TDS Return for individuals and businesses
As per the Income Tax Act, any company or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. Usually, tax deductions are made within a range of 1 % – 10 %.
An employer or company that has valid TAN – Tax Collection and Deduction Account Number can file for online TDS return. Any individual or business who makes a particular payment which is stated under the I-T Act needs to deduct tax at source. The deposit for the same has to be made within the stipulated time. The payment categories include:
An assessee can submit an e-TDS return if the same was deducted from their income. As mentioned earlier, it is the obligation of the assessee to file within the due date or be liable to pay a penalty for delay. The categories of assessees eligible to electronically file TDS return every quarter are:
Advantages
Documents Required
As per the IT Act of 1961 filing TDS return is mandatory as well as it fetches some benefits to person or company. A few advantages of submitting a return and knowing the refund status are:
- A steady inflow of income to the government.
- Facilitates a smooth collection of taxes used for welfare.
- No burden of paying tax lump sum as the payment is done every three months for the whole year
- TAN details
- PAN details
- Last TDS filing details, if applicable
- The period for which TDS has to be filed
- Date of incorporation of the business
- of transactions for filing TDS returns
- Name of the entity – Proprietorship/ Partnership/ Company/ LLP
We provide TDS returns, TDS return filing services in Surat.
Contact
- 301, Laxmi Enclave, Opp. Gajera School, Katargam, Surat – 395004
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(+91) 99138 29833
(+91) 81418 16833 - [email protected]