TDS and TCS

What is TDS and TCS?

TDS (Tax Deducted at Source) is an indirect system of deduction of tax according to the Income Tax Act, 1961 at the point of generation of income. Tax is deducted by the payer and is remitted to the government by him on behalf of the payee. A TDS Return is a quarterly statement which has to be submitted to the Income Tax Department of India. Submitting TDS Return is mandatory if you are a deductor. It has details of TDS deducted and deposited by you.

TCS (Tax collected at source) is the tax payable by a seller which he collects from the buyer at the time of sale. Section 206C of the Income-tax act governs the goods on which the seller has to collect tax from the purchasers. Every tax collector has to submit quarterly TCS return i.e in Form 27EQ in respect of the tax collected by him in a particular quarter. 

TAN is an alphanumeric 10 digit number required by a person who is liable to deduct TDS or collect TCS and file TDS or TCS return.

The TDS or TCS needs to be paid by the 7th of next month. It means the TDS or TCS for April must be paid by 7th May and so on, but for the month of March TDS or TCS required to paid by 30th of next month.

Due date of quarterly filing of TDS or TCS return are as follows

Deduction or collection month Due date of TDS Due date of TCS
April to June (1st quarter)
31st July
15th July
July to September (2nd quarter)
31st October
15th October
October to December (3rd quarter)
31st January
15th January
January to March (4th quarter)
31st May
15th May

How It Works ?

TYPES OF TDS/ TCS RETURNS

Documents required for IT Return Filing

Our Price

BASIC

1,499 /-
Upto 5 Transactions
  • TDS Return filing for Single quarter
  • Generation of Form 16A for single quarter

STANDARD

2,499 /-
Upto 5 Transactions
  • TDS Return filing for Single quarter
  • Generation of Form 16A for single quarter

ADVANCED

16,599 /-
Upto 10 Transactions
  • TDS Return filing for Single quarter
  • Generation of Form 16A for single quarter

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