Meerad Business Consultants

Tds Return Filing Services

TAN or Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government. Tax deducted at source (TDS) ensures that the Government’s collection of tax is proponed and the responsibility for paying tax is diversified. However, a proprietorship business and other entities (i.e., Pvt ltd Company, LLP, etc.,) must deduct tax at source while making certain payment like salary, payments to contractor or sub-contractors, payment of rent exceeding Rs.1,80,000 per year, etc. The person deducting the tax at source is required to deposit the tax deducted to the credit of Central Government – quoting the TAN number. Those entities have TAN Registration must then file TDS returns. TDS returns are due quarterly. We can help you file e file your TDS returns online. Our TDS experts can help you compute your TDS payments and e file the TDS return and keep you in compliance with TDS regulations. Individuals who are salaried are not required to obtain TAN or deduct tax at source. We can help obtain TAN Registration.

MORE DETAILS ABOUT TDS RETURN FILING PROVISIONS IN INDIA:

Who must file TDS Returns?
All those persons who are required to deduct tax at source (TDS) are required to obtain TAN number. Entities having TAN number must efile TDS returns.
What is the penalty for late filing of TDS return?
Delay in furnishing the eTDS statement will result in a mandatory fees of Rs. 200 per day, the total fees should not exceed the total amount of TDS made for the quarter. The penalty for non filing of TDS return for more than one year from the specified date is a minimum Rs 10,000 to Rs 1 lakh.
What is TAN?
TAN is Tax Deduction and Collection Number. TAN is used by the Income Tax Department to track all payments and filings of persons or entities required to deduct tax at source and pay it to the Government. TAN is a 10 digit alpha numeric number.
Who must obtain TAN?
Individuals who are salaried are not required to deduct tax at source. However, Individuals who run a proprietorship business are required to deduct tax at source. All other entities like LLP, Private Limited Company, Limited Company, Trust, Society, etc., are required to obtain TAN and deduct tax at source. Not obtaining TAN when applicable, attracts a penalty of Rs.10,000.
Can I use a PAN instead of TAN?
No, PAN cannot be quoted where TAN is required. PAN and TAN serve two different purposes. Therefore, it is mandatory for those deducting tax at source to obtain a TAN.
When is TDS Return due?
TDS returns are due quarterly. Use ReminDue to know the next TDS return due date and TDS payment due date for your business.
How to make service tax payment?
TDS payments can be made online through net banking facilities.
Why is TAN required?
It is mandatory for business entities and other type of entities to deduct tax at the source, i.e., while paying rent, salary, etc., and pay the same to the Government. To track these payments, TDS Certificates and TDS Filings, the Government mandates TAN registration for all entities required to deduct tax at source. TDS ensures the responsibility for payment of tax is diversified and the Government receives tax sooner.
What documents are required for obtaining TAN?
To obtain TAN, application must be made in Form 49B at any of the authorized TAN Facilitation Center. IndiaFilings is an authorized TAN Facilitation Center.
When is TDS Return due?
TDS returns are due quarterly. Use ReminDue to know the next TDS return due date and TDS payment due date for your business.
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