PRACTICE DETAILS
- Lawyer Mr. Shaman Jain
- Skills Direct Taxation
- CATEGORY Direct Taxation, Tax Registrations & Filings
ABOUT THIS PRACTICE
To meet the compliance an individual who is responsible to deduct tax at source must file the TDS return. Tax deductor must submit a TDS return to the Income Tax department in accordance with every quarter. Details such as tax collected, source of collection and tax paid to Government for the reporting period are required in the TDS return statement.
Tax deduction is usually done on transactions like Salaries, payment to professionals and contractual basis, payment of rents etc exceeding specified amount. A rate of interest is already mentioned for all such transactions and payments. A tax payer can only get the benefit by claiming the tax deducted through ITR filing when the deductor has filed TDS return on time.
- TAN: The Tax Account Number of the deductor
- Tax Paid Receipt: Acknowledgement receipt of the tax paid to Government
- Details of tax deducted: Provide us details of the tax deducted
- Details of Supplies: Details of the inward and outward taxable supplies along with details of invoice
Depends on nature of income or type of deductee
- Form 24Q: TDS on Salary
- Form 27Q: TDS where deductee is a non-resident, foreign company
- Form 26QB: TDS on payment for transfer of certain immovable property
- Form 26Q: TDS in other case
- Quarter 1 April – June: July 31
- Quarter 2 July - September: October 31
- Quarter 3 October - December: January 31
- Quarter 4 January - March: May 31
