Calculation of Tax Deducted at Source (TDS), preparation of monthly payments, and filing of quarterly TDS returns in compliance with Income Tax regulations.
All business entities and individuals required to deduct tax at source while making payments like salaries, professional fees, contractor payments, or rent.
Reviewing transactions monthly for TDS applicability.
Preparing challans to deposit TDS by the 7th of the following month.
Drafting the quarterly NSDL text files and checking PAN validations.
Submitting the returns through registered Tin-FC centers or online.
Under Section 234E, a late filing fee of INR 200 per day is levied for each day the return remains unfiled, up to the TDS amount.
Form 16A is a quarterly TDS certificate issued by the deductor to the deductee for payments other than salary, reflecting tax deducted and deposited.
