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TDS Return Filing with India Company Setup
Tax Deducted at Source (TDS) is a method of collecting tax at the very point of income generation. Individuals and entities responsible for deducting TDS are legally required to file TDS returns on a quarterly basis, detailing the specifics of these deductions within the prescribed due dates. Navigating the complexities of TDS compliance, from online TDS deposit to accurate return filing, can be overwhelming.
India Company Setup offers expert support to simplify your TDS return filing process. Our experienced team ensures that your returns are filed accurately and in a timely manner, guiding you through every step of the compliance journey with ease.
Let India Company Setup Handle Your TDS Compliance — Accurate Filing, On Time!
What is TDS (Tax Deducted at Source)?
TDS is a system in which tax is deducted by the payer (known as the deductor) at the time of making certain payments to the payee (deductee). These payments may include salary, rent, interest, professional fees, commissions, etc.
Instead of waiting for the recipient to pay income tax, the tax is collected in advance from the source of income. The deducted amount is then deposited with the government, and the deductee receives the net payment. The recipient must report the gross amount (before TDS) when filing their income tax return.
Once the TDS is deducted and deposited, it is essential to file the TDS return online in accordance with the applicable regulations.
Who is Required to Deduct TDS?
TDS must be deducted by:
• Individuals
• Hindu Undivided Families (HUFs)
• Firms
• Companies
• Other legal entities
This is applicable based on specific conditions such as turnover thresholds and the nature of the payment. Entities that are liable must register as TDS deductors and comply with TDS filing requirements.
TDS Deposit
TDS deducted must be deposited with the government within the prescribed due dates. Timely deposit is crucial to remain compliant and avoid penalties. After depositing the TDS, filing the TDS return online becomes the next mandatory step.
TDS Due Dates
• By the 7th of the following month for most deductions.
• For TDS deducted in March, the due date is generally April 30, except in some government-related cases where it could be March 31.
Common Transactions Attracting TDS
TDS applies to payments such as:
• Salaries
• Rent
• Contractor or sub-contractor fees
• Professional/technical fees
• Commission or brokerage
• Interest (excluding securities)
TDS Threshold Limits
Make sure your business activities comply with the latest TDS thresholds. Key thresholds under current provisions include:
• Rent (Section 194I): TDS applies if annual rent exceeds ₹2,40,000
• Contractors (Section 194C): TDS applies if a single payment exceeds ₹30,000 or total yearly payments exceed ₹1,00,000
• Professional Fees (Section 194J): TDS if yearly payment exceeds ₹30,000
• Interest (Section 194A): TDS if annual interest exceeds ₹40,000 (₹50,000 for senior citizens)
• Salary (Section 192): TDS applicable if the employee’s taxable salary exceeds the basic exemption limit
TDS Rates & Key Provisions
TDS rates vary based on the type of income—salaries, professional fees, commissions, rent, interest, etc. The applicable rate is determined by both the nature of the payment and the amount involved. Keep in mind that these rates are subject to periodic revision by the government.
Need Help with TDS Return Filing?
India Company Setup provides end-to-end support for your TDS compliance—from deductor registration and online deposit of TDS, to accurate and timely TDS return filing. We simplify the entire process so you can focus on running your business, while we ensure you stay fully compliant with tax regulations.
What We Offer
At India Company Setup, we deliver a complete suite of business services to help you start, grow, and manage your company with ease. From registration to regulatory compliance, our expert support ensures your business stays legally sound and financially organized.
Daily & Monthly Bookkeeping
- Record all financial transactions.
- Maintain audit-ready books in sync with GST and Income Tax laws
- Stay prepared for MCA and statutory filings
Financial Reporting
- Preparation of Profit & Loss Statements and Balance Sheets
- Generate detailed balance sheets.
- Deliver cash flow statements.
Reconciliation Services
- Bank and credit card reconciliations.
- Ensure accuracy of all financial data.
- Maintain accuracy for timely Income Tax and MCA submissions
Secure Digital Bookkeeping
- Utilize encrypted software for data security.
- Anytime, anywhere access to your business data
- Aligned with India's data protection and compliance standards
Benefits of Our Bookkeeping Services
1. Accurate Financial Records
Our expert bookkeeping ensures every transaction is correctly recorded, reducing compliance errors and giving you a clear picture of your company’s financial health — crucial for GST, Income Tax, and MCA filings.
2. Time-Saving
Focus on growing your business while we manage your books. By outsourcing to us, you eliminate the burden of paperwork, reconciliations, and regulatory upkeep — saving you both time and effort.
3. Better Cash Flow Management
We help you monitor income and expenses in real time, so you maintain a healthy cash position, make informed decisions, and avoid last-minute cash crunches or missed tax deadlines.
TDS (Tax Deducted at Source) Filing refers to the quarterly submission of TDS returns by the deductor (employer, company, or individual) to the Income Tax Department. It ensures that tax deducted from payments (like salary, interest, contractor fees, rent, etc.) is properly reported and deposited. Timely filing allows the deductees to claim TDS credits in their ITR.
TDS returns must be filed by:
Employers deducting tax from salaries
Businesses or individuals deducting TDS on payments above prescribed thresholds
Government deductors
Basically, anyone who has obtained a TAN and deducted TDS is required to file TDS returns.
TDS returns must be filed quarterly using the appropriate Form 24Q, 26Q, 27Q, or 27EQ.
Here are the due dates:
Q1 (Apr–Jun): 31st July
Q2 (Jul–Sep): 31st October
Q3 (Oct–Dec): 31st January
Q4 (Jan–Mar): 31st May
Form 24Q: TDS on salary payments
Form 26Q: TDS on non-salary payments (e.g., rent, contractor, commission)
Form 27Q: TDS on payments to non-resident individuals or foreign companies
Form 27EQ: TCS return for tax collected at source
Late filing fee: ₹200 per day (Section 234E) until the return is filed (max up to the TDS amount)
Penalty: ₹10,000 to ₹1,00,000 under Section 271H for failure to file or filing incorrect returns
Interest: 1% to 1.5% per month for delay in TDS deduction or payment
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