TDS Filing Compliances

TDS compliances should be fulfilled where the tax is collected over a payment made for an asset or service. Different types of payments, such as, rent, commission, professional fees, interest, etc. are there on which TDS is applicable in India. Based on its type, the TDS deposit procedure and its receipt that is compulsorily be given to the seller/service provider varies accordingly. Here we’re to provide you 100% Government-authorized and risk-free TDS compliances assistance. Do not delay in availing and complete this liability. It can cost you penalties/legal charges if you fail to pay the TDS and file its details within due time. Go through its details and know how it's Myitronline works.

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FAQs of TDS Compliances

Any individual who is required to deduct the tax at the source or TDS. He/she must issue a TDS certificate. A TDS certificate helps an assessee to claim the tax benefits and tax refund.

In this case, an individual who does not pay TDS of immovable property has to pay the penalty of Rs.1 lakh under section 271H.

Yes. The seller can claim TDS on selling the property.

TDS can be deposited every 7th of each month for the payment made in the last month. Regardless, the TDS deducted in March can be deposited till 30th April.

Yes. An individual can deposit TDS within 30 days of the ending month in which it was deducted.

There are mainly two types of certificates. One is an annual TDS certificate and the second one is a quarterly TDS certificate.

When an employer or deductee deducted the tax at the source, they have to issue a TDS certificate which is form-16 or form16A. This form reflects the deducted TDS and the list of deductees.

Yes. Both PAN and TAN are mandatory for filing the tax deducted at the source returns.

The deducted tax must be paid to the government under section 51(2) of the KGST/CGST act of 2017.

As per the income tax laws, every individual must file an income tax return whose income in a financial year exceeds the exemption limit of Rs.2,50,000.

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