TDS Return Filing

HOW TO FILE TDS

TDS Return

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.

Information Collection
Our agents will set up a seamless process for data collection

Return Preparation
Your return will be prepared as required

Return Filing
Before you know it, your return will be ready for filing.

File your TDS Return Online – An Overview

TDS return is a statement given to the IT department every quarter. It is essential for every deductor to deposit tax and file for TDS return on time.

Startup Clues assists and guides you on online TDS return in 3 easy steps:

Information Collection
Our agents will set up a seamless process for data collection
Return Preparation
Your return will be prepared as required
Return Filing
TDS Return for individuals and businesses

An employer or company that has valid TAN – Tax Collection and Deduction Account Number can file for 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:

Salary
Insurance commission
Income from winning horse races
Income by way of “Income on Securities”
Income by way of winning the lottery, puzzles, and others
Payment in respect of National Saving Scheme and many others
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:

Company
Persons whose accounts are audited u/s44AB
Persons holding an office under the Government

Benefits of TDS Return Filing

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

How we help in Filing TDS Return?
It is mandatory for every deductor to submit TDS return to the Income Tax Department of India in quarterly statements. Every detail of the returns has to be accurate and precise. Keeping up with the quarterly payments can be cumbersome and if not done on time, you may attract huge penalty.

The rate of TDS is set by the IT department based on expense recognized by them. Hence the prescribed rate of deduction varies. Keeping the threshold limit in mind while making payments can be tedious.

Once you choose us, our affiliates prepare the account and file TDS refund on your behalf. From the very first stage of preparing the returns till the last phase of refund, we act as your consultants. Startupclues not only does all the paperwork for you, but also makes sure that every government interaction is smooth. Our process is truly transparent and always meets your expectations.

We take care of:

Computing your TDS payments
e-filing the TDS return
Adherence to compliance with regulations

Things to remember before Filing TDS Return on time
For any person who has TDS reduction in their pay, TDS return can be filed online. Return preparation has to be done within the prescribed time frame because for individuals who are deemed as a regular defaulter in India, a grave penalty can be charged. Therefore submitting e-TDS Return in the prescribed time is essential.

For the deductor, it is vital to deposit the subtracted TDS to the concerned government department along with the details.

The time period within which the deductor should deposit the amount and the deductee has to file for TDS refund are given below
It is important to stick to the schedule to avoid incurring a penalty.

Due date for online TDS Return Submission
A TDS return has a time frame same as a tax payment. Though the return can be filed online, there is a due date for each quarterly submission.

The following documents have to be submitted for filing the TDS returns.

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
No. of transactions for filing TDS returns
Name of the entity – Proprietorship/ Partnership/ Company/ LLP

Why Startupclues?

15 WORKING DAYS

Just tell us a few details about your business and submit the documents and we’ll begin the process. Within 20 working days, you’ll be ready to operate as a private limited company – without leaving home

CUSTOMER SCORE

We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations

PROFESSIONALS STRONG TEAM

We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations

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