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TDS Return 4. ESI Return

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TDS Return

 

 

TDS Return

TDS Return stands for Tax Deducted at Source that means of collecting income tax in India, under the Indian Income Tax Act of 1961. Any company or person making a payment is required to deduct tax at source if the payment above the certain threshold limits. TDS Return has to be deducted at the rates fixed by the tax department. TDS Return is also known as Advance Tax.

Who is Deductor?

Deductor is a company or person that makes the payment after deducting TDS

Who is Deductee?

Deductee is a Company or person receiving the payment

What is TDS Return?

ADeductor has to deposit the TDS to the government and to be filed in the form of a TDS return. The particular nature of TDS deductions has to be filed using different TDS return forms. TDS filed a quarterly basis.

 

TDS Return is deducted on the following nature of payments:

  • Contractor.
  • Salaries.
  • Interest payments by banks.
  • Commission payments.
  • Rent payments.
  • Consultation Fees.
  • Professional Fees.

 

TDS Return Certificate

Types of forms:

  1. Form 16,
  2. Form 16A,
  3. Form 16 B, and
  4. Form 16 C

TDS certificates have to be compelled to be issued by someone deducting TDS Return to the assessee from whose financial gain TDS Return was subtracted whereas creating a payment.

Form 16 is issued by the employer to the employee.

Under Section 234 E, you’ll pay a fine of Rs. 200/- per day till your TDS Return is filed. You have to pay this for every day of delay until the fine amount is equal to the amount you are supposed to pay as TDS.

 The penalty for late filing of TDS Return:

If the taxpayer above a one-year time limit to file the TDS return or furnishes the wrong details of PAN No. , TDS amount, he/she will need to pay a penalty of maximum Rs. 10,000 to Rs. 1 lakh.

 

Registration Process

  • How eStartIndia can help you to furnish your TDS Compliances

    eStartIndia is the best business and legal services platform for services relating to filing of TDS returns,  offering a variety of Tax filing services like Income tax returns, PF, TDS, and ESI returns

    eStartIndia will help you to file your GST returns from the comfort of your home, offering you services that are very specialized and tailored for each individual.

    Get a Free Consultation with our Top rated Tax experts with a simple registration.

    Registration Process:

    • Document Preparation – eStartIndia Tax experts will collect necessary documents and information for the preparation of TDS returns.
    •  Return Preparation – eStartIndia will prepare your returns as per your documents and information provided by you.
    • For Approval – eStartIndia will send you prepared return for your approval.
    • TDS Return filing- After approval from your side, our tax experts file your TDS returns.

Step 1

Firstly, dully fill in the application, which is required to be submitted towards the exemption section of the Income Tax Department.

Step 2

Then the NGO would receive notice for clarifications from the Income Tax Department in 2-3 months after applying.

Step 3

Then a reply of notice is required to be submitted through the consultant along with each and every related and necessary document to the Income Tax Departments.

Step 4

The Consultant then would personally visit the Income Tax Departments to follow up the case on behalf of the applicant association.

Step 5

Then an Exemption Certificate then will be issued.

FAQs

You can apply for GST Registration online. For personal assistance, eStartIndia team can help you Click here.

 

Every supplier shall be liable to be registered under this Act from where he makes a taxable supply of goods or services or both if his aggregate turnover in a financial year exceeds twenty lakh rupees

For North region or Sikkim, the threshold limit is Ten Lakh rupees

No, a person without GST Registration neither Claim Input Tax credit and nor collect GST.

 

No, if a person is operating in different states, with the same PAN number, has to take separate registration for each state.

Yes, a Person having multiple Business verticals in a state may obtain a separate registration for each business vertical, subject to certain conditions.

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