TDS Return Filing

At CACSFinacc Services, we understand that compliance with the Tax Deducted at Source (TDS) regulations is crucial for the smooth functioning of your business. With frequent changes in tax laws and stringent compliance requirements, staying updated and filing timely returns is essential to avoid penalties and ensure seamless financial operations.

Why TDS Return Filing is Important?

TDS is a mechanism by which tax is collected at the source of income. It applies to various payments, such as:

• Salaries
• Rent
• Interest
• Professional Fees
• Commission Payments
• Contractual Payments

Filing TDS returns accurately and on time:

• Ensures compliance with the Income Tax Act, 1961.
• Prevents penalties and interest charges.
• Facilitates timely issuance of Form 16 and Form 16A.
• Allows smooth processing of tax credits for the deductee.

Our TDS Return Filing Services Include:

1. TDS Registration and Compliance:
   • Assistance with TAN registration.
   • Guidance on TDS applicability for various transactions.
   • Ensuring compliance with Section 192, 194C, 194J, and other relevant sections.
2. Preparation and Filing of TDS Returns:
   • Quarterly filing of TDS returns (24Q, 26Q, 27Q, and 27EQ).
   • Generation and validation of Form 27A.
   • Online submission of returns to the TIN-NSDL portal.
3. Correction and Revision of Returns:
   • Support for revising TDS returns in case of discrepancies.
   • Correction of PAN details, challan mismatches, and other errors.
4. Generation of TDS Certificates:
   • Issuance of Form 16 and Form 16A to employees and vendors.
   • Ensuring timely download and distribution as per statutory deadlines.
5. Form 26AS Reconciliation:
   • Cross-checking the TDS deposited with the figures appearing in Form 26AS.
   • Identification and rectification of mismatches.
6. Penalty Management and Compliance Advisory:
   • Advisory on avoiding common errors that lead to interest and late filing penalties.
   • Assistance in responding to TDS notices from the Income Tax Department.

Key Updates for Financial Year (FY) 2025–26

1. Revised TDS Threshold Limits

   The Budget 2025 has introduced enhanced threshold limits for TDS, ensuring that smaller transactions remain exempt from tax deduction, thereby reducing the compliance burden. These revised limits, effective from April 1, 2025, apply to various sections of the Income Tax Act, 1961.

2. Updated TDS Return Filing Due Dates

   For FY 2025–26, the due dates for filing quarterly TDS returns are as follows:

   • Q1 (April–June): 31st July 2025
   • Q2 (July–September): 31st October 2025
   • Q3 (October–December): 31st January 2026
   • Q4 (January–March): 31st May 2026

   Timely filing is essential to avoid penalties and ensure compliance.

3. Penalties for Non-Compliance

   Failure to file TDS returns on time or providing incorrect information can lead to penalties:

   • Late Filing Fee (Section 234E): ₹200 per day until the return is filed, subject to a maximum of the TDS amount.
   • Penalty (Section 271H): Ranging from ₹10,000 to ₹1,00,000 for incorrect details or non-filing.
   • Interest (Section 201(1A)): 1.5% per month for delayed payment of TDS.

Our TDS Return Filing Services

At CACSFinacc Services, we provide comprehensive TDS return filing solutions:

• Accurate Preparation: Ensuring all TDS details are correctly captured and reported.
• Timely Filing: Adhering to all statutory deadlines to avoid penalties.
• Compliance Management: Keeping you updated with the latest TDS regulations and ensuring adherence.
• Error Rectification: Assisting in correcting any discrepancies or errors in TDS returns.

Stay ahead in TDS compliance with CACSFinacc Services. Contact us today to streamline your TDS return filing process.