Why TDS Compliance is Crucial for Your Business

Managing TDS effectively is not just about following the law; it’s about maintaining the financial health and reputation of your business:

• Avoid Heavy Penalties: Late filing of TDS returns attracts a penalty of ₹200 per day under Section 234E. Non-deduction or late deposit can also lead to heavy interest charges and even prosecution.
• Smooth Credit for Deductees: When you file accurately, the tax deducted reflects in your vendors’ or employees’ Form 26AS, allowing them to claim tax credit easily.
• Business Expense Validation: If you fail to deduct TDS where applicable, the Income Tax Department may disallow that specific expense (30% or more), leading to a higher tax liability for your business.
• Credibility with Authorities: Consistent and timely TDS filing builds a “clean” track record with the tax department, reducing the chances of scrutiny or notices.

Our Specialized TDS Services

We offer a full suite of services to handle every aspect of the TDS lifecycle:

1. TAN Registration: If you are a new deductor, we help you obtain your Tax Deduction and Collection Account Number (TAN) quickly.
2. Monthly TDS Computation: We calculate the exact amount of tax to be deducted based on the nature of payment (Salary, Rent, Professional Fees, Commission, etc.) and applicable rates.
3. TDS Deposit (Challan Payment): Ensuring that the deducted tax is deposited with the government via the correct challans before the monthly deadline (7th of the following month).
4. Quarterly Return Filing: Preparation and filing of electronic returns (e-TDS) using appropriate forms:

• Form 24Q: For TDS on Salary payments.
• Form 26Q: For TDS on payments other than Salary (Rent, Professional fees, etc.).
• Form 27Q: For payments made to Non-Residents.

1. Issuance of TDS Certificates: We assist in downloading and providing Form 16 (for employees) and Form 16A (for others) from the TRACES portal.
2. TDS Defaults & Notice Resolution: If you have received a notice for short-payment or late filing, our experts help in Rectification and Correction filings.

Important TDS Return Due Dates

To help you stay ahead, here is the quarterly filing schedule:

Document Checklist for TDS Filing

To process your returns accurately, we generally require:

• TAN and PAN of the deductor (Business/Individual).
• PAN of the Deductees (Vendors/Employees).
• Payment Details: Invoice copies or salary sheets showing the date and amount.
• Challan Details: Proof of tax already deposited with the bank.

Why Samyuta Tax Consultancy?

• Precision-Driven Process: Our group of experts uses advanced validation tools to ensure there are no mismatches in PAN or Challan details, reducing the risk of notices.
• End-to-End Retainership: We offer monthly retainership models where we handle your entire payroll and TDS compliance, so you never miss a deadline.
• Notice Management: We have extensive experience in resolving TRACES defaults and handling communication with the TDS Commissionerate.
• Transparent & Digital: All your certificates and filing acknowledgments are stored digitally for easy access whenever you need them.