TDS Return Filing Guide 2026: Due Dates, Forms, Penalties & Rates | Taxquick
Quick Summary
- TDS returns must be filed quarterly using Forms 24Q, 26Q, 27Q, or 27EQ
- Due dates: July 31, Oct 31, Jan 31, and May 31 for each quarter
- Late filing penalty: ₹200/day under Section 234E, capped at TDS amount
- Taxquick handles complete TDS return filing and correction statements
If you deduct TDS (Tax Deducted at Source) from salaries, contractor payments, rent, or professional fees, you must file TDS returns quarterly with the Income Tax Department. Missing deadlines means hefty penalties. This comprehensive guide covers every TDS form, rate, due date, and penalty for FY 2025-26.
TDS Return Forms and Applicability
| Form | Type of Payment | Who Files |
|---|---|---|
| Form 24Q | Salary payments | Employers |
| Form 26Q | Non-salary payments (rent, contractor, professional fees) | Businesses, individuals |
| Form 27Q | Payments to NRIs/foreign companies | Any deductor |
| Form 27EQ | TCS (Tax Collected at Source) | Sellers/collectors |
TDS Return Due Dates FY 2025-26
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | April – June 2025 | July 31, 2025 |
| Q2 | July – September 2025 | October 31, 2025 |
| Q3 | October – December 2025 | January 31, 2026 |
| Q4 | January – March 2026 | May 31, 2026 |
Common TDS Rates for FY 2025-26
| Section | Nature of Payment | TDS Rate | Threshold |
|---|---|---|---|
| 192 | Salary | Slab rate | Basic exemption |
| 194A | Interest (other than securities) | 10% | ₹40,000 (₹50,000 for seniors) |
| 194C | Contractor payments | 1% (individual) / 2% (others) | ₹30,000 single / ₹1,00,000 aggregate |
| 194H | Commission/Brokerage | 5% | ₹15,000 |
| 194I | Rent | 2% (plant) / 10% (land/building) | ₹2,40,000 |
| 194J | Professional/Technical fees | 10% (professional) / 2% (technical) | ₹30,000 |
| 194Q | Purchase of goods | 0.1% | ₹50,00,000 |
Penalties for Late/Non-Filing of TDS Returns
| Default | Section | Penalty |
|---|---|---|
| Late filing of TDS return | 234E | ₹200 per day until filed (max = TDS amount) |
| Late deposit of TDS | 201(1A) | 1.5% per month from deduction date |
| Non-deduction of TDS | 201(1) | Deemed assessee in default + interest |
| Incorrect TDS return | 271H | ₹10,000 to ₹1,00,000 |
TDS Return Filing Process with Taxquick
Step 1: Share your TDS deduction details (challan numbers, deductee info, amounts). Step 2: Taxquick prepares the TDS return in the applicable form (24Q/26Q/27Q). Step 3: We validate using the FVU (File Validation Utility). Step 4: Return filed on TRACES portal with your DSC or authorized signatory. Step 5: You receive the acknowledgment and filing receipt.
Frequently Asked Questions
Who needs to file TDS returns?
Any person or entity that deducts TDS must file TDS returns. This includes employers (salary TDS), businesses (contractor/rent/professional fee TDS), and individuals/HUFs liable to tax audit who deduct TDS on rent above ₹50,000/month.
What is the penalty for filing TDS return one month late?
Under Section 234E, the late fee is ₹200 per day of delay. For a 30-day delay, the penalty would be ₹6,000, but it cannot exceed the total TDS amount for that quarter. Additionally, penalties under Section 271H (₹10,000 to ₹1 lakh) may apply.
Can I file a correction TDS return?
Yes, you can file a correction statement (revised TDS return) on the TRACES portal to fix errors in the original return — such as wrong PAN, incorrect amount, or missing deductees. Taxquick handles correction statements for all TDS forms.
Is TDS return filing different from TDS payment?
Yes. TDS payment (challan deposit) must be done by the 7th of the following month. TDS return filing is quarterly and summarizes all TDS deductions and payments for that quarter. Both are mandatory and have separate penalties.
How much does Taxquick charge for TDS return filing?
TDS return filing starts at ₹999 per quarter per form. Correction statements are charged at ₹499. Annual packages are available for businesses that need all four quarters filed regularly.
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