What is TDS (Tax Deduction at Source) ?

The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of Form 26AS or TDS certificate issued by the deductor. TDS is based on the concept of ‘Pay as you earn’. To provide the benefit of tax deducted to the person receiving the payment, it is mandatory to file a TDS return by the deductor.

Documents Required for TDS Return

  • Documents Required for GST Registration

    Documents Required

    • PAN Card/Pan Number
    • Tax Payment Challans (if you have deposited the same)
    • TDS Certificate (if TDS has been deducted by other)

Process for filing TDS/TCS Return

  • Step 1

    Provide us with all the scanned copy of all the requisite Documents online by mail

  • Step 2

    We will check the whether all the documents are complete as required and inform you if any discrepancy

  • Step 3

    Our expert will calculate TDS liability and deposit the same(if not calculated and deposited by you)

  • Step 4

    Our expert will file your return and will mail you TDS certificates.

Our Prices

TDS Return

Nil Return

499 .00

Inclusive of all taxes

Less than 5 Lakhs

999 .00

Inclusive of all taxes

Less tha 5 Lakhs

Annual Package (4 Return)

3499 .00

Inclusive of all taxes

Frequently Asked Questions

Due dates of submission of quarterly TDS Return is 31st July for Q1, 31st October for Q2, 31st January for Q3, and 31st May for last quarter.

Bank Challan Number is a receipt number given by the bank branch where TDS is deposited. A separate receipt number is given for each challan deposited. You are required to mention this challan number in the e-TDS/TCS return.

No. A single Form No. 26Q with separate annexures corresponding to each challan payment for each type of payment has to be filed for all payments made to residents.

TDS is applicable on sale of immovable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,000 (Rupees Fifty Lakhs). Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax @ 1% should be deducted by the purchaser of the property at the time of making payment of sale consideration.

The Finance Act, 2017 has introduced section 194-IB providing that Tenant of a property making monthly rent payment exceeding ₹ 50, 000 is required to deduct tax at the rate of 5% from the rent payable to a resident landlord.

Tenant or Payer of the rent on property is not required to procure Tax Deduction Account Number (TAN). The Tenant is required to quote his or her PAN and PAN of the landlord.