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TDS Return For Business Owners

Home / TDS / TDS Return for Business Owners

TDS Return For Business Owners

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About

TDS Return for Business Owners

TDS or tax Deducted at Source is a form of income tax that is reduced from the money paid at the time of making specific payments such as rent, salary, professional fees, interest, etc. by the person making the payment.
TDS is calculated on a monthly basis, after the deduction of which the payments are dispatched. Usually, the person on the receiving end of the payment is liable to pay income tax, but the Government with the help of TDS makes sure that the income tax is deducted in advance from the payments being made by you. The recipient of income receives the amount after the deduction of TDS and the gross amount is adjusted against the recipient’s final tax liability.
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Why is TDS Processing Necessary?

TDS is mandatory for any business organization and enterprises and the task of TDS deduction and depositing it to the government must be done every month making sure there aren’t any room for error. Failing which, the government can impose any form of penalty on the said business.

Why is filing your TDS on time Mandatory?

  • Filing TDS on time will not attract unnecessary penalty of Rs.200 per day till the default continues
  • There are additional penalty of INR 10,000 to INR 1 Lakh that can be levied on the enterprise if they fail to file the TDS return within a year from the due date.
  • The main purpose of filing TDS returns is to facilitate reconciliation of ITR
  • If a person/business who is supposed to file their TDS returns, fails to do so within the stipulated time, the assessing officer may nullify the impact of expenditure on which the TDS was supposed to be deducted, which will make him liable to income tax incident

What is the Process for Filing TDS Returns?

The first requirement for filing a TDS Return is to obtain a valid TAN (Tax deduction account number). You need to assess if you are required to deduct TDS on which payments. Usually, all types of payments such as Salaries, Interest, Professional Fees, and Payment to Contractors, Rent of Machinery, and Rent of Building etc are covered under liable payments. There are prescribed rates for every type of TDS payments under the income tax act 1961.

How can we be of Help ?

Wissen is among the best TDS Processing and Filing Company for each and every kind of enterprises. And we furnish end-to-end TDS formalities like:

  • Monthly TDS calculation as per the information declared.
  • Payment of the tax to the tax department.
  • E-filling of the TDS returns.
  • Issue Tax Deduction Certificate to the payee.
  • Providing expert suggestion for complete tax planning and others.

Frequently Asked Question

[ultimate-faqs include_category="tds-return-for-business-owners"]

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Our Package

Are you an Individual

Are you a Business owner / Professional

Do you want to start your Business

Do you want Free Consultation

Income Tax Return Filing

TDS Filing

Income Tax return filing

Accounting and Bookkeeping

Annual ROC Compliances

GST Return filing

GST Registrations

Incorporation services

Digital Signature

TAN Application

Udyog Aadhar

Thank Your For Your Valuable Information

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Type of Income you have

TDS Return filing

Nature of Business

How Many transactions you have in a month

Nature of Business

How Many Sales / Purchase invoices you have in a Month

What type of Company you want to incorporate

Single form 16- Salary Income, Housing Interest and Other Income.
500

Multiple form 16 – Salary, Rental Income & Housing Interest and Other Income.
750

Single / Multiple form 16 – Salary, Rental Income & Housing Interest , Capital Gain Sale of Property and Other Income.
1000

NRI and Foreign Income
2500

Upto 25 Transactions per return- Rs 750 per return
750

Upto 50 Transactions per return- Rs 1000 per return
1000

Above 50 transactions per return- Rs 1500 per return
1500

For business owner who want to file their return under presumptive taxtion. – Rs 1500
1500

For Partnership Firms – Rs 2500
2500

For Private Limiteds – Rs 4000
4000

Monthly charges
01 Month
03 Months
06 Months
12 Months

Upto 100 transaction
1000
2700
5100
9600

100 to 300 Transactions
2000
5400
10200
19200

300 – 500 Transactions
3000
8100
15300
28800

500 to 1000 Transactions
4000
10800
20400
38400

1000 and more
5000
13500
25500
48000

Private Limited – Rs 7500
7500

LLP – Rs 5000
5000

Monthly charges
01 Month
03 Months
06 Months
12 Months

No purchase
500
1350
2550
4800

Upto 25
1000
2700
5100
9600

Upto 50
1500
4050
7650
14400
Upto 100
2500
6750
12750
24000

More than 100
3500
9450
17850
33600

GST Registrations – Rs 1500
1500

Private Limited – Rs 5000
5000

LLP – Rs 5000
5000

Partnership – Rs 7500
75000

Sole Proprietorship – Rs 3000
3000

OPC – Rs 5000
5000

Class 3 DSC Rs 1500
1500

TAN Application – Rs 1000
1000

Udyog Aadhar – Rs 1500
1500

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