Taxation Services

TDS Serviecs

Taxation compliance which needs to be checked regularly can be divided into Direct and Indirect Tax
In Direct Tax – Tax Deduction on Source (TDS) is the focus area to look on.
There are various sections and rates for TDS as notified by government ranging between 1% to 30%
TAN or Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government whether individual/firm/company or any other setup. Tax deducted at source (TDS) ensures that the Government’s collection of tax is preponed helping government to monthly revenue and the responsibility for paying tax is diversified. The person deducting the tax at source is required to deposit the tax deducted to the credit of Central Government – quoting the TAN number at certain date which is 7th of next month except March , in case not able to do so than interest is charged.
Those entities have TAN Registration must then file TDS returns. TDS and TCS returns are due quarterly and need to be filed on time otherwise late filing charges are applicable