TDS (with E-Filing)

Interview Questions

TDS stands for Tax Deducted at Source. It ensures that tax is deducted at the source of income itself, ensuring a steady inflow of revenue to the government.
E-filing for TDS returns involves submitting tax-related information electronically. It streamlines the process and improves accuracy.
Common components include PAN details, deductor and deductee information, TDS details, and challan details.
TDS is deducted from the income, while TCS is collected on the sale of certain goods. Both are methods of collecting tax at the source.
Form 26AS is a consolidated tax statement that includes details of TDS, TCS, and other tax-related information. It helps taxpayers verify their tax credits.
The due date varies based on the type of deductor and deduction. For example, TDS on salaries has a different due date than other types of TDS.
Late filing can attract penalties under Section 234E. The penalty amount depends on the delay in filing.
Common mistakes include incorrect PAN details, mismatch in amounts, and failing to validate the return before submission.
TDS impacts individuals by deducting tax at the source. To ensure compliance, individuals should verify Form 26AS regularly and report any discrepancies.
A DSC is required to authenticate the identity of the person filing the return electronically. It ensures the security and integrity of the submitted data.

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