| It is a known fact that every person, who has | | | | days. To file e-TDS return, preparation of the |
| earnings exceeding the non-taxable limit of annual | | | | data format that is issued by e-filing administrator |
| income should pay income tax and file income tax | | | | which is available on the Income-Tax Department |
| returns periodically in-order to avoid being sued by | | | | websites. You can find small validation software |
| the government. Filing income tax returns is | | | | which is available with the data structure. You |
| actually a responsibility of every dutiful citizen. | | | | have to validate the data structure of the e-TDS |
| TDS - Tax Deducted at Source is the amount cut | | | | return which you have prepared and which has |
| from your earnings by the employer, institution, | | | | the all the required features. Every e-TDS return |
| governmental institutions or any other source | | | | file (Form 24, 26 or 27) must be stored in a |
| where you obtain your income from. This is cut | | | | separate CD or floppy. Every e-TDS return file |
| because you are meant to pay the tax before | | | | should have a duly filled Form 27A attached with |
| hand. The income tax act makes it mandatory | | | | it and signed by an authorized signatory. Every |
| for the payer of such income to cut a stipulated | | | | e-TDS return file must be in a single CD/floppy. It |
| percentage of the income by the method of | | | | must not span across multiple floppies. If the size |
| income - tax and give only the balance amount to | | | | of the e-TDS return file is larger than the space |
| the receiver of the income. The tax amount | | | | available in a single floppy, it must be submitted in |
| deducted by the payer at the source itself is to | | | | a CD. If you want to compress the file it should |
| be deposited in the Government treasury to the | | | | be done using Winzip 8.1 or ZipltFast 3.0 |
| credit of Central Govt. within certain time | | | | compression utility only which would guarantee |
| specified by the income tax acts. The amount so | | | | fast and smooth acceptance of your e-TDS |
| deducted as TDS from the income of the | | | | return file. Every CD/ floppy should have a label |
| receivers is deemed to be the amount paid as | | | | attached to it stating the name of the deductor |
| income tax by the receivers when they file their | | | | of your tax in advance, his TAN Form.no. 24, 26 |
| income tax assessment. Income coming from | | | | or 27 and the period to which the return is meant |
| numerous sources is subjected to TDS. Few of | | | | for. You must ensure that there are no strikings |
| the incomes which come under the TDS act are | | | | or overwritings on Form 27A. If there are any |
| salary, interest, dividend, interest on securities, | | | | such mistakes they must be ratified by an |
| commission, brokerage, lottery wins, money won | | | | authorized signatory. No bank challan. For Form 26 |
| in horse races, rent, fees for professional | | | | and 27 deductor need not furnish physical no |
| services, fees for technical services etc. | | | | deduction copy but Form 24 needs it. Form 49B |
| In-order to file TDS you can go for e-TDS now a | | | | is required if TAN is not there. |