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Tax Deducted at Source (TDS) is a critical component of India’s tax system, requiring businesses and individuals to deduct tax at specified rates on certain payments and remit it to the government. Compliance with TDS regulations under the Income Tax Act, 1961, ensures accurate tax collection and avoids penalties. At Ramraj B Hingmire & Co., our TDS Returns & Compliance services provide comprehensive support to manage TDS obligations, including accurate deductions, timely filings, and adherence to statutory requirements.

Our team of tax professionals offers meticulous guidance to simplify the TDS process, ensuring your organization meets all regulatory obligations while maintaining accurate financial records. We tailor our services to suit the specific needs of your business or individual requirements.

Key Features of Our TDS Returns & Compliance Services

• Accurate TDS Deductions: We ensure correct deduction of TDS on payments such as salaries, interest, rent, professional fees, and others, as per applicable rates and provisions.
• Timely Return Filing: We prepare and file quarterly TDS returns (Form 24Q, 26Q, 27Q, etc.) within the deadlines prescribed by the Income Tax Department.
• TDS Certificate Issuance: We assist in generating and issuing TDS certificates (Form 16, Form 16A) to deductees in a timely manner.
• Compliance Monitoring: We keep track of TDS rate changes, exemptions, and regulatory updates to ensure ongoing compliance.
• Reconciliation and Corrections: We reconcile TDS records with Form 26AS and address discrepancies or errors through revised returns or corrections.
• Advisory Support: We provide guidance on TDS-related queries, including applicability, exemptions, and compliance procedures.

Process of TDS Returns & Compliance

1. Requirement Analysis: We assess your business or individual transactions to identify TDS-applicable payments and relevant provisions.
2. Data Collection: We gather details of payments, deductions, and deductee information to prepare accurate TDS records.
3. TDS Computation and Deposit: We verify TDS calculations and ensure timely remittance of deducted taxes to the government.
4. Return Preparation: We compile and prepare quarterly TDS returns, ensuring all details align with financial records and regulatory requirements.
5. Filing and Certification: We file TDS returns through the Income Tax Department’s portal and assist in issuing TDS certificates to deductees.
6. Ongoing Support: We provide support for reconciling TDS data, addressing notices, and resolving queries from tax authorities.

Our TDS Returns & Compliance services are conducted in accordance with the Income Tax Act, 1961, and guidelines issued by the Institute of Chartered Accountants of India (ICAI), ensuring professionalism and accuracy. By leveraging our expertise, you can streamline your TDS obligations, maintain compliance, and avoid potential penalties or disputes with tax authorities.