As a business owner, it is essential to file your TDS returns on time to avoid heavy penalties and fees. Failing to file the TDS return can result in unwanted notices and demands from the income tax department, forcing you to pay hefty fines and fees. In this article, we will provide you with an easy way to file TDS returns and avoid these penalties.

Manisha Mohol and Associates is a chartered accountants firm based in Ponda, Goa, India, with over 18 years of experience in providing a range of services, including income tax, GST, and accounting systems. Led by Mrs. Manisha Fatarpekar, an expert in income tax and GST matters, the firm is known for setting up efficient accounting systems and helping taxpayers with their income tax matters, including filing ITR and updating ITR for AY 2020-21 before the deadline of 31st March 2023.

If you have deducted TDS and paid it to the Government but failed to file the TDS return, you may be at risk of heavy penalties amounting to Rupees 1 Lakh per return, in addition to a late filing fee of Rupees 200 per day till the date of filing the return. Many business owners assume that paying TDS to the Government completes the procedure, but this is not the case.

To avoid these penalties, you can follow these simple steps:

1. Visit the NSDL portal at https://www.tin-nsdl.com and go to the downloads section. Select TDS/e-TCS return, then Quarterly return, and then regular return. Next, select “New e-TDS/TCS return preparation.” This utility TDS software allows you to prepare your TDS return .fuv file easily.
2. Visit the income tax portal at https://www.incometax.gov.in and register your TAN and login. Then, upload the .fuv file that you prepared on the NSDL portal.

If you need further assistance, Manisha Mohol and Associates can help you with tax compliance services. You can fill out the enquiry form on their website, and their team will get in touch with you to discuss and resolve your problem.

Filing your TDS returns on time is crucial to avoid penalties and ensure compliance with income tax regulations. With the help of Manisha Mohol and Associates, you can make this process easier and stress-free. Don’t let the simple task of filing TDS returns become a headache for your business. Take action now to avoid heavy penalties and ensure compliance with income tax regulations.