/p>\n","protected":false},"author":106,"featured_media":9913,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-9912","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business-banking"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/9912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/106"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=9912"}],"version-history":[{"count":1,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/9912\/revisions"}],"predecessor-version":[{"id":20266,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/9912\/revisions\/20266"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/9913"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=9912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=9912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=9912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}