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TDS Returns & Compliance in India
TAN registration, quarterly TDS return filing (24Q, 26Q, 27Q), Form 16/16A generation, and TDS reconciliation — complete TDS compliance handled end-to-end.
TDS Deductions We Manage
- Section 192 TDS on salary — monthly deduction, Form 16 generation at year end
- Section 194 TDS on dividend — 10% for resident shareholders
- Section 194A TDS on interest — banks, corporates, NBFCs — 10% for resident, 30% for NRI
- Section 194C TDS on contractor payments — 1% (individual/HUF) or 2% (others) above Rs. 30,000 / Rs. 1 lakh annual
- Section 194H TDS on commission and brokerage — 5%
- Section 194I TDS on rent — 2% (plant/machinery) or 10% (land/building) above Rs. 2.4L annual
- Section 194IB TDS on rent by individuals — 5% if rent exceeds Rs. 50,000/month
- Section 194IA Section 194IA TDS on property purchase — 1% if consideration above Rs. 50 lakh
- Section 194J TDS on professional/technical fees — 2% (technical) or 10% (professional/royalty) above Rs. 30,000
- Section 195 TDS on payments to non-residents — rate depends on nature of payment and applicable DTAA
TDS Returns We File
- Form 24Q Quarterly TDS return for salary payments (Section 192) — for all employers
- Form 26Q Quarterly TDS return for all payments other than salary — contractors, rent, professional fees, interest
- Form 27Q Quarterly TDS return for payments to non-residents — Section 195, 196A, 196B, etc.
- Form 27EQ Quarterly TCS return for Tax Collected at Source — car dealers, liquor dealers, etc.
TDS Due Dates
- Monthly TDS payment 7th of the following month (30th April for March month TDS)
- Q1 return (April–June) July 31
- Q2 return (July–September) October 31
- Q3 return (October–December) January 31
- Q4 return (January–March) May 31
- Form 16 issuance June 15 (to employees)
- Form 16A issuance 15 days from due date of TDS return
- Late filing fee Rs. 200/day under Section 234E — capped at TDS amount
Frequently Asked Questions
01What is the penalty for not deducting TDS?
If you fail to deduct TDS where required, the expense is disallowed under Section 40(a)(ia) — meaning you cannot claim the payment as a tax-deductible expense. Additionally, interest at 1% per month (from when TDS should have been deducted to when it is actually deducted) and penalties apply.
02 What is a Lower Deduction Certificate (Form 13)?
If your actual tax liability is lower than the TDS rate being deducted, you can apply for a Lower Deduction Certificate (Form 13) from the Income Tax Officer. Once issued, the payer must deduct TDS at the lower rate specified. We file Form 13 applications for clients with regular bulk receipts.
03Is TDS applicable on GST component of an invoice?
No — TDS under the Income Tax Act is not applicable on the GST component of an invoice. TDS is calculated only on the base amount (excluding GST). Ensure invoices clearly separate the base amount and GST.
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Contact Info
- +91 90150-53820
- info@aaaglobal.com