TDS - TCS RETURNS

Tds/tcs return filling is legal requirement in India as per income tax act 1961any person making specified payments mentioned under the income tax act are required to deduct tds at the time of making such specified payment. But no tds has to deducted if the person making the payment is an individual or huf whose books are not required to be audited.

TDS/TCS return filling is legal requirement in India as per Income tax Act 1961

Any person making specified payments mentioned under the Income Tax Act are required to deduct TDS at the time of making such specified payment. But no TDS has to deducted if the person making the payment is an individual or HUF whose books are not required to be audited.

A delay in filing the returns attracts interest and penalty levied by the Tax Department, hence, it is important to pay TDS within due date and subsequent return filing is equally important.

Document Required

Copy of TDS Challans Deposited

 

PAN of Deductees

 

Amount of TDS Deducted and date of deduction

 

Exemption Certificates if TDS is not deducted on any payments

 

Nature of expense for which TDS is deducted

 

Process Involved

1

DOCUMENTS

Receipt of the required documents

2

PREPARATION OF TDS RETURNS

Based on the data received, our expert will prepare TDS returns

3

VERIFICATION OF DATA

Prepared returns is verified with the challan and deductee details provided by the client.

4

SUBMISSION OF RETURN

After verification, TDS returns will be submitted to NSDL.

5

DOWNLOADING TDS CERTIFICATE

After successful filling and processing TDS certificate will be downloaded from TRACES website.

Package Includes

Form26Q or 24Q or 27Q or 27EQ

 

Registration on TRACES

 

Bulk PAN Verification

 

Challan Verification

 

Online FVU Generation and Submission

 

Generation of Form 16A

 

Frequently Asked Questions

Every deductor is required to submit a quarterly statement of details of tax deducted at source in the forms prescribed by the government. This quarterly statement is called a TDS Return. TDS Returns include details of PAN of all deductors and deductees, particulars of tax paid to the government, TDS challan information and other particulars as required in the forms.
For the quarter ending 30th June - 15th July / For the quarter ending 30th September - 15th October / For the quarter ending 31st December - 15th January / For the quarter ending 31st March - 15th May
According to Section 194-IA, if you are buying immovable property (other than agricultural land) worth more than Rs 50lakh, you have to pay TDS.