Companies paying salary should also furnish TDS returns containing details of deductee(s) and challan details relating to deposit of tax to IT Department. It is mandatory to furnish TDS returns in electronic form (eTDS return)
Companies making payments (specified under Income Tax Act) to third parties (deductees) are required to deduct tax at source (Tax Deducted at Source -TDS) from these payments. Post deduction, the payments must be deposited at any of the designated branches of banks authorized to collect taxes on behalf of the Government of India. If TDS is deposited electronically, it is called eTDS.
Related Links:
- Documentation Page - To learn more about eTDS, click here.
- Product Update - To read our product update, click here.