Tax Deducted at Source (TDS)
Tax Deducted at Source is an income tax that is collected from certain payments like rent, salary, commission, interest, professional fees, etc., is made. The concept allow the deductor, who is liable to make payment of specified nature to deductee shall deduct tax at source and deposit the same in Government Account. Deductee will entitled to get credit of the same tax deducted by deductor at the time of making payment on the basis of 26AS or by way of TDS certificate issued by the deductor.
HIGHLIGHTS OF TDS
Being one of the leading Tax Consultancy Firm in Delhi, we provide the following TDS related services to our clients :
We have been in the business for over 11 years which has helped us to create a phenomenal team of hard working professionals. They are skilled and trained to provide high quality accounting operations. They are well-versed with the core concepts of accounting and are really flexible to cope with your existing operations, preferences and accounting procedures, maintaining a seamless transition.
• Filing of quarterly e-TDS (Regular/Correction) Returns :
24Q (Salary person)
26Q (Non Salary Person)
27Q (NRI and Foreigner Person)
27EQ (Tax Collected at Source by the Seller)
• Assisting in deposit of TDS
• Assist to clear long pending outstanding demands
• Assist to clear default notices
• Assisting in Refund
• Assist to waive off or reducing demands.
• Assisting and Representation in Show Cause Notice issued by ITO.
TDS/TCS Return Filing Due Dates
Quarter | Period | TDS Last Date of Filing | TCS Last Date of Filing |
1st | 1st April to 30th June | 31st July | 15th July |
2nd | 1st July to 30th September | 31st October | 15th October |
3rd | 01st October to 31st December | 31st January | 15th January |
4th | 1st January to 31st March | 31st May | 15th May |
Due Date of Challan Deposit : –
The due date for challan deposit of Tax deducted/collected is 7th of every next month. E.g. due date for challan deposit of TDS/TCS for the month of June, 2022 is 7th July, 2022.
Note :
Only for the month of March, the due date of challan deposit of TDS/TCS is 30th April.
TDS Rate Chart for FY 2022-2023 (AY 2023-2024) including Budget 2022 Amendments
(in OLD REGIME)
Income Range | Super Senior Citizen (who is 80 Years or above at any time during previous year) (a) | Senior Citizen (who is 60 years or above but below 80 years at any time during previous year) (b) | General Category & non Resident Other than (a) & (b) |
Upto Rs. 2,50,000 | Nil | Nil | Nil |
Rs. 2,50,001 to Rs. 3,00,000 | Nil | Nil | 5% |
Rs. 3,00,001 to Rs. 5,00,000 | Nil | 5% | 5% |
Rs. 5,00,001 to Rs. 10,00,000 | 20% | 20% | 20% |
Above Rs. 10,00,000 | 30% | 30% | 30% |
TDS Rate Chart for FY 2022-2023 (AY 2023-2024) including Budget 2022 Amendments
(in NEW REGIME)
Income Range | Income Tax Slab Rates for F/Y 2022-23 ( New Regime Applicable for HUF and all |
₹0.0 – | NIL |
₹2.5 | 5% (tax |
₹5.00 | 10% |
₹7.5 | 15% |
₹10.00 | 20% |
₹12.5 | 25% |
> ₹15.00 | 30% |
