Services

Tax Deducted at Source (TDS) Compliance Advisory Services

At Dang & Associates, we provide comprehensive Tax Deducted at Source (TDS) Compliance services to ensure that businesses comply with TDS regulations under Indian tax laws. TDS is an important mechanism that ensures the timely collection of taxes by the government at the source of income. Non-compliance with TDS provisions can lead to penalties, interest, and other legal complications. Our team of Chartered Accountants is well-versed in TDS regulations and assists businesses in efficiently managing their TDS obligations.

Our TDS Compliance Services Include:

·       TDS Registration and Setup

We assist businesses in obtaining TDS registration and setting up the necessary infrastructure to ensure smooth TDS compliance. This includes applying for a Tax Deduction Account Number (TAN) and ensuring that it is updated in the company’s records.

·       TDS Deduction & Computation

Our team ensures that TDS is deducted at the appropriate rates on payments made to vendors, employees, contractors, or any other entities. We help businesses determine the correct TDS amount based on the nature of payments, such as salaries, interest, professional fees, and rent, in line with applicable tax laws.

·       TDS Return Filing

We handle the preparation and filing of quarterly TDS returns (Form 24Q, Form 26Q, etc.) within the prescribed time limits. We ensure that the returns are filed accurately, with all deductions and payments reflected correctly to avoid penalties.

·       TDS Payment Remittance

We ensure that TDS amounts are remitted to the government within the stipulated due dates. Our team monitors and makes timely payments on behalf of businesses to ensure that they remain in compliance with the law and avoid any interest or penalties for late payment.

·       TDS Certificates (Form 16/16A) Issuance

We assist in the issuance of TDS certificates (Form 16 for employees and Form 16A for non-salaried payments) to the deductee. These certificates provide proof of tax deduction and can be used by recipients to claim credit for taxes paid against their final tax liability.

·       TDS Reconciliation & Reporting

We conduct regular reconciliations of TDS deducted and paid to ensure accuracy and identify any discrepancies. Our team reviews records to ensure that all TDS payments match the filings and that the correct amount of tax has been deducted and remitted.

·       TDS on Foreign Payments

For businesses making payments to non-residents or foreign companies, we provide expert guidance on TDS provisions applicable to foreign payments. Our services ensure compliance with international tax regulations, including Double Taxation Avoidance Agreements (DTAAs), where applicable.

·       Rectification & Correction of TDS Returns

If there are errors or discrepancies in your TDS returns, we assist in rectifying them. Our team helps businesses file revised returns and make necessary corrections to avoid penalties and ensure accurate reporting.

·       TDS Audits & Assessments

In the event of a TDS audit or assessment by the tax authorities, we provide expert support to handle the process. Our team ensures that all TDS-related records and documents are in order and represent your interests during audits.

·       Advisory on TDS Exemptions & Deductions

We offer guidance on TDS exemptions available under various sections of the Income Tax Act. Our team helps identify situations where TDS may not be applicable or where lower rates may apply, ensuring that you are not over-deducting or under-deducting taxes.

Key Areas of TDS Compliance:

·       TDS on Salaries (Section 192)

TDS is deducted from salaries based on the income tax slab applicable to the employee. We assist in calculating the TDS on salaries and ensuring proper deductions as per applicable tax laws.

·       TDS on Payments to Contractors (Section 194C)

Businesses making payments to contractors for services rendered are required to deduct TDS under section 194C. We guide businesses in determining the correct TDS rate and ensure compliance with TDS filing obligations.

·       TDS on Interest Payments (Section 194A)

We assist in the correct deduction of TDS on interest payments made by businesses, ensuring compliance with section 194A of the Income Tax Act.

·       TDS on Rent Payments (Section 194I)

TDS is applicable on rent payments above certain thresholds. Our team helps businesses determine the correct TDS rate for rent payments, whether for office space, machinery, or other forms of rent.

·       TDS on Professional Fees (Section 194J)

Payments made to professionals, such as lawyers, consultants, and accountants, are subject to TDS under section 194J. We assist businesses in accurately calculating and deducting TDS on such payments.

·       TDS on Commission and Brokerage (Section 194H)

TDS applies to commission or brokerage payments. We help businesses ensure that TDS is properly deducted on commission and brokerage payments, ensuring compliance with the relevant provisions of the Income Tax Act.

·       TDS on Payments to Non-Residents (Section 195)

We guide businesses in handling TDS deductions on payments made to non-residents, ensuring compliance with the relevant provisions of section 195 and international tax treaties.

Why Choose Dang & Associates for TDS Compliance?

·       Expert Knowledge of TDS Regulations: Our team has in-depth knowledge of TDS provisions under Indian tax laws and ensures that your business complies with the latest updates and regulations.

·       Timely Filing & Remittance: We ensure that TDS returns are filed and payments are made within the prescribed due dates, avoiding penalties for non-compliance.

·       Accurate TDS Calculation: Our team helps you accurately calculate TDS on various payments, ensuring compliance while avoiding excess or deficient deductions.

·       Customized Solutions: We offer tailored TDS compliance solutions for businesses of all sizes, from small startups to large corporations, ensuring your specific needs are met.

·       End-to-End Services: From deduction and payment to return filing and certificate issuance, we offer a comprehensive suite of TDS compliance services, streamlining the process for you.

·       Audit & Dispute Resolution Support: In case of audits or disputes, our team provides expert support in resolving any issues with the tax authorities.

 

·       At Dang & Associates, we help businesses navigate the complexities of Tax Deducted at Source (TDS) compliance, ensuring that all tax obligations are met efficiently and accurately. Our expert team ensures that your TDS deductions, returns, and remittances are in full compliance with the law, minimizing the risk of penalties and interest 

With our in-depth expertise and client-centric approach, we ensure that your income tax matters are handled seamlessly, allowing you to focus on your core business activities with confidence.