Frequently asked questions
What is the due date for TDS Return?
1. April to June - 31st July
2. July to September - 31st October
3. October to December - 31st January 2017
4. January to March - 31st May 20
Who will be responsible in case there is a default in tax deduction?
The Deductor will be liable, and interest will also be levied on the due amount as per the Income Tax Act, 1961. The responsibility for a tax deduction and payment lies with the deductor only.
What is the interest on non deduction or delay in depositing of TDS?
1. If TDS has not been deducted
Interest @1% for every month or part of month from the date on which it was deductible to the date on which it was actually deducted.
2. If TDS was deducted but not deposited timel
Interest @1.5% for every month or part of month from the date on which it was deducted to the date on which such tax was remitted to the government for payment.
What are the duties of the person deducting tax at source?
Following are the basic duties of the person who is liable to deduct tax at source:
• Obtain Tax Deduction Account Number and quote the same in all the documents pertaining to TDS.
• Deduct the tax at source at the applicable rate.
• Pay the tax deducted by him at source to the credit of the Government (by the due date specified in this regard*).
• File the periodic TDS statements, i.e., TDS return (by the due date specified in this regard*).
• Issue the TDS certificate to the payee in respect of tax deducted by him (by the due date specified in this regard*).
*Refer tax calendar for the due dates.
What is TDS Certificate?
TDS certificate is issued by deductor to deductee. They are of two types:
Form 16: Issued by employer for TDS deducted on salaries
Form 16A: Issued in all other cases.
What is form 26AS?
Form 26AS is a statement that reflects the credit of all types of TDS deducted for a particular person,
It can be obtained at the traces site or through login to your income tax e-filing account.
Yearly TDS Compliances (Form 24Q)
Buy this plan to get TDS returns i.e Salary (24Q) for your business filed by our experts for the whole year.
TDS deducted on what type of Payments?Some of the types of payments are:- Interest on securities
- Contractors payments
- Brokerage or Commission
- Rent
- Royalty, Director Remuneration, Professional or technical service fees, Non-compete fees
- Salaried paid to employees
- Filing of TDS return for salaries (For 24Q) ( 4 returns for the year i.e. 1 return each quarter)
- Filing of TDS return for payments other than salaries (For 26Q) ( 4 returns for the year i.e. 1 return each quarter)
- Generation of Form 16
- Generation of Form 16A
- Persons such as company, HUF, Partnership Firms, individual liable for audit u/s 44AB etc making payments like commssion, interes paid, rent paid, payment to contractors etc and required to deduct TDS and required to file TDS return.
- PAN Number
- Tax payment challans (Self assessment tax, advance tax) if you have deposited the same
- Form 16 issued by the employer
- TDS certificates (if TDS has been deducted by other)
- All Bank account information
- Any other detail as required
| Plan Charges | 6999 |
| Goods & Services Tax (GST) | 1260 |
| Total Cost | 8259 |
* Estimate Time for Service Completion
365 Days
What is the due date for TDS Return?
1. April to June - 31st July
2. July to September - 31st October
3. October to December - 31st January 2017
4. January to March - 31st May 20
Who will be responsible in case there is a default in tax deduction?
The Deductor will be liable, and interest will also be levied on the due amount as per the Income Tax Act, 1961. The responsibility for a tax deduction and payment lies with the deductor only.
What is the interest on non deduction or delay in depositing of TDS?
1. If TDS has not been deducted
Interest @1% for every month or part of month from the date on which it was deductible to the date on which it was actually deducted.
2. If TDS was deducted but not deposited timel
Interest @1.5% for every month or part of month from the date on which it was deducted to the date on which such tax was remitted to the government for payment.
What are the duties of the person deducting tax at source?
Following are the basic duties of the person who is liable to deduct tax at source:
• Obtain Tax Deduction Account Number and quote the same in all the documents pertaining to TDS.
• Deduct the tax at source at the applicable rate.
• Pay the tax deducted by him at source to the credit of the Government (by the due date specified in this regard*).
• File the periodic TDS statements, i.e., TDS return (by the due date specified in this regard*).
• Issue the TDS certificate to the payee in respect of tax deducted by him (by the due date specified in this regard*).
*Refer tax calendar for the due dates.
What is TDS Certificate?
TDS certificate is issued by deductor to deductee. They are of two types:
Form 16: Issued by employer for TDS deducted on salaries
Form 16A: Issued in all other cases.
What is form 26AS?
Form 26AS is a statement that reflects the credit of all types of TDS deducted for a particular person,
It can be obtained at the traces site or through login to your income tax e-filing account.