TDS (Tax Deducted at Source) is the tax that’s deducted by the payer from your income before you receive it. This could be from your salary, professional income, rent, etc. The payer then deposits this tax with the Income Tax Department on your behalf.
The idea behind TDS is to collect taxes at the source, ensuring the government receives a steady flow of revenue throughout the year. It also helps ensure that taxes are paid on time.
Steps to update Tax Deducted at Source
There are three ways to add the TDS:
- Import from ITD using Autofill
- Navigate to File > Tax Credits
- Select Import from ITD using Autofill
- Connect to ITD using Aadhaar OTP or credentials
Once connected, your TDS and other tax credit details will be imported.
- Navigate to File > Tax Credits
Upload Form 26AS
- Go to File > Tax Credits
- Click on Upload Form 26AS
- Attach your Form 26AS (downloaded from your Income Tax account)
- Review the fecthed details and proceed
- Go to File > Tax Credits
- Add Manually
- Go to File > Tax Credits
- Click Add manually and select the type of tax credit
- Fill in the required details such as TAN, name, amount, etc.
- Go to File > Tax Credits
If you still have any further queries, you can raise a ticket to get in touch with us.