Tax Deducted at Source (TDS)

As per Indian Income Tax Act, there are listed particular payments against which tax needs to be deducted (at specified rates) at the time of payment or at the time of accrual. This is referred to as Tax Deducted at Source (TDS).  The main aim of TDS is to bring more people under tax purview. It is collected as a way to stabilize the revenue source for the government throughout the whole year and helps prevent tax evasion.

Types of TDS

  1. TDS on Salary to be deducted by employer (Section 192)
  2. TDS on payments for professional services (Section 194J) and payments to contractors (Section 194 C)
  3. TDS on Sale of Property to be deducted by buyer(Section 194IA) (Form 26QB) 

TDS Services Offered

We help with the various compliance activities related to TDS including the below:

  1. Advise on TDS applicability
  2. Application for TAN
  3. Deduction and Deposit of TDS (TDS Challan)
  4. TDS Revisions/ Corrections
  5. TDS Reconciliations
  6. Quarterly and Annual TDS Returns
  7. Issue of TDS Certificate to Deductees (Form 16A and Form 16)

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