Tax Deducted at source is a part of Income Tax. It has to be deducted for certain payments made by a person. Tax Deducted at source is a part of Income Tax deducted at the time of making specified payments such as rent, professional fees, commission, salary, interest etc.
With the help of Tax Deducted at source the government makes sure that income tax is deducted in advance from the payments that are made by you. After reduction of TDS the recipient receives the net amount. The gross amount is added to his income by the recipient and the amount of TDS is adjusted in his final tax liability.
Filing Tax Deducted at Source returns is mandatory for all the people whose TDS has been deducted. We at AAA Techs provide with TDS return filling which is easy hassle free and spontaneous with the help of our experienced and skilled staff. We will collect necessary information which will be involved in Tax Deducted at Source return filing and will do the service on time which will be cost effective and will be at reasonable prices.
After applying Tax deducted at source certificate will be issued by a person deducting TDS from whose income TDS was deducted while making the transaction.
There are different types of TDS Certificates:
- TDS on Salary payment whose frequency is yearly and due date is on 31st May
- TDS on non-salary payment whose frequency is quarterly and due date is 15 days from the due date of filing return.
-TDS on sale of property whose frequency is on every transaction and due date is 15 days from due date of filing return.
- TDS on rent whose frequency is on every transaction as well and Due date is 15 days from due date of filing return.
Benefits of TDS return Filing are
- Filing TDS return helps the government to prevent people from evasion of taxes. The government keeps a track of TDS filled by an individual and if we delay in paying TDS there will be a penalty.
- Filing TDS will provide a steady flow of income to the government in the form of taxes. TDS is filed every moth by the people who got their taxes deducted. And also helps the government to keep a track on who have paid the taxes.
- If we pay TDS on time the burden of Tax collection agencies is lessen.
- The tax is deducted automatically so that it is convenient for the deductee.
The details required to file TDS returns are:
- PAN of the deductor and the deductee
- Amount of tax paid to the government
- TDS challan information