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Our TDS (Tax Deducted at Source) return filing services are designed to help businesses and professionals comply with TDS regulations seamlessly and accurately. We provide end-to-end assistance in the entire TDS return filing process, ensuring timely submissions and minimizing the risk of errors and penalties.
Our TDS (Tax Deducted at Source) return filing services are designed to help businesses and professionals comply with TDS regulations seamlessly and accurately. We provide end-to-end assistance in the entire TDS return filing process, ensuring timely submissions and minimizing the risk of errors and penalties.
TDS (Tax Deducted at Source) is a mechanism used by the government to collect income tax at the source of income generation. It is applicable to various income sources, such as salary, interest, commission, rent, and professional fees. As per the Income Tax Act, any person or organization responsible for making payments to an individual or entity is required to deduct tax at the source if the payment exceeds a specified threshold limit. TDS Return Filing is the process of submitting details of the tax deducted at source to the Income Tax Department.
Here is detailed information about TDS Return Filing:
Collect the necessary information, such as the deductor’s and deductees’ PAN, TAN, amount of tax deducted, and the TDS challan details.
Choose the appropriate TDS return form based on the type of payment.
Fill in the required details in the form, either manually or using TDS return preparation software.
Validate the return using the File Validation Utility (FVU) provided by NSDL or any other certified agency.
Submit the return electronically through the e-filing portal of the Income Tax Department or physically at TIN-FC (Tax Information Network Facilitation Center).
Late filing fee: A fee of INR 200 per day is levied for late filing, but the total fee cannot exceed the total amount of TDS.
Penalty: A penalty ranging from INR 10,000 to INR 1,00,000 can be imposed for non-filing or incorrect filing of TDS returns.
Interest: If the TDS is not deducted or not deposited on time, interest is charged at 1% per month for non-deduction and 1.5% per month for non-payment.
TDS Certificate: After filing the TDS return, the deductor must issue a TDS certificate (Form 16 for salary and Form 16A for non-salary) to the deductee. This certificate provides details of the tax deducted and deposited on behalf of the deductee.
TDS Refund: If the tax deducted at source is more than the actual tax liability, the deductee can claim a refund by filing an income tax return. The Income Tax Department processes the refund after verifying the claim.
A TDS (Tax Deducted at Source) Certificate is a document issued by the deductor (the person or organization responsible for deducting tax at source) to the deductee (the person whose income is subject to tax deduction). The certificate provides details of the tax deducted and deposited on behalf of the deductee. It serves as proof that the appropriate TDS has been deducted and deposited with the government.
TDS Certificates are essential for the deductee to claim credit for the tax deducted at source while filing their income tax return. They can also be used as evidence in case of any discrepancies or issues with the tax authorities.
Comprehensive Support:
Our experienced team of tax professionals provides complete support in filing TDS returns for various types of deductions, ensuring compliance with the Income Tax Act and relevant rules.
Accurate Calculations:
We use advanced software tools to ensure accurate calculations of TDS liabilities, minimizing the risk of errors and penalties.
E-filing:
We offer a user-friendly e-filing platform, making it easy for you to submit your TDS returns electronically, saving time and reducing paperwork.
Timely Filing:
We help you adhere to the prescribed deadlines for filing your TDS returns, ensuring timely submission and avoiding late filing penalties.
Data Security & Confidentiality:
We take utmost care to protect your sensitive financial information with robust security measures and maintain complete confidentiality.
Post-filing Assistance:
Our support extends beyond filing your TDS returns. We provide assistance in case of any TDS-related notices, queries, or rectifications that may arise after the filing process.
Our TDS return filing services simplify the process for businesses and professionals, ensuring compliance with TDS regulations and minimizing the risk of errors and penalties.
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For filing TDS (Tax Deducted at Source) returns in India, various documents and details are required. Here’s a list of key documents required for TDS Return Filing Services:
TDS is a method of tax collection where the payer of income deducts tax at source before making a payment to the payee. The deducted amount is then deposited with the government on behalf of the payee.
Any individual or entity responsible for deducting TDS and depositing it with the government is required to file a TDS return, providing details of the deductions and the corresponding payments made.
The most common types of TDS returns include Form 24Q (for salary payments), Form 26Q (for non-salary payments to residents), and Form 27Q (for non-salary payments to non-residents).
TDS returns are filed quarterly, and the deadlines for filing are as follows:
Yes, you can file a revised TDS return if you discover any mistakes or omissions in your original return. There is no specific deadline for filing a revised return, but it is advisable to do so as soon as possible to avoid complications or penalties.
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