Simplify TDS compliance
with oustartupindia.com
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Introduction
A person who is liable to deduct tax at the source has to file the TDS return as part of compliance. A TDS return is submitted by Tax Deduction in respect of every quarter with the Income Tax Department. The return is a statement that entails the details of the tax collected, source of collection, and tax paid to the Government for the reporting period.
Generally, tax is deducted on transactions such as Salaries, payment to professionals and contractual basis, payment of rents exceeding a certain amount, etc. For every such type of transaction and payment, there is a prescribed rate of interest. The deductee can claim the benefit of the tax deducted while ITR filing, only if the deductor has filed the TDS return on time.
Advantages of TDS Return filing
Prevent tax evasion
TDS Return filing helps people to prevent tax evasions.
Widens the tax collection base
As TDS deductions take place throughout the financial year, it’s an effective mode to widen the tax collection base to the government
Other Services
Trademark Registration
Rs.5,999/-
Brand Copyright
Rs.3,999/-
FSSAI Registration
Rs.3,999/-
FSSAI License
Rs.6,999/-
Business Plan
Rs.39,999/-
Financial Projection
Rs.29,999/-
GST Registration
Rs.1,999/-
ISO Registration
Rs.7,999/-
Terms and Conditions
Rs.8,999/-
ESOP Process Flow
1-2 HOURS
2-3 WORKING DAYS
3-4 WORKING DAYS
7-8 WORKING DAYS
Select Package
At Our Startup India, we offer a range of packages to suit your needs. Start by selecting the appropriate one, fill out the required forms, or simply speak to our experts online for assistance.
Obtain Information and Documentation
Our Startup India professionals will collect the information from the details shared by the taxpayer manually and will do documentation and reconciliation of the information filed.
Preparation of TDS return
Our Startup India professionals will prepare for the TDS return process and will fill the online TDS return form.
Acknowledgment of Filing the return
Our Startup India will provide you the acknowledgment receipt of the successful filing of TDS Returns.
Documents Required
Pre-requisites
- Title of the invention
- TAN details
- PAN details
- Last TDS filing details, if applicable
- The period for which TDS has to be filed
- Date of incorporation of the business
- No. of transactions for filing TDS returns
- Name of the entity – Proprietorship/ Partnership/ Company/ LLP
Simple & Transparent Pricing
Basic Package
Save upto-10% cost on this package
7,999
(inclusive All)
- Name Search Report
- Name approval in RUN (Reserve Your Unique Name)
- DSC(2no) (Extra Dsc Per Director – Rs-1000)
- Filing Spice Form
- Issue of Incorporation certificate along with PAN & TAN
- Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
- Msme Registration
- Share Certificate (Soft Copy)
Growth Package
Save upto-20% cost on this package
9,999
(inclusive All)
- Name Search Report
- Name approval in RUN (Reserve Your Unique Name)
- DSC(2no) (Extra Dsc Per Director – Rs-1000)
- Filing Spice Form
- Issue of Incorporation certificate along with PAN & TAN
- Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
- Msme Registration
- Share Certificate (Soft Copy)
- GST Registration
- Stamp and Company Seal
- Bank – Current Account Opening
- 10% Discount on Future Service
Premium
Save upto-30% cost on this package
16,999
(inclusive All)
- Name Search Report
- Name approval in RUN (Reserve Your Unique Name)
- DSC(2no) (Extra Dsc Per Director – Rs-1000)
- Filing Spice Form
- Issue of Incorporation certificate along with PAN & TAN
- Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
- Msme Registration
- Share Certificate (Soft Copy)
- GST Registration
- Trademark Registration
- 1month free GST filing
- NDA
- Guideline for Startup India Registration.
- Stamp and Company Seal
- Bank – Current Account Opening
- 10% Discount on Future Service
FAQ's on TDS return filing
Any assessee deducting tax from a source must file the TDS return. Unless one has deducted tax, a requirement to file a TDS return does not arise.
As the name says, TDS is collected on source of income and therefore the frequency of collection is as frequent as the transactions are. This makes track of deduction difficult. Therefore, a certificate on the letterhead of the deductor is issued to deductee for the TDS payment. Individuals are advised to request for TDS certificate wherever applicable, if not already provided.
The taxpayer failed to file TDS return before due date has to pay ₹ 200 per day of delay in filing as an additional fee. Apart from an additional fee, the penalty can be levied u/s 271H of Income Tax Act. The minimum penalty prescribed is ₹ 10,000 which may extend to One Lakh Rupees.
Tax Deducted at Source (TDS) must be deposited through banks using Challan 281 quoting the TAN number of the entity. The deadline for payment of TDS is the 7th day of each month.
Yes. It is mandatory for deductors and employees to submit their PAN as well.
While paying TDS, e – payment is the compulsory process.
The following are the basic duties of any individual who is liable to deduct tax at source. • He shall obtain the 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 the 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*). *Refer tax calendar for the due dates.
TAN is an alphanumeric 10-digit number required by a person who is liable to deduct TDS and file TDS return. Thus such a person must make an application within a month of deducting TDS for allotment of Tax Deduction and Collection Number (TAN) in Form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans, etc. If a person fails to apply for TAN he may be penalized up to Rs. 10,000/-
It is a document that serves as an annexure to the intimation to be sent to the deductor. Intimation will be sent to the deductor through mail/post but a justification report will have to be downloaded from the portal.