1. FORM 24Q This document needs to be completed in relation to a tax deduction on remuneration payment to employees. All employers in India are required to submit this report.
2. FORM 26Q This document should be completed to report tax deductions on transactions that are not related to salary payments, such as rent, professional fees, interest, dividends, payments to contractors, etc.
3. FORM 26QB The purpose of filing this form is to submit TDS returns for deductions on income from the sale of immovable property in India.
4. FORM 27Q The purpose of filing this specific type of report is to provide details of transactions involving foreign payments.
5. FORM 27EQ TCS Return is submitted for the purpose of tax collection at source on transactions like the sale of alcohol, tendu leaves, scrap sales, timber, etc.
6. FORM 27D This form is used to obtain the Tax Collected at Source (TCS) certificate. This certificate validates the return submitted in Document 27EQ.
1. To evade the penalty, undoubtedly, delayed submission of the TDS/TCS return would incur a substantial fine of INR 200 per day until the default persists.
2. To avert further penalties, apart from the minimum penalty of INR 200, the taxpayer who deducts taxes would also face additional penalties for failing to file the TDS return within one year from the specific date. These penalties range from INR 10,000 to INR 1 lakh.
3. To facilitate the reconciliation of the ITR, the primary objective of filing the TDS return is to align the actual income earned with the income declared in the income tax return.
4. To prevent the cancellation of the expenses, if the individual responsible for filing the TDS return fails to meet the deadline, the assessing officer has the option to neutralize the impact of the expenses for which TDS was required but not deducted. Consequently, the individual becomes liable for an additional tax burden.
5. Enhancing the completion of Form 26AS, Form 26AS is an annual consolidated tax statement that provides details of the taxes deducted throughout the year. Only if the entries are visible in Form 26AS can anyone claim TDS credit. If you deduct TDS from an individual but fail to file the TDS return, they may approach you at the last moment for the same
1. Submit the necessary information and paperwork for submitting TDS return on our online platform.
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5. Once you provide your approval, our professional will submit the TDS return electronically. #6. We will send you an Acknowledgement Receipt of the TDS return via email.
1. Details of deductee
2. TAN
