Tax Deducted at Source (TDS) / Tax Collected at Source (TCS)
Compliance with withholding tax provisions forms a continuous statutory responsibility for businesses, institutions and other deductors. The provisions relating to deduction and collection of tax at source under the Income-tax Act 1961 require correct identification of applicable sections, accurate computation of tax, timely remittance and periodic reporting to the tax authorities.
We provide structured assistance in relation to TDS and TCS compliances to support deductors in meeting their statutory obligations in an organised and compliant manner.
Areas of Professional Support:
- Advisory support on applicability and interpretation of provisions relating to deduction and collection of tax at source
- Assistance in obtaining and managing Tax Deduction and Collection Account Number (TAN)
- Periodic review of withholding tax compliances with reference to transactions and statutory requirements
- Computation of TDS and TCS liabilities on a periodic basis
- Support in remittance of TDS and TCS within prescribed timelines
- Preparation and issuance of statutory TDS/TCS certificates in the prescribed forms
- Preparation and filing of quarterly TDS/TCS statements
- Filing of correction statements to address errors, mismatches or defaults
- Assistance in responding to notices and proceedings relating to TDS/TCS assessments
