TDS return is the statement filed with the income tax department by deductors or collectors of TDS/TCS stating the details of amounts deducted/collected along with the PAN number, date and other essential details regarding the transaction.
A deductor has to deposit the deducted TDS to the government and the details of the same have to be filed in the form of a TDS return. A TDS return has to be filed on quarterly basis and failing to which will incur penalty.
Deductor is a person / legal entity who deducts Tax & remits the same to the Government by filing TDS returns.
Deductee is a person/legal entity from whom the Tax is deducted.