01 May 2010
Tds Return of Contractor is filed in form 26Q while Tds return of salary is filed in 24Q. Tds return is filed quarterly basis 1st Quarter April to June - 15 July 2nd Quarter July to Sept - 15 Oct 3rd Quarter Oct to Dec - 15 Jan 4th Quarter Jan- March - 15 June
Separte challan is required to depoisted as per Tds section. TDs on salary is deducted on average rate of basis of annual salary. If any person salary exceeds exemption limit i.e 160000 after all deductions. Then Income tax payable is divided by 12 for average tds. now you have to deducted tds on the basic of it. Tds on salary is to be deducted monthly basic. If deducted more in any month, then in next month , you can deduct low. but you can't deduct all the tds at last.
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