TDS Return Filing Services

Complying with TDS & TDS return filing (Tax Deducted at Source) requirements is mandatory to ensure adherence to the Income Tax Act and avoid legal and financial consequences. The government enforces TDS regulations to ensure timely tax collection and prevent tax evasion. Failure to deduct or deposit TDS on time results in interest penalties (Section 201(1A)), late filing fees (Section 234E), and even prosecution (Section 276B), which can lead to imprisonment in severe cases. Additionally, non-compliance may result in the disallowance of expenses under Section 40(a)(ia), increasing taxable income and overall tax liability. Businesses and individuals must file TDS returns within prescribed due dates to maintain financial discipline, avoid penalties, and ensure seamless compliance with tax regulations. Proper TDS compliance also fosters credibility with tax authorities, preventing unnecessary scrutiny and audits.

At Jitesh Telisara & Associates LLP being TDS return filing consultant in Pune we provide comprehensive TDS compliance solutions to help businesses and individuals meet their tax obligations efficiently and accurately. We assist in timely deduction and deposit of TDS, to avoid penalties, interest, and legal consequences. 

Our services include

• Form 24Q –  File TDS return on Salary
• Form 26Q –  File TDS return non-Salary Payments 
• Form 27Q –  File TDS return on Payments to Non-Residents 
• Form 26QB -File TDS return on sale of Immovable Property in India
• Form 26QC– File TDS return on rent payments above ₹50,000/month

Additionally, we help businesses reconcile TDS statements with Form 26AS, resolve tax notices, and provide expert guidance to maintain compliance with evolving tax laws. By leveraging our expertise, clients can ensure seamless compliance, avoid tax scrutiny, and focus on their core business activities without worrying about TDS-related complexities.

The timeline for depositing TDS with the government depends on the category of the deductor and the month in which the tax is deducted.

1. For Non-Government Deductors:
   • TDS deducted during any month must be deposited by the 7th day of the following month.
   • However, for deductions made in March, the deadline is April 30 instead of the 7th.
2. For Government Deductors:
   • If the tax is deposited without an income tax challan, it must be remitted on the same day of deduction.
   • When using an income tax challan, the due date extends to the 7th of the next month.

However, If tax is deducted under any of the following sections, it must be deposited with the government within 30 days from the end of the month in which the deduction takes place:

• • Section 194-IA: TDS on payments related to the transfer of immovable property, excluding agricultural land.
  • Section 194-IB: TDS on rent payments made by specific individuals or Hindu Undivided Families (HUFs), except those covered under Section 194I.

Failing to deduct or deposit TDS within the specified deadline can lead to serious repercussions. Firstly, interest is imposed for any delay. If TDS is not deducted on time, an interest charge of 1% per month or part thereof applies from the due date of deduction until the actual deduction. If TDS is deducted but not deposited promptly, the interest rate rises to 1.5% per month or part thereof, calculated from the deduction date until the deposit date.

Additionally, under Section 234E, a late fee of ₹200 per day is imposed if the TDS return is not filed on time. However, the total late fee cannot exceed the TDS amount payable.

In addition to interest charges, penalties and legal actions may follow. As per Section 271C, the Assessing Officer (AO) has the authority to impose a penalty equal to the unpaid or undeposited TDS amount. Furthermore, under Section 276B, if the TDS remains unpaid for over 12 months, it can result in imprisonment ranging from three months to seven years, along with a fine.

Another significant consequence is the disallowance of expenses under Section 40(a)(ia). If TDS is neither deducted nor deposited, 30% of the corresponding expense is disallowed when calculating taxable business income. However, if the TDS is paid in a later financial year, the expense can be claimed as a deduction in that year.

To prevent these financial and legal consequences, it is crucial to ensure timely deduction and deposit of TDS in compliance with prescribed deadlines.

At Jitesh Telisara & Associates LLP , we assist our clients in ensuring full compliance with TDS regulations by providing expert support for the following TDS return filing services.