Tax deducted at Source (TDS) as the name suggests is a means of collecting taxes on income at source i.e at the time of payment or credit to the account of payee. All payments covered under the ambit of TDS shall be paid after deducting a prescribed percentage of tax (TDS).
TDS has to be deducted on payments such as rents, interest, contractual payments, commission or brokerage etc.
After deduction, TDS has to be deposited to the Govt. Account on a monthly basis.
TDS Returns in respect of deductions and payments of TDS are to be filed on a quarterly basis within the due dates prescribed under the Income Tax Act’1961.
After filing the TDS returns, TDS certificates have to be issued by the deductor to the deductee within 15 days of the due date for filing TDS Returns.
The penal provisions under the TDS Law are quite severe and non-compliance with these provisions can lead to severe penalties.
We help you with all your TDS compliances and save you from any kind of liability in the future. Our TDS experts guide you in all aspects of TDS with our whole range of professional services.
Contact us for all your TDS related consultancy.