TDS Returns
Fohzo manages TDS returns meticulously, ensuring compliance and seamless filing of tax deductions at source for businesses.
What Is TDS ?
TDS stands for Tax Deducted at Source. It is a system introduced by the government to collect taxes at the source of income generation. Under this system, a person or entity making specific payments such as salaries, interest, rent, professional fees, etc., is required to deduct a certain percentage of tax from the payment amount and deposit it with the government. The deducted tax is then credited to the account of the payee (the recipient of the payment). TDS serves as an advance payment of income tax and helps in the regular and efficient collection of taxes. The payee can claim the TDS amount as a credit while filing their income tax returns. TDS ensures a steady inflow of revenue to the government and promotes tax compliance among taxpayers.
How To File TDS Returns ?
1. Obtain TAN: Get a Tax Deduction and Collection Account Number (TAN).
2. Collect TDS Data: Gather information on TDS deductions made.
3. Prepare TDS Return: Use software or online portal to prepare the return.
4. Validate Data: Verify the TDS return data for accuracy.
5. Generate Return File: Create the TDS return file in the specified format.
6. File Return: Login to the designated portal, upload the file, and submit.
7. Pay TDS Liabilities: Settle any TDS liabilities before filing.
8. Receive Acknowledgement: Get an acknowledgment receipt after filing.
9. Issue TDS Certificates: Provide TDS certificates to deductees within the timeframe.
Why Choose Us?
Choose us for our expertise, accuracy, and commitment to client satisfaction. We have extensive knowledge and experience in TDS compliance, ensuring that your returns are filed correctly and in a timely manner. Our team provides personalized guidance and support throughout the process, minimizing the chances of errors and penalties. We stay updated with the latest TDS regulations and ensure compliance with all requirements. Trust us to handle your TDS returns efficiently, saving you time and effort while ensuring compliance with tax laws.
