Following are the assessees liable to file quarterly TDS return electronically:

(a) People whose accounts are Audited u/s44AB
(b) People holding an office under the Government
(c) Company

If an assessee has not filed the return within 1 year from the due date of filing return or if a person has furnished incorrect information, he/she shall also be liable for penalty. The penalty levied should not be less than Rs 10,000 and not more than Rs 1,00,000.

According to Section234E, if an assessee fails to file his/her TDS Return before the due date, a penalty of Rs 200 per day shall be paid by the assessee until the time the default continues. However, the total penalty should not exceed the TDS amount.

Deductors/collectors are required to prepare e-TDS/TCS statements as per these file formats using, NSDL e-Gov. Return Preparation Utility or in-house software or any other third party software and submit the same to any of the TIN-FCs established by NSDL e-Gov. NSDL e-Governance has developed a software called e-TDS Return Preparation Utility (RPU) to facilitate preparation of e-TDS returns. Users must pass the e-TDS/ TCS return file generated using RPU through the File Validation Utility (FVU) to ensure format level accuracy of the file. This utility is also freely downloadable from NSDL e-Gov TIN website. But it is advisable to file return through expert which is more accurate and cost effective.

• com is one of the best online service portals to help factories and establishments to receive accounting services in India. We have 10 years of experience in filing of TDS Return.

Legalsahayak provides bookkeeping services across India in all cities. Physical presence is not required.