Quarterly E-TDS Returns Made Compulsory

New Delhi: Tax audit assessees and entities with deductee records of more than 50 will now be asked to electronically file their quarterly tax deducted at source (TDS)/tax collected at source (TCS) returns with the tax department. The Finance Ministry has expanded the scope of compulsory filing of quarterly TDS/TCS returns in electronic format. Prior to the latest move, government offices and corporates were the only two categories that were requisite to file their quarterly TDS/TCS returns electronically. The new norms have come into effect from September 1. Accordingly, quarterly statement for the quarter ended September 30 should be compulsorily filed in electronic format by all tax audit assessees and those with deductee records of more than 50.