TDS return filing in Chennai

TDS return filing in Chennai for TDS deduction on sale of property, contract payments, payment to professionals etc.

Service information ?

  1. Filing of TDS return for 1 quarter for entries up to 10 in TDS return.

Details required for TDS return filing

  1. If payment for TDS is made, details of such payment challan.
  2. Details of persons for whom payment is TDS is deducted.
  3. Nature of payment, rate at which TDS is deducted.
  4. PAN and TAN details of deductor.
  5. PAN details of person for whom TDS is deducted.
  6. Details of previous filed TDS return acknowledgement.
  7. Business address, contact details, of the deductor.

Connect with Us!

    What is Tax deducted at source (TDS)?

    TDS is a method of collection of income tax in the same year of earning the income, it is the duty of the person making the payment to deduct TDS from the amount of payment at the rate prescribed under the income tax act. TDS deducted and paid into the credit of pan number will be reflected in Form 26as of the person receiving the payment once TDS return filing done by the deductor, TDS certificate will also be issued by the deductor. At the end of the financial year, the TDS amount will be used to pay tax liability for the financial year, or else a refund can be claimed in case the tax liability is less than TDS deducted.


    Steps to Register


    Basic details from the client will be collected for validating the right section under which TDS is deducted.


    Calculation of any short deduction, excess deduction, interest for late deduction of TDS, and late payment of TDS.

    Preparation of TDS return

    TDS return for salaries is prepared in form 24Q for salary, in form 26Q for other than salary, and in form 27Q for any payments to non-residents. FUV file is generated for TDS filing

    Filing for TDS returns

    FUV file generated along with the signed TDS summary sheet is filed with the TIN facilitation centre, Once the FUV file is uploaded by TIN facilitation centre Acknowledgment will be provided.

    Generation of from 16 and 16A

    After TDS returns are filed once data is populated in the TRACES portal, the TDS certificate in forms 16 and 16A can be deducted by submitting relevant details of the TDS deduction.

    From Auditor DESK

    TDS deduction is mandatory for all partnership firms and private limited companies, irrespective of the turnover. It is recommended to have a track of total payments to contractors, and other suppliers of services for determination of TDS deduction on payment to them.

    Frequently Asked Questions

    We make it easy for you to find the answer to frequently asked questions here...
    Surcharge and educational cess shall not be added to TDS calculated at the rate provided in the income tax act. Only in the case of salary payment surcharge and educational cess shall be added.
    The person responsible to deduct TDS shall obtain from the employee the evidence, particulars, and details of deductions claimed, and loss required to be setoff. For convenience and simplicity, we insist on obtaining signed declaration regarding the deductions and other details from the employees 
    Person responsible to deduct TDS on salary income shall issue form 16 or before the 15th of June of the immediately following financial year. In any other case certificate deduction of TDS shall be issued in form 16A on or before the 15th of August, 15th of Nov, 15th of February, and 15th of June for the respective quarter ending.
    On application to the assessing officer for a certificate for lower or no deduction of TDS, if the assessing officer is satisfied that lower or no deduction is justified considering the total income of the assessee, an appropriate certificate may be issued.
    TDS returns shall be filed within the 31st of July for 1st quarter, 31st of October of the second quarter, 31st January for the third quarter, and 31st may for 4 th quarter,
    For each day of delay, Rs.200 is calculated as a penalty subject to the maximum TDS amount paid through the return.
    Interest at 1 % will be calculated on the late deduction of TDS for each month of delay and part thereof,  in case of late payment of TDS after deduction interest @ 1.5 % will be calculated for each month and part thereof.