TAX DEDUCTED AT SOURCE (TDS)

Importance of TDS

Tax Deducted at Source ( TDS) is concept was aim to collect tax from the very source of income. According to this concept to the TDS is amount of tax which should be deducted by a deductor (person) from the taxpayer (deductee) and that tax amount to be deposited to the Income Tax Department on behalf of his / him.

The rates specified of tax dedcution shall be  in the relevant provision of Act. If you are making any of the payment specified under the Income Tax Act, then TDS will be deducted at the time of these payments. No, TDS shall be deducted your books are not required to be audited. 

TDS / TCS Return

TDS/TCS
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Applicant

  • Individuals
  • Businesses (included Corporate)

Due Dates E-Filing

  • Quarter 1 - Period : 1st April to 30th June - Due Date : 31st July
  • Quarter 2 - Period : 1st July to 30th September - Due Date : 31st Oct
  • Quarter 3 - Period : 1st October to 31st December - Due Date : 31st January
  • Quarter 4 - Period : 1st January to 31st March - Due Date : 31st May

Due Date for Payment of Tax Deducted

  • The deductor of the tax is required to deposit the tax with the government by the 7th of the succeeding month. e.g:- TDS deducted in the month of June must be paid to the government by 7th July

Penalties

  • Penalties will be levied. Rates Specified in the relevant provision of Act

T&C

  • The amount of the service charges to be paid in advance ( 100%)
  • The Service timeline is estimated from the date of making payment
Schedule Filling

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