TDS ISSUES

TDS stands for tax deducted at source. As per the Income Tax Act, any company or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. TDS has to be deducted at the rates prescribed by the tax department.

The company or person that makes the payment after deducting TDS is called a deductor and the company or person receiving the payment is called the deductee. It is the deductor’s responsibility to deduct TDS before making the payment and deposit the same with the government. TDS is deducted irrespective of the mode of payment–cash, cheque or credit–and is linked to the PAN of the deductor and deductee.

TDS is deducted on the following types of payments:

Salaries; Interestpaymentsbybanks; Commission payments; Rent payments; Consultation fees; Professional fees

Bizoptima offers hassle-free and affordable TDS compliance services to companies at their various stages. Our TDS compliance services are professionally rendered with a minimum of fuss, and add value to your business proposition by being highly cost-effective