Get assistance for Online TDS Return Filing
Get assistance for online tds return filing of individuals, partnership firms, private limited company and LLP . Ourtaxpartner.com is a professional consultants practicing Kochi, Kerala having good experience in efiling Income tax & TDS Compliance . We here assist business to file quarterly returns of form 24 Q and form 26 Q. Not only file tds regular TDS Return but also helps to rectify or revise the TDS Return. Our pricing plans for TDS E - Filing starts from Rs. 750/-. We help business and individuals all over in the major and minor cities in India like Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Ahmadabad, Pune , Surat, Kochi etc to file quarterly tds return online. Form 24 Q is for Salaried TDS Return and Form 26 Q is for Non Salaried TDS Return like Rental Income, Professional Income, Contract Receipts, Interest Income, Commission etc.
We offer best price packages for TDS Return Online Filing
Tax Deducted at Source (E - File TDS)
Tax deducted at source (known as TDS) is a form of income tax deduction from the payments done by the Payer at source. The person who responsible to deduct tds is deductor and other is deductee. The concept of TDS was introduced with an aim to collect tax from the very source of income. As per the TDS concept, a person (called as deductor) who is liable to make payment of specified nature to any other person (called as deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of Form 26AS or TDS certificate issued by the deductor. The deductee can utilize this TDS credit against the income tax liability or get refund if the taxable income is nil.
The deductor is responsible to deduct tds from the payments at a prescribed rates notified by the CBDT. The tax so deducted has to be deposited in the government account. Deductor also has to report the tax deducted in a statement within the prescribed time.
It is mandatory to file an electronic TDS statement for the following categories of Deductors:
Offices of the Government
Persons required to get their accounts audited u/s 44AB of the Income Tax Act, 1961
Deductors reporting more than 20 deductee records for any quarter in the financial year
E- Filing Quarterly TDS Return Online
Every deductor who liable to deduct the TDS against their payments must efile a quarterly return as per the specified format by National Securities Depository Limited (NSDL). The process of allocating the deducted tds amount to the concerned PAN is called TDS Return known as Form 27 A. The TDS Return have two phases Form 24 Q (Salaried Persons) and Form 26 Q (Non - Salried Persons) . Both the forms have filed quarterly basis. Form 24Q deduction will come by any payments done by an employer to his employees as Employees benefits or perquisites. The payments in the nature of non salary like Rental, Interest, Commission, Contract receipts, Professional fees etc. are come under Form 26Q.
The due date for efiling the TDS Return are
First Quarter (April - June ) - 31st of July
Second Quarter (July - September ) - 3st of October
Third Quarter ( October - December - 31st of January
Fourth Quarter (January - March ) - 31st of May
E- Filing TDS Return Pricing Plans
Applicable to individuals, partnership firms, company & llp having number of deductions less than 30. Form 26Q Only, Quarterly Charges
Applicable to individuals, partnership firms, company & llp having number of deductions less than 25. Form 24Q, Quarterly Charges
Applicable to individuals, partnership firms, company & llp having number of deduction are more than plan 1 and 2. Applicable to Form 24Q & 26Q. Quarterly Charges.
What is tax deducted at source?
Can the payee request the payer not to deduct tax at source and to pay the amount without deduction of tax at source?
Can a member contribute at a higher rate (above 12%) on voluntary basis?
What are the consequences a deductor would face if he fails to deduct TDS or after deducting the same fails to deposit it to the Government’s account?
Under what circumstances a deductor would not be deemed as an assessee-in-default even after he fails to deduct TDS or after deducting the same fails to deposit it to the Government’s account?
has furnished his return of income under section 139;
has taken into account such sum for computing income in such return of income; and
has paid the tax due on the income declared by him in such return of income and the deductor furnishes a certificate to this effect in Form No.26A from a chartered accountant.
What to do if tax is deducted but the ultimate tax liability of the payee is nil or lower than the amount of TDS?
If the payer does not deduct tax at source, will the payee face any adverse consequences by means of action taken by the Income-tax Department?
What are the duties of the person deducting tax at source?
He shall obtain Tax Deduction Account Number and quote the same in all the documents pertaining to TDS.
He shall deduct the tax at source at the applicable rate.
He shall pay the tax deducted by him at source to the credit of the Government (by the due date specified in this regard*).
He shall file the periodic TDS statements, i.e., TDS return (by the due date specified in this regard*).
He shall issue the TDS certificate to the payee in respect of tax deducted by him (by the due date specified in this regard*)
What to do if the TDS credit is not reflected in Form 26AS?
I have not received TDS certificate from the deductor. Can I claim TDS in my return of income?
Yes, the tax credit in your case will be reflected in your Form 26AS and, hence, you can check Form 26AS and claim the credit of the tax accordingly. However, the claim of TDS to be made in your return of income should be strictly as per the TDS credit being reflected in Form 26AS. If there is any discrepancy in the tax actually deducted and the tax credit being reflected in Form 26AS then you should intimate the same to the deductor and should reconcile the difference. The credit granted by the Income-tax Department will be as per Form 26AS.
Is Ourtaxpartner.com efile TDS Return ?
Yes, Ourtaxpartner.com assist the business to efile quarterly TDS Return online. Here we are consultants providing tds return filing services to business and employers in all locations in India. Our tds filing services includes filing Form 24Q, Filing Form 26Q, Form 16 generation, Form 16A generation and file revised tds return. Revising tds return online is now simple at Ourtaxpartner.com.
Services provided by TRACES
TRACES ( TDS Reconciliation Analysis and Correction Enabling System) is a web-based portal of the Income Tax Department (ITD) that provides an interface to all stakeholders associated with TDS Return FIling, deduction and administration. It enables viewing of challan status, downloading of Conso File, Justification Report and Form 16 / 16A as well as viewing of annual tax credit statements (Form 26AS).
Various services provided by the TRACES includes.
Registration for tax-deductors and taxpayers
Electronic filing of TDS Statements (e -FIling of TDS Return) - Original and Corrections
View Statement Processing Status and TDS Defaults
View Tax Credit Statement (26AS) of taxpayers
Digital TDS Certificates - Forms 16/16A/16B in reconciliation with 26AS
Justification Report for details of TDS Defaults
Consolidated File for submitting corrections to the TDS Statements
Aggregated TDS Compliance Report for Tax-Deductor PAN with multiple associated TANs
Online TDS Statement Corrections
Online Challan Corrections
PAN Verification Services
Secured Integration with corporate Tax-deductors