The concept of TDS requires the person making the payment to the recipient to deduct tax at appropriate rates. The deducted amount is required to be deposited to the credit of the central government. The recipient from whose income TDS has been deducted gets the credit of the amount deducted in his personal assessment on the basis of the certificate issued by the deductor.
Our firm is involved in offering services for TDS Compliance. We provide TDS filing services and other related services. Tax deducted at source is one of the modes of collecting Income-tax from the assessee in India. Such collection of tax is effected at the source when income arises or accrues. Hence, where any specified type of income arises or accrues to any one, the Income-tax Act compels the payer of such income to deduct a stipulated percentage of such income by way of Income-tax and pay only the balance amount to the recipient of such income. The tax so deducted at source by the payer has to be deposited in the Government treasury to the credit of Central Govt. within the specified time. The tax so deducted from the income of the recipient is deemed to be payment of Income-tax by the recipient at the time of his assessment. Income from several sources is subjected to tax deduction at source. We provide service for preparation of TDS quarterly and annual filings. Income tax is required to be deducted at source on certain payments, such as salaries, interest, payments to contractors and insurance commission. The tax so deducted is to be deposited into the Govt. of India and treasury within the prescribed time limits.