TDS Return Filing
TDS return filing is mandatorily required every quarter by all persons and entities who have deducted tax at source.
Introduction
TAN or Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government. Tax deducted at source (TDS) ensures that the Government’s collection of tax is proposed and the responsibility for paying tax is diversified. The person deducting the tax at source is required to deposit the tax deducted to the credit of Central Government – quoting the TAN number. Individuals who are salaried are not required to obtain TAN or deduct tax at source. However, a proprietorship business and other entities (i.e., Private Limited Company, LLP, etc.,) must deduct tax at source while making a certain payment like salary, payments to contractor or sub-contractors, payment of rent exceeding Rs.1,80,000 per year, etc.
Those entities have TAN Registration must then file TDS returns. TDS returns are due quarterly. Our TDS experts can help you compute your TDS payments and e file the TDS return and keep you in compliance with TDS regulations. Use reminded to know more about your due dates for TDS return filing due date and TDS payment due date.
Reasons to TDS Return Filing
PAN is a 10 character alpha-numeric code issued by the Income Tax Department for persons responsible for deducting or collecting tax at source. All most all for-profit entities and not-for-profit entities are required to obtain TAN.
TDS Payments
Tax Deducted at Source must be paid into an authorized bank, quoting the TAN and using Challan 281. TDS during the preceding month must be paid before the 7th day of the following month.
Proprietorship Require TAN
Salaried individuals are not required to deduct tax at source. However, individuals running a proprietorship are required to obtain TAN and deduct tax at source when required.
Validity
Once a TAN is issued, it is valid for a lifetime. However, TDS Filings must be made quarterly on the 15th day of July, October, January, and May. Non-filing of TDS filings within the due date will attract a penalty.
How we help with TDS Return Filing
Document Collection
Him Consultant’s TDS Expert will collect the necessary information and documents for preparation of TDS return for your business.
Return Preparation
Based on the documents and information presented, Him Consultant’s TDS expert will prepare your TDS return and send for your approval.
Return Filing
Once the TDS return is verified and approved by you, our TDS expert will file your TDS return with the Income Tax department.
File TDS Return
Fill up the form below and our executive will get in touch with you very shortly.
