Tax Deduction at Source (TDS) Reporting
As per India TDS tax system, a deductor must file a TDS return. A TDS return is a quarterly statement that must be submitted on time to the Income Tax Department of India. TDS returns are required to be filed after specified intervals and include details such as TAN, TDS Payment, type of payment, PAN, and so forth.
Using the India Localization SuiteTax Reports SuiteApp, you can generate the following tax reports for TDS tax return filing purposes:
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Income Tax Form 26Q – This report generates the resident vendor’s transactions for each subsidiary. This report should be generated quarterly.
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Income Tax Form 27Q – This report generates the non-resident vendor’s transactions for each subsidiary. This report should be generated quarterly.
To view, edit, and export the reports, go to Reports > Tax > Country Tax Reports.