Withholding Tax Advisory & Compliance Support
TDS or Tax Deduction at Source, as the name implies, aims at collection of income tax at the very source of income. TDS or Tax Deducted at Source is income tax reduced from the money paid at the time of making specified payments such as rent, commission, professional fees, salary, interest etc. by the persons making such payments.
Failure to comply with the prescribed withholding requirements could result in the levy of penal interest, penalty and prosecution under the Act, in addition to the liability to make up for the taxes not withheld/deposited.
How Taxpert Professionals can assist you?
- Regular Review and assistance in the maintenance of Tax Deducted at Source records
- Verification of all payments to vendors for the purposes of determination of the correct application of rates and category for deduction of withholding taxes.
- Computation of monthly TDS on the basis of the above.
- Monthly tax reconciliation of the TDS due and deducted.
- Preparation and deposit of Monthly challans on or before the statutory due dates.
- Filing of quarterly E-TDS Returns.