Salary TDS Return 26Q Online
Complete Solution - Documentation, Filing, Approval
Eevery person who is responsible for paying any income chargeable under the head ‘Salary’ is required to deduct TDS. Due to this mandate, every employer is tasked with deducting tax at source (TDS) from the employee's salary before crediting the same to the employee. Since TDS deduction is compulsory. TaxMyTax helps you to file the correct TDS statement.
- 1200+ Founders Trust Us!
Start Your Business Journey
Top Rated On:
How to File Salary TDS Return 26Q Online?
A Step by step guide that will help you e-file income tax return by TaxMyTax Income Tax Team
Understanding
Our team helps you to gather all the required data for TDS Filings and helps you to maintain an easy system for TDS Filings.
Submission of Documents
Our team of professionals prepare the necessary data and guides you for TDS status and upload the TDS Return with Verification.
Filing of Return & Tracking
Our TDS team will file the return and share you the acknowledgement. We also provide the report that enables you for better and transparent understanding of your TDS Return.
Overview & Concept
The main purpose of ‘Tax deduction at Source’ is the collection of tax at the very source of income. The Deductor is required to deduct an appropriate tax and deposit the same with the Government. Different rates of TDS are prescribed for different payment. The present article would help the reader to understand the provisions of section 192 relating to TDS on Salary.
Section 192 says that every person who is responsible for paying any income chargeable under the head ‘Salary’ is required to deduct TDS. Thus, provisions of section 192 apply only if the following conditions are satisfied –
1. There is an employer and employee relation;
2. The payment made by the employer to the employee is in nature of ‘Salary’; and
3. The income chargeable under the head ‘Salary’ is over and above the maximum amount not chargeable to tax.
What is the Rate of TDS Deduction on Salary ?
‘The Average rate of Income Tax’ is computed based on the rates in force during the relevant Financial Year. It is pertinent to note that the employer i.e., the Deductor has been bestowed the right to make appropriate adjustment for any type of shortfall / excess in the TDS already deducted in the subsequent TDS deduction.
In general terms terms, average rate can be defined as the total tax liability divided by total income of an employee. To arrive at total tax liability for deducting tax on salary, employer will take into account the tax-saving investments made by him.
When to deduct TDS on salary ?
The liability to deduct TDS arises at the time of actual payment of Salary. It is important to note that the liability arises at the time of payment of Salary and not at the time of accrual
The Time limit for deposit of TDS on Salary –
| Type of Deductor | Time limit | Remarks |
| Other than Government Office (i.e. normal Deductor) | Within 7 days of the subsequent month in which TDS is deducted. | Applicable for the months of April to February |
| On or before 30th April in case of income credited /paid in the month of March | Applicable for the month of March | |
| Government Office | Same day | Where the sum deducted has been paid without the production of a challan |
| Within 7 days of the subsequent month in which TDS is deducted. | Where the tax is paid accompanied by an income tax challan. |
What are the Due Dates for Filing of TDS Return ?
The Deductor / Employer is required to furnish a quarterly return in Form 24Q within the following prescribed due dates –
| Period | Due dates |
| April to June | On or before 31st July |
| July to September | On or before 31st October |
| October to December | On or before 31st January |
| January to March | On or before 31st May |
Frequently Asked Questions
Section 192 in the income tax covers the provisions relating to deduction of tax at source on salary income. As per the provisions of section 192, the employer, at the time of paying salary to his employee, is required to deduct tax at source TDS.
Yes, the employer is mandatorily required to deduct TDS on salary as per provisions of section 192.
TDS on salary is required to be deducted at the time of payment of salary. Thus, in case of advance salary, the TDS is to be deducted at the time of payment of advance salary.
If TDS is not deducted on salary, the employer is liable to pay interest for non-deduction of TDS @ 1% per month from the date on which tax was deductible till the date tax actually deducted.
If TDS deducted by the employer is not deposited, the employer is liable to pay interest for late deposit @ 1.5% per month from the date on which tax was deducted till the date on which TDS was credited to the Government. Further, the Diductor would also be penalize with fine and rigorous imprisonment for a term not less than 3 months but may extend to 7 years.
Enquire Now
Top Rated On:
Call: 9999999999
Our Testimonials
Latest Reads
