
TDS returns
Most of the entities (such as proprietorship business, partnership firm, company, government departments etc.,) must deduct tax at source while making certain payment like salary, contract payments, interest, dividend, interest on securities, commission and brokerage, rent, fees for professional and technical services, payments to non-residents etc. Entities having TAN Registration and have deducted TDS must then file TDS returns. TDS collected during the preceding month, must be paid into authorized bank quoting TAN on or before the 7th day of the following month.