TDS Return
With advice of Taxlad.in TDS Filing Expert You will be assured with Timely and Accurate TDS Return Filing.
Tax deducted at source (TDS), objectives at collection of revenue on the very source of profits. It is largely an indirect approach of collecting tax, which mixes the concepts of "pay as you earn" and "collect as it's far being earned". Its importance to the authorities lies withinside the truth that it propones the gathering of tax, ensures a regular supply of sales, gives for a extra reach and wider base for tax. At the identical time, to the taxpayer, it distributes the incidence of tax and gives for a easy and convenient mode of payment.
The deducted sum is needed to be deposited to the credit of the Central Government quoting the TAN number. The recipient from whose income tax has been deducted at supply receives the credit score of the quantity deducted in his private evaluation on the idea of the certificates issued by the deductor.
Those entities that have TAN Registration have to report TDS returns. TDS returns are due quarterly, info to be supplied in those returns include fields like TAN No., TDS Payment, amount deducted, sort of payment, PAN No. etc. Taxlad.in can help you e-file your TDS returns online.
With advice of Taxlad.in TDS Filing Expert You will be assured with Timely and Accurate TDS Return Filing.
Taxlad.in TDS Filing Expert Will let You know the required documents Which you can easily mail to us anytime.
Based on the documents and information presented, an Taxlad.in TDS Filing Expert will prepare your TDS Return and send for your approval.
Once the TDS Return is verified and approved by you, our TDS Filing expert will file your TDS Return.
TAN is Tax Deduction and Collection Number. TAN is used by the Income Tax Department to track all payments and filings of persons or entities required to deduct tax at source and pay it to the Government. TAN is a 10 digit alpha-numeric number.
Individuals who are salaried are not required to deduct tax at source. However, Individuals who run a proprietorship business are required to deduct tax at source. All other entities like LLP, Private Limited Company, Limited Company, Trust, Society, etc., are required to obtain TAN and deduct tax at source. Not obtaining TAN when applicable attracts a penalty of Rs.10, 000.
All those persons who are required to deduct tax at source (TDS) are required to obtain TAN number. Entities having TAN number must e-file TDS returns.
Delay in furnishing the e -TDS statement will result in a mandatory fees of Rs. 200 per day, the total fees should not exceed the total amount of TDS made for the quarter. The penalty for non-filing of TDS return for more than one year from the specified date is a minimum Rs 10,000 to Rs 1 lakh.
Yes, failure to remit TDS in the government’s account within stipulated time-limit would attract interest, penalty and rigorous imprisonment of upto seven years.
In such a case, the payee can claim the refund of entire/excess amount of TDS (as the case may be) by filing the return of income.
Yes, the tax credit in your case will be reflected in your Form 26AS and hence, you can check Form 26AS and claim the credit of the tax accordingly. However, the claim of TDS to be made in your return of income should be strictly as per the TDS credit being reflected in Form 26AS. If there is any discrepancy in the tax actually deducted and the tax credit being reflected in Form 26AS then you should intimate the same to the deductor and should reconcile the difference. The credit granted by the Income-tax Department will be as per Form 26AS.
It is the duty and responsibility of the payer to deduct tax at source. If the payer fails to deduct tax at source, then the payee will not have to face many adverse consequences. However, in such a case, the payee will have to discharge his tax liability. Thus, failure of the payer to deduct tax at source will not relieve the payee from payment of tax on his income.
| Quarter | Due Date for TDS Return |
| April to June | 31st July |
| July to Sept | 30th Oct |
| Oct to Dec | 31st Jan |
| Jan to March | 30th May |
At Taxlad.in we ensure complete transparency at every step of the business incorporation process.We specialise in excellent customer service. When you call, email with our offices, you will receive personal attention from a knowledgeable specialist happy to help you .Our team of business startup specialists are here to keep you updated on the latest incorporation, tax and financial strategies and to help you manage important business details.
Taxlad.in provides fast and end-to-end Business Incorporation and associated services. We also provide Accounting, Taxation and Legal Services. We guarantee hassle-free service delivery in the shortest possible time without compromising on quality.
Our team of experienced professionals assists entrepreneurs in selecting the best business structure suiting individual requirements, and to convert their dream business into appropriate corporate entities.