TDS Compliances

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Timely TDS Compliances avoids potential legal issues and hefty penalties. Additionally, it helps businesses build credibility with vendors and employees, as it helps them to file their Income Tax Returns within deadlines and be tension free. It is advisable to seek professional advice or consult tax experts for accurate interpretation and implementation of TDS provisions. We provide the following services under TDS Compliances:

  • TAN (Tax Deduction and Collection Account Number) Compliance: Obtaining a valid TAN from the income tax department and quoting it correctly in all TDS-related documents, returns, and correspondence.
  • TDS Computation: Computing tax to be deducted at the prescribed rates from various payments such as salaries, interest, rent, professional fees, contractor payments, etc., as per the provisions of the Income Tax Act.
  • TDS Payment: Reminder for depositing the deducted TDS amount to the government within the specified due dates, drafting the appropriate challan to guide for making payment.
  • TDS Return Filing: Filing TDS returns on a quarterly basis, providing details of TDS deductions made.
  • TDS Certificate Issuance: Issuing TDS certificates to the deductees (e.g., employees, vendors, contractors, etc.) within the specified timeframes, reflecting the details of tax deductions made during the relevant period.
  • TDS Compliance Documentation: Maintaining accurate records and documentation of TDS deductions, payments, returns, certificates, and related correspondence, as they may be required for audit or scrutiny purposes.
  • TDS Compliance Verification: Regularly reconciling TDS deductions with TDS payments, ensuring the accuracy and correctness of TDS calculations, and rectifying any discrepancies, if identified.
  • TDS Compliance Communication: Responding to notices, inquiries, or demands for information from tax authorities regarding TDS deductions, payments, or filings, providing accurate and complete details as required.
  • TDS Compliance Updates: Staying updated with changes in TDS rates, thresholds, forms, and procedures, and ensuring timely compliance with new requirements or amendments introduced by the income tax department.
  • TDS Compliance Audits: Being prepared for TDS audits conducted by tax authorities to review compliance with TDS provisions, maintaining necessary records and supporting documents, and cooperating during the audit process.
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