BRIEF ABOUT RETURNS
1. PF Return (Provident Fund Return):
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Purpose: The PF return is filed by employers to report details of employees' provident fund contributions, both employer and employee contributions.
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Frequency: Typically filed on a monthly basis.
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Filing Authority: The Employees' Provident Fund Organization (EPFO) manages PF returns.
2. ESI Return (Employees' State Insurance Return):
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Purpose: Employers file ESI returns to report and remit contributions made towards employees' state insurance, which provides healthcare benefits to employees.
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Frequency: Filed on a half-yearly basis.
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Filing Authority: The Employees' State Insurance Corporation (ESIC) manages ESI returns.
3. TDS Return (Tax Deducted at Source Return):
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Purpose: TDS returns are filed by deductors (individuals or entities making payments) to report tax deducted at source on various types of payments, such as salaries, interest, rent, and more.
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Frequency: Filed quarterly or annually, depending on the type of deductor.
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Filing Authority: The Income Tax Department governs TDS returns.
4. Income Tax Return (ITR):
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Purpose: ITR is filed by individuals, businesses, and other entities to report their income, deductions, and tax liabilities for a specific financial year.
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Frequency: Filed annually.
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Filing Authority: The Income Tax Department is responsible for ITR filings.