Why Choose Jain Prachi & Company?
Accurate & Timely Filing
– Avoid penalties with on-time quarterly TDS returns.
Error-Free Compliance
– Ensure 100% accuracy to prevent tax notices.
Complete Digital Process
– Hassle-free online filing with expert CA support.
TDS Refund Assistance
– Claim excess deductions and get timely refunds.
Get Started!
TDS & TCS Return Filing Services in India
Great service and very helpful. Received advice on taxation and it proved very helpful. Would recommend it for everyone.
runda Makwana
I have been using JAIN PRACHI & COMPANY Accounting Services from last 6 years, and I am consistently impressed with their professionalism and proactive approach so far.
Ankit Neema
Highly professional and responsive with excellent expertise in taxation in Indore!
Shreyansh Bokadiya
10
Years Experience
Why Choose Jain Prachi & Company for TDS & TCS Filing?
Proven Benefits for Businesses:
✔ Accurate & Timely Filing – Ensure compliance with due dates to avoid penalties.
✔ Complete Digital Process – Hassle-free TDS & TCS return filing with expert CA assistance.
✔ Error-Free Compliance – Avoid notices from tax authorities due to incorrect submissions.
✔ TDS Refund Assistance – Claim excess deductions and get timely refunds.
✔ Dedicated Compliance Manager – Personalized assistance for smooth processing.
✔ End-to-End Support – Filing, rectifications, corrections, and compliance monitoring.
✔ Nationwide Service – TDS & TCS return filing support across India.
Understanding TDS & TCS
✔ What is TDS (Tax Deducted at Source)?
TDS is a mechanism where tax is deducted at the time of making payments like salary, rent, commission, interest, or professional fees. The deducted tax must be deposited with the government and reported through TDS returns.
✔ What is TCS (Tax Collected at Source)?
TCS is the tax collected by sellers while receiving payments for specified goods and services, which must be deposited with the government.
✔ What is TDS Return Filing?
TDS return filing is the process of submitting quarterly statements to the Income Tax Department, detailing TDS deducted, deposited, and allocated to respective PAN holders. This ensures proper credit to the taxpayers and compliance with tax laws.
Who Should File TDS Returns?
| Category | TDS/TCS Applicability |
|---|---|
| Salaried Employers | Deduct TDS on salaries under Section 192 |
| Freelancers & Professionals | TDS deduction under Section 194J (if turnover exceeds ₹50 lakh) |
| Businesses & Companies | TDS on contractor payments, rent, commission, and interest income |
| E-Commerce Operators | Collect TCS on online sales under Section 52 |
| Traders & Retailers | TCS deduction for goods sales above the prescribed limit |
| NRIs & Foreign Entities | TDS on payments to non-residents as per DTAA provisions |
TDS Compliance Requirements for Businesses
✔ Timely Deduction of TDS – Businesses must deduct TDS at applicable rates while making payments.
✔ Deposit TDS Before Due Date – Deducted TDS must be deposited monthly with the government.
✔ File TDS Returns Quarterly – Details of TDS must be reported every quarter.
✔ Issue Form 16/16A to Deductees – TDS certificates must be issued for tax credit claims.
Types of TDS Return Forms
| Form Type | Applicable For |
|---|---|
| Form 24Q | TDS on salaries |
| Form 26Q | TDS on non-salary payments (contractors, rent, commission, etc.) |
| Form 27Q | TDS on payments to non-residents (foreign transactions) |
| Form 27EQ | TCS return on tax collected at source |
TDS & TCS Deduction Rates (As per New Income-tax Bill 2025)
| Payment Type | TDS/TCS Rate | Applicability/Threshold Limit |
|---|---|---|
| Salary (Section 192) | As per income tax slab | Salary income exceeding taxable limit |
| Interest on Bank Deposits (Section 194A) | 10% | If interest exceeds ₹40,000 (₹50,000 for senior citizens) |
| Rent Payment (Section 194I) | 10% for land/building, 2% for plant/machinery | If rent exceeds ₹2.4 lakh per year |
| Professional Services (Section 194J) | 10% | If payment exceeds ₹30,000 per year |
| Commission & Brokerage (Section 194H) | 5% | If payment exceeds ₹15,000 per year |
| Contractor Payments (Section 194C) | 1% for individuals, 2% for others | If single payment exceeds ₹30,000 or aggregate exceeds ₹1 lakh per year |
| E-commerce Transactions (Section 194O) | 1% | If total sales exceed ₹5 lakh per year |
| TCS on Sale of Goods (Section 206C(1H)) | 0.1% | If turnover exceeds ₹10 crore and receipts exceed ₹50 lakh |
| TCS on Foreign Remittances (Section 206C(1G)) | 5% | If remittance exceeds ₹7 lakh per year |
Due Date for Filing TDS Return Online
| Quarter | TDS Return Due Date |
|---|---|
| April – June | 31st July |
| July – September | 31st October |
| October – December | 31st January |
| January – March | 31st May |
Documents Required for TDS & TCS Filing
| Entity Type | Required Documents |
|---|---|
| Salaried Employers | Salary details, PAN & Aadhaar of employees, Tax Deduction details |
| Businesses & Companies | TDS challan, invoices, PAN details of deductees, GST details |
| E-Commerce Operators | Sales records, GST returns, buyer details, TCS collected details |
| Freelancers & Consultants | Payment receipts, tax deduction details, bank statements |
| NRIs & Foreign Entities | Proof of transactions, DTAA documents, TDS challan |
Step-by-Step Guide for TDS & TCS Return Filing
✔ Document Collection – Submit relevant details, invoices, and deduction details.
✔ Computation of TDS/TCS Liability – Calculate tax payable and deductions.
✔ Filing & Submission – Prepare and submit the return to the Income Tax Department.
✔ Generate Form 16 & 16A – Issue TDS certificates to employees and vendors.
✔ Correction & Revision Support – In case of mismatches or incorrect filing.
✔ Post-Filing Compliance – Regular tracking and compliance updates.
Advantages of Filing TDS & TCS Returns on Time
✔ Avoid Late Fees & Penalties – Non-compliance results in penalties under Sections 234E & 271H.
✔ Maintain Business Credibility – Ensure compliance for smooth business operations.
✔ Seamless Income Tax Assessments – Avoid notices and scrutiny from tax authorities.
✔ Claim TDS Refunds Easily – Timely filing helps in hassle-free refund processing.
✔ Legal Compliance – Mandatory for businesses to file returns quarterly.
Common Mistakes to Avoid During TDS & TCS Filing
✔ Incorrect PAN Details – Mismatch leads to rejection or additional tax liability.
✔ Late Deposits & Filings – Delays attract heavy penalties and interest.
✔ Mismatched Challans & Returns – Cross-check payment details before filing.
✔ Wrong TDS Rate Application – Different sections have varied deduction rates.
✔ Failure to Issue Form 16/16A – Non-compliance affects employees and vendors.
How to Make Correction on Your TDS Returns?
✔ Download Consolidated (Conso) File – Get the correction file from TRACES portal.
✔ Use RPU (Return Preparation Utility) – Modify details in the correction file.
✔ Validate Using FVU (File Validation Utility) – Check for errors before submission.
✔ Submit Revised TDS Return – File the corrected statement online.
✔ Track Correction Status – Check updates on TRACES for processing.
TDS & TCS Return Filing Plans & Pricing
| Feature | Basic Plan | Standard Plan | Premium Plan |
|---|---|---|---|
| TDS/TCS Return Filing | Up to 10 Deductees | Up to 50 Deductees | 50+ Deductees |
| Correction & Revision Support | No | Yes | Yes |
| Tax Deduction Certificates (Form 16 & 16A) | Included | Included | Included |
| Compliance Monitoring | No | Yes | Yes |
| Dedicated Relationship Manager | No | Yes | Yes |
| Pricing | ₹1,499 | ₹2,999 | Customized Quote |
Phone
+91-8989666715
Location
304, Trade House, 14/3, South Tukoganj, Indore (M.P.) -452001
contactus@jainprachi.com
