#Online TDS returns filing India

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GST Return Filing services in India

GST return filing services in Indiawill assist you with the complicated procedure that is considered vital in order to establish yourself as a businessman. A GST return is essentially a record that contains all of the facts of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). After filing GST returns, you must pay the resultant tax liability (money that you owe the government). This whole thing makes GST return filing in India one of the important things to look after. 

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In case you paid a tax amount exceeding its limit, you always have the option to file a TDS Return. For the Best TDS Return Services, contact Eazystartups.

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A DSC or ID is also referred to as a digital signature certificate online. To digitally sign official documents, the issuing authority must possess an active digital certificate. A digital certificate is issued by a certificate authority. Third-party certificate authorities offer the option to either purchase a DSC online or apply for a digital signature online. The risk of duplication or alteration of the signed document can be minimized by Digital signatures. DSC users are provided with a unique token password to authenticate, verify their identity and sign the respective document

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Learn How to check GST Payment status complete guide - Taxring

Stay informed about your GST obligations with our comprehensive guide. Learn how to check your GST payment status, make payments online, and understand important deadlines. Access details on GST login procedures, CPIN number retrieval, and how to download GST payment challan receipts. Whether you're looking for GST payment status updates or tips for efficient online transactions, we've got you covered. Navigate the GST Portal with ease and ensure compliance with all GST regulations.

Check also: How to check GST ARN Status? , What is Goods and Service Tax (GST)

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TDS/TCS Return Due Date for FY 2024-25 (AY 2025-26)

TDS, or Tax Deducted at Source, is a system where the government collects taxes directly from the source of income. In this process, the payer, like your employer, deducts a portion of your earnings and deposits it with the government on your behalf.

Navigating through tax complexities can often be confusing. TDS plays a crucial role in India’s tax collection framework. This blog will guide you through the due date for TDS return filing for the financial year 2024-25, ensuring you stay compliant and avoid penalties.

Process for Filling TDS Return for the FY 2024-25 Here is a step-by-step guide on how to fill and submit your TDS return for the financial year 2024-25 (Assessment Year 2025-26):

Gather Information Ensure you have a valid Tax Deduction and Collection Account Number (TAN). Collect all the challan details (payment slips) for the TDS deposited throughout the quarter. Organize your TDS records, including payee PAN details, nature of payments, and TDS deducted amounts. Choose the Right Form Use Form 24Q for salary payments. Use Form 26Q for other payments like interest, professional fees, rent etc. (domestic transactions). Use Form 27Q for payments to non-residents/foreign companies (except those covered by Form 26QB). Online Filing Process Access the Income Tax Department e-filing portal. Enter your user ID, password, and captcha code to log in. Navigate to the TDS section on the portal. Select the “Upload TDS” option and choose the appropriate form (24Q, 26Q, or 27Q) filled with your TDS data. The portal typically allows uploading the data in a specific format. You may need to download the format from the website and populate it with your information. The portal may prompt you to validate certain details in the uploaded file. Review and confirm the details. Once validated, submit the TDS return electronically. You might also be able to sign it digitally.

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GST Registration and Its Types

What is GST Registration?

Goods and Services Tax (GST) is a comprehensive indirect tax on the manufacture, sale, and consumption of goods & services in India. GST registration is the process by which a business is registered under the GST law. It is mandatory for businesses whose annual turnover exceeds a certain threshold or those engaged in interstate supply of goods and services. Upon registration, businesses are given a unique GSTIN (GST Identification Number), which allows them to collect GST from customers and claim input tax credits.

Types of GST Registration

Regular Taxpayer Registration: This is the most common type of GST registration. Businesses or individuals whose annual turnover exceeds ₹20 lakh (₹10 lakh for special category states) must register as a regular taxpayer. Once registered, the business must regularly file GST returns and pay taxes.

Composition Scheme: The Composition Scheme is designed for small businesses with a turnover of up to ₹1.5 crore. Under this scheme, businesses pay a fixed percentage of their turnover as GST, and they cannot claim input tax credits. They also face fewer compliance requirements, such as quarterly returns instead of monthly ones.

Casual Taxable Person: A casual taxable person is someone who occasionally supplies goods or services in a location where they don’t have a fixed place of business. For example, a business that sets up a stall at an exhibition in a different state would register under this category. Casual taxable persons must pay GST in advance, based on estimated turnover.

Non-Resident Taxable Person: This type of registration is for individuals or businesses located outside India but supplying goods or services within India. They must register under GST regardless of turnover and are required to pay taxes in advance, similar to casual taxable persons.

Input Service Distributor (ISD): Businesses that receive services on behalf of their branches or units across different states can register as an Input Service Distributor. This enables them to distribute the input tax credit to other branches registered under the same PAN.

E-commerce Operator: Any business or individual involved in providing a platform for others to sell goods or services online (like Amazon or Flipkart) must register as an e-commerce operator. They are required to collect tax at the source (TCS) for the goods and services sold through their platform.

Tax Deductor (TDS) or Tax Collector (TCS): Certain government bodies and e-commerce operators are required to register as a tax deductor (TDS) or tax collector (TCS). These entities deduct or collect tax at the time of payment and deposit it with the government.

Each type of GST registration is meant for specific business conditions, ensuring appropriate tax compliance and easing the process for small businesses or specialized service providers.

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How Digitalization is Simplifying Nil TDS Return Filing in India

In the evolving landscape of taxation in India, digitalization has converted the way businesses and people manipulate tax-related obligations. One such location that has visible huge development is the filing of Nil TDS Return.

With the integration of superior generation and consumer-friendly structures, the system of submitting Nil TDS returns has grow to be quicker, extra transparent, and available.

This article explores how digitalization is simplifying Nil TDS return submitting and the benefits it brings to agencies and taxpayers alike.

Understanding Nil TDS Return 

A Nil TDS Return is filed while a taxpayer, regardless of having no tax deductions for a selected period, still needs to comply with the Income Tax Department’s guidelines. Filing a Nil TDS go back ensures that agencies stay compliant and avoid needless consequences, even when no tax is deducted at supply at some point of a selected sector.

Prior to digitalization, submitting those returns changed into a guide, time-consuming process that worried managing physical paperwork, main to inefficiencies and delays.

Digitalization: The Game Changer in TDS

Filing The advent of digital structures has considerably transformed how Nil TDS returns are filed. With the arrival of e-submitting portals, taxpayers now have get right of entry to to an green and streamlined system that minimizes the burden of compliance. Below are some key methods wherein digitalization has made Nil TDS go back submitting more convenient:

1. E-Filing Portals for Streamlined Process

One of the most big improvements in taxation in India is the availability of the net e-filing portal released by way of the Income Tax Department. Taxpayers can now log in to the portal, record Nil TDS returns, and track their filing fame—all from the comfort of their workplace or home.

The online portal guides customers step-through-step, making the technique clear and reachable, even for the ones with out substantial knowledge of taxation laws. The simplified online interface is designed to cater to one-of-a-kind categories of taxpayers, ensuring that the user enjoy is as intuitive as possible.

2. Automated Calculations and Data Validation 

One of the challenges taxpayers faced in the pre-virtual era was manually calculating figures and ensuring the accuracy of statistics supplied in returns. Errors could lead to rejections and consequences.

With the digital submitting of Nil TDS returns, these challenges are minimized through computerized systems that perform calculations and validate the data in real-time. This eliminates human mistakes and ensures that the returns filed are correct and compliant with prison necessities.

3. Time and Cost Efficiency

Before digitalization, filing a Nil TDS return concerned making ready paper files, traveling the income tax office, and spending sizable time in the procedure. With virtual filing, taxpayers shop both money and time.

The entire manner can now be completed online inside a few minutes, permitting companies to recognition on their middle operations in preference to dedicating resources to tax compliance.

4. Reduced Paperwork

Digitalization has efficaciously eliminated the need for physical documentation. Filing Nil TDS returns now requires minimum paperwork, as all forms and files are submitted on-line. This no longer most effective reduces the executive burden but additionally promotes environmental sustainability by minimizing paper use.

5. Easy Record Keeping and Tracking

Digitalization additionally simplifies record-maintaining. All the filings, receipts, and communique with the tax department are to be had on line, permitting agencies to tune their returns and maintain accurate data. This virtual storage ensures that documents may be retrieved effortlessly for future reference, audits, or compliance checks.

6. Instant Acknowledgment and Confirmation 

In the traditional filing machine, it often took days, or even weeks, to obtain confirmation that the TDS return were successfully submitted.

With virtual submitting, taxpayers get hold of instantaneous acknowledgment of their submission, presenting peace of thoughts that the go back has been processed efficiently. This quick response reduces pressure and ensures timely compliance.

7. 24/7 Availability of Filing Platforms

Digitalization has delivered spherical-the-clock availability to the process of filing Nil TDS returns. Taxpayers can now document their returns at any time and from any area, with out being limited by office hours.

This flexibility is in particular useful for organizations that can need to record closing-minute returns or those positioned in special time zones.

Conclusion

The digital revolution in India's tax system has made filing Nil TDS Return simpler, faster, and greater efficient than ever before. By leveraging e-filing structures, automation, and more advantageous accessibility, agencies and taxpayers can now fulfill their tax obligations effortlessly.

As digital equipment retain to conform, it's miles expected that the process becomes even more person-friendly, further encouraging timely compliance and contributing to the growth of a obvious and green tax surroundings in India.

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Tally ERP 9 Course Near Me in Mohali: Your Guide to the Best Institutes

If you are searching for the best Tally ERP 9 course near me in Mohali, you're on the right path to advancing your career in accounting and financial management. Tally ERP 9 is one of the most widely used accounting software programs in India, designed to meet the growing needs of small and medium businesses (SMEs). It is used to manage accounting, inventory, payroll, GST, taxation, and more.

In this blog, we’ll explore why learning Tally ERP 9 is essential, what to expect from a comprehensive course, and the best training institutes in Mohali where you can master this software.

Why Learn Tally ERP 9?

Tally ERP 9 is an essential tool for professionals in finance and accounting. Here are some of the key reasons to learn Tally ERP 9:

Complete Business Solution: It covers multiple aspects of business management including accounting, inventory, payroll, and taxation.

GST Compliance: Tally ERP 9 is widely used for GST calculations, filing, and compliance, making it an important tool for businesses.

Career Growth: Mastering Tally ERP 9 opens up job opportunities in accounting, finance, and taxation across industries.

User-Friendly Interface: It’s easy to learn and use, which makes it a preferred choice for small and medium enterprises.

Wide Industry Usage: Tally is used across various sectors like retail, manufacturing, services, and education.

What to Expect in a Tally ERP 9 Course?

Before enrolling in a Tally ERP 9 course near you in Mohali, ensure that the curriculum is comprehensive, covering both basic and advanced features. A complete Tally ERP 9 course will typically include the following topics:

1. Introduction to Tally ERP 9

Overview of Tally ERP 9 software

Installation and licensing process

Tally interface and navigation

Creating and managing companies in Tally

2. Accounting with Tally

Recording transactions

Ledger creation and management

Creating and managing vouchers (Payment, Receipt, Sales, Purchase, etc.)

Preparing trial balance, profit & loss account, and balance sheet

3. Inventory Management

Stock item creation

Managing stock categories and stock groups

Recording inventory transactions

Inventory reports and valuation

4. Taxation in Tally ERP 9

GST setup in Tally ERP 9

Creating GST-compliant invoices

Filing GSTR-1 and GSTR-3B

TDS and TCS management

5. Payroll Management

Employee creation and payroll setup

Salary, allowances, and deductions configuration

Generating payslips and payroll reports

EPF and ESI compliance

6. Advanced Tally Features

Cost centers and cost categories

Multi-currency management

Budgets and scenario management

Audit and security controls

7. GST in Tally ERP 9

GST registration process

GST calculation and reporting

Input tax credit management

Creating GST returns in Tally

8. Job Placement Assistance

Resume building

Interview preparation

Job placement support

Top Tally ERP 9 Institutes Near You in Mohali

Here are the top-rated Tally ERP 9 training institutes in Mohali that offer comprehensive courses for students and professionals:

1. Mohali Career Point (MCP)

Mohali Career Point is a leading institute offering a complete Tally ERP 9 with GST course. Their curriculum is designed for beginners and professionals, ensuring you get a deep understanding of all features of Tally ERP 9.

Course Highlights:Complete Tally ERP 9 with GST training

Practical sessions on taxation, payroll, and inventory

Real-world projects and case studies

Certification upon course completion

Job placement assistance

Mode: Classroom and online

Duration: 2-3 months

Certification: Tally ERP 9 with GST certification

Contact: +91 7696 2050 51

2. Tally Academy Mohali

Tally Academy Mohali provides specialized training in Tally ERP 9 with a focus on real-world application. This institute is known for its industry-relevant training modules and experienced faculty.

Course Details:Hands-on training in Tally ERP 9

GST integration and compliance

Payroll and inventory management

Certification and job assistance

Mode: Online and offline

Contact: +91 9876 5432 10

3. ABC Institute of Technology

ABC Institute of Technology offers a well-structured Tally ERP 9 course that covers all aspects of accounting, taxation, and payroll. This institute is ideal for working professionals who need flexible class timings.

Course Overview:Tally basics and advanced features

GST compliance and reporting

Financial statements preparation

Job assistance and certification

Mode: Classroom and virtual classes

Contact: +91 8765 4321 09

4. Tally Pro Academy

Tally Pro Academy focuses exclusively on Tally ERP 9 and related accounting software. Their Tally ERP 9 course is comprehensive, covering all the critical features required to manage a business effectively.

Course Features:Complete training in Tally ERP 9

GST, TDS, and payroll management

Practical learning with real-world case studies

Certification and placement support

Mode: Online and offline classes

Contact: +91 9987 6543 21

Benefits of Learning Tally ERP 9 in Mohali

Affordable Fees: Compared to larger cities, Tally ERP 9 courses in Mohali offer high-quality training at lower costs.

Expert Trainers: Mohali has several top-notch institutes with trainers who are industry experts in accounting and finance.

Job Opportunities: The growing business environment in Mohali provides ample job opportunities for individuals skilled in Tally ERP 9.

Practical Learning: The institutes in Mohali focus on hands-on learning through real-life projects and case studies, ensuring you gain practical experience.

Career Opportunities After Tally ERP 9 Training

After completing a Tally ERP 9 course, you can explore a variety of career paths, including:

Accounts Executive

Accountant

Senior Accountant

Finance Executive

Tally Operator

GST Practitioner

Payroll Executive

With the growing need for financial management and compliance, Tally ERP 9 professionals are in demand across industries.

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Pan Card in USA

The Permanent Account Number (PAN) card is a unique 10-digit alphanumeric identifier issued by the Indian Income Tax Department. While it is primarily associated with Indian citizens, NRIs (Non-Resident Indians), PIOs (Persons of Indian Origin), and even foreigners who engage in financial transactions in India often need to obtain a PAN card. Here’s a comprehensive guide for understanding PAN card in USA.

Why NRIs and Foreigners in the USA Need a PAN Card

Investing in India: NRIs and foreigners who wish to invest in the Indian stock market, mutual funds, or real estate are required to have a PAN card. It serves as a means to track all financial transactions and ensures compliance with Indian tax laws.

Opening Bank Accounts: To open a bank account in India, especially a Non-Resident External (NRE) or Non-Resident Ordinary (NRO) account, a PAN card is necessary. It helps in linking all financial activities and assists banks in reporting financial transactions to the tax authorities.

Filing Tax Returns: If an NRI or foreigner earns income in India, whether through investments, business operations, or property, a PAN card is mandatory for filing income tax returns. It helps in avoiding tax deduction at source (TDS) at higher rates.

Conducting Financial Transactions: High-value transactions, such as buying property or vehicles, remittances, and large financial dealings, require a PAN card for verification purposes.

Apply Pan card in usa

If you want to apply pan card in usa so you can contact us +1 (416) 996–1341 or pancardservice253@gmail.com to apply pan card in usa.

1- Visit this site indianpancardusa.com 2- And Go to application form of apply for pan card 3- fill the details 4- Upload documents 5- submit the application form.

Conclusion

PAN card in USA is a crucial step for NRIs, PIOs, and foreigners who have financial interests in India. It not only facilitates compliance with Indian tax laws but also simplifies a range of financial transactions. The process is straightforward, and with the advent of online applications, getting a PAN card has become more accessible than ever.

Contact us Phone:- +1 (416) 996–1341 Email Us:- pancardservice253@gmail.com

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Tax Filing: what is it and all you need to know

What is Tax Filing?

Tax filing refers to submitting tax returns to the government, typically to the Income Tax Department in India. A tax return is a formal statement containing information about an individual's or business's income, deductions, exemptions, and tax liabilities. The primary purpose of filing tax returns is to report your income to the government and pay any taxes owed

The taxes collected through E-Filing this process are used for a variety of purposes, including healthcare, education, defence, and social welfare programs. Tax planning is the smartest decision you can make as a taxpayer for which you need an Expert Chartered accountant for Tax filing near you in Kolkata. . It enables you to eliminate guesswork from the tax process. 

Tax filing is mandatory for individuals and entities whose income exceeds the basic exemption limit income tax exempt

For an individual below 60 years of age, the basic exemption limit is of Rs 2.5 lakh. For senior citizens (aged 60 years and above but below 80 years) the basic income exemption limit is of Rs 3 lakh)

Types of Income Tax Return Forms

The Income Tax Department of India has prescribed 7 types of ITR forms -

ITR-1 (filed by resident individuals having total income up to ₹ 50 lacs ).

ITR-2( Individuals who don’t have income from profits and gains from business).

ITR-3 ( Individuals who have income from profits and gains from business).

ITR-4 (residents having total income up to ₹ 50 lacs and having income from business or profession).

ITR-5 (Co-operative societies, firms, Artificial Juridical Persons, Associations of Persons, local authorities, and Bodies of Individuals are eligible.

ITR-6 (This form can be filed by any company only through online mode.

ITR-7 (This form can be used only by political parties, religious or charitable trusts)

and the applicability of the form will depend on the nature and amount of income and the type of taxpayer.

Steps Involved In Tax Filing

Here are the essential steps involved in the tax filing process:

Gather Necessary Documents: The first step in filing your taxes is to collect all the relevant documents that detail your income, deductions, and tax payments. These include Form 16 (issued by your employer), bank statements, investment proofs, home loan certificates, and Form 26AS (a consolidated tax statement).

Choose the Right ITR Form: Depending on your income source, you need to select the appropriate Income Tax Return (ITR) form. For example, salaried individuals typically file ITR-1, while business owners may need to file ITR-3 or ITR-4. Choosing the correct form is crucial as filing the wrong form may lead to rejection of your return.

Calculate Your Income and Deductions: Once you have your documents in place, calculate your total income from all sources, including salary, business income, rental income, and capital gains. Deduct eligible expenses and exemptions under various sections of the Income Tax Act, such as Section 80C (investments in PPF, ELSS, etc.) and Section 24 (home loan interest).

Compute Tax Liability: After calculating your total income and deductions, compute your tax liability using the applicable income tax slab rates. Ensure that you account for any advance tax payments, TDS, or self-assessment tax already paid.

File the Return Online: Tax returns can be filed electronically through the Income Tax Department's e-filing portal. You need to log in using your PAN, upload the relevant ITR form, and submit the return. Once submitted, you will receive an acknowledgement, which you need to verify either electronically (using Aadhaar OTP, EVC, or net banking) or physically by sending a signed ITR-V form to the Centralized Processing Center (CPC) in Bengaluru.

Verify the Return: Filing your tax return is incomplete until it is verified. Verification confirms that the information provided in your return is accurate and complete. Once verified, your return is processed by the Income Tax Department, and any refunds due will be credited to your bank account.

Common Challenges in Tax Filing

Tax filing, while straightforward in theory, can present several challenges in practice. Some of the common difficulties faced by taxpayers include:

Complex Tax Laws: Tax laws in India are intricate and subject to frequent changes. Understanding the various provisions, deductions, exemptions, and slab rates requires expertise. This is where consulting with Cap and Associate Kolkata or the best Chartered Accountant for tax filing in Kolkata can make a significant difference.

Selecting the Correct ITR Form: With multiple ITR forms available, selecting the right one can be confusing. Filing the wrong form may lead to delays, notices, or even penalties.

Missing Documents: Failing to gather all the necessary documents, such as investment proofs or TDS certificates, can result in errors in your return, leading to discrepancies or denial of refunds.

Errors in Calculation: Manual calculation of income, deductions, and tax liability increases the risk of errors. Using tax filing software or seeking professional assistance can help mitigate this risk.

Delays in Filing: lack of understanding can lead to delays in filing returns, resulting in penalties and interest charges. It is advisable to start the process early to avoid the last-minute rush.

The Role of Chartered Accountants in Tax Filing

Given the complexities involved in tax filing, many individuals and businesses prefer to seek professional help from Caps and AssociatesChartered Accountants (CAs) are experts in tax laws and can provide valuable assistance in filing accurate and timely returns. They can help you with tax planning, identifying eligible deductions, ensuring compliance, and representing you in case of scrutiny or disputes with the tax authorities.

Choosing the best Chartered Accountant for tax filing in Kolkata can simplify the entire process and give you peace of mind. Experienced CAs, such as Cap and Associate Kolkata, offer personalized services tailored to your unique financial situation. They stay updated with the latest tax laws and regulations, ensuring that your return is filed correctly and on time.

Conclusion

Tax filing is a critical financial responsibility that requires careful attention to detail. Whether you are an individual taxpayer or a business owner, understanding the basics of tax filing can help you stay compliant and avoid unnecessary penalties. While the process may seem challenging, especially given the complexity of tax laws, seeking professional guidance from the  Caps and Associates best Chartered Accountant for tax filing in Kolkata can make a world of difference. 

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How to Track Your Online Income Tax Return Filing Status

Income Tax Return Filing Online: A Guide to Hassle-free Compliance

Filing income tax returns (ITR) is a crucial annual obligation for every taxpayer in India. The process has been significantly streamlined with the advent of online filing systems, making it more convenient and accessible than ever before. Here’s a comprehensive guide to help you navigate the online ITR filing process seamlessly.

Why File Income Tax Returns Online?

Online filing offers several advantages over traditional paper filing:

Convenience: File from anywhere, anytime, reducing dependency on physical visits to tax offices.

Accuracy: Built-in validation checks minimise errors, ensuring your return is filed correctly.

Speed: Instant acknowledgement and quicker processing by tax authorities.

Security: Data encryption and secure authentication protocols protect your personal and financial information.

Steps to File Income Tax Return Online

1. Preparation: Gather Documents and Information

Before you begin, ensure you have the following:

PAN: Permanent Account Number

Form 16: Issued by your employer, detailing your income and tax deducted at source (TDS).

Bank Statements: Statements showing interest earned on savings accounts and fixed deposits.

Investment Proofs: Details of investments eligible for deductions under Section 80C, 80D, etc.

Other Income Documents: Any income from house property, capital gains, or other sources.

2. Choose the Correct Form

Select the appropriate ITR form based on your income sources:

ITR-1 (Sahaj): For salaried individuals with income up to ₹50 lakh, one house property, and income from other sources.

ITR-2: For individuals and HUFs having income from more than one house property, capital gains, etc.

ITR-3: This is for individuals and HUFs with income from business or profession.

3. Register on the Income Tax Department’s e-Filing Portal

Register on the portal using your PAN if you're a new user. Existing users can log in with their credentials.

4. Fill and Submit the Form

Download the applicable ITR form and fill in the details offline or online.

Validate the form using built-in validation utilities.

Submit the form. You may digitally sign it using Aadhaar OTP or DSC (Digital Signature Certificate) or submit it without a signature.

5. Verification

After submitting the form, verify your return within 120 days of filing. You can verify electronically through Aadhaar OTP or EVC (Electronic Verification Code) or by sending a signed physical copy to the CPC Bengaluru.

6. Acknowledgment and Processing

Upon successful verification, the Income Tax Department will process your return. You will receive an acknowledgement (ITR-V) via email. This serves as proof of filing until the return is processed.

Tips for Smooth Filing

Keep Records: Maintain records of income, deductions, and investments throughout the year.

Stay Updated: Be aware of changes in tax laws and filing procedures.

Seek Assistance: Consult a tax professional for complex scenarios or filing questions.

Filing income tax returns online ensures compliance with tax laws while leveraging technology for a hassle-free experience. Embrace the convenience and efficiency of e-filing to manage your tax obligations effectively.

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You certainly need Trademark Registration with the aim of protecting the uniqueness of your business, product, or service. For the Best Online Trademark Registration, contact us.

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MSMEs, which include micro, small, and medium-sized businesses, have emerged as a flourishing sector of the Indian economy in recent years, playing an essential role in the country's socioeconomic improvement. These businesses are very helpful in creating jobs, producing goods, and exporting products. The duty of promoting and encouraging the growth of MSMEs mainly falls under the state governments

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How do I file TDS for a company?

Filing Tax Deducted at Source (TDS) is an essential compliance task for companies in India. It ensures that taxes are collected at the source of income and remitted to the government. If you're looking for guidance on how to file TDS for your company, this article provides a step-by-step approach to help you navigate the process efficiently. At SAP TAX HUB, we offer expert TDS Filing Services in Delhi to make this task seamless for businesses.

Step 1: Obtain a TAN

The first step in filing TDS is to obtain a Tax Deduction and Collection Account Number (TAN) from the Income Tax Department. This number is mandatory for deductors and can be obtained online by filling out Form 49B on the NSDL website. Once you have your TAN, you can proceed with TDS compliance.

Step 2: Deduct TDS at the Correct Rate

TDS must be deducted at the prescribed rates on various payments such as salaries, interest, dividends, rent, and professional fees. The rates are specified under different sections of the Income Tax Act. Ensure you refer to the latest TDS rates and deduct the appropriate amount before making any payment.

Step 3: Deposit TDS with the Government

The deducted TDS must be deposited with the government by the 7th of the following month. This can be done online through the NSDL website using Challan 281. Ensure you accurately fill in the details such as TAN, assessment year, and the nature of payment while making the deposit.

Step 4: File TDS Returns

Filing TDS returns is a crucial step in TDS compliance. Companies are required to file quarterly TDS returns in Form 24Q for salaries and Form 26Q for other payments. The due dates for filing these returns are:

Quarter 1 (April-June): 31st July

Quarter 2 (July-September): 31st October

Quarter 3 (October-December): 31st January

Quarter 4 (January-March): 31st May

These returns can be filed online through the TIN NSDL portal. Ensure all details such as deductee details, TDS deducted, and TDS deposited are accurately reported.

Step 5: Issue TDS Certificates

After filing TDS returns, companies must issue TDS certificates to the deductees. Form 16 is issued for salaries, and Form 16A is issued for other payments. These certificates should be provided to the deductees by 15th June for the previous financial year.

Conclusion

Filing TDS can be a complex process, but with careful attention to detail and adherence to timelines, it can be managed effectively. For businesses seeking professional assistance, SAP TAX HUB offers expert TDS Filing Services in Delhi. Our team of experienced professionals ensures compliance with all TDS regulations, helping your business stay on the right side of the law.

For more information or to avail our services, contact SAP TAX HUB today and streamline your TDS filing process.

[sonalj]

TDS/TCS Return Due Date for FY 2024-25 (AY 2025-26)

TDS Due Dates of FY 2024-25 For Return Filing TDS simplifies tax filing for individuals and businesses. To navigate the process smoothly, you must stay aware of applicable payments, accurately deduct expenses, and file returns on time.

TDS, or Tax Deducted at Source, is a method used by the government to collect taxes directly at the source of income. In this system, the payer, such as an employer, deducts a portion of your income and remits it to the government on your behalf.

Navigating the complexities of taxes can often be overwhelming. TDS plays a crucial role in ensuring efficient tax collection in India. This blog will guide you through the TDS return filing due date for the financial year 2024-25, helping you stay informed and compliant with your tax obligations.

Process for Filling TDS Return for the FY 2024-25 Here is a step-by-step guide on how to fill and submit your TDS return for the financial year 2024-25 (Assessment Year 2025-26):

Gather Information Ensure you have a valid Tax Deduction and Collection Account Number (TAN). Collect all the challan details (payment slips) for the TDS deposited throughout the quarter. Organize your TDS records, including payee PAN details, nature of payments, and TDS deducted amounts. Choose the Right Form Use Form 24Q for salary payments. Use Form 26Q for other payments like interest, professional fees, rent etc. (domestic transactions). Use Form 27Q for payments to non-residents/foreign companies (except those covered by Form 26QB). Online Filing Process Access the Income Tax Department e-filing portal. Enter your user ID, password, and captcha code to log in. Navigate to the TDS section on the portal. Select the “Upload TDS” option and choose the appropriate form (24Q, 26Q, or 27Q) filled with your TDS data. The portal typically allows uploading the data in a specific format. You may need to download the format from the website and populate it with your information. The portal may prompt you to validate certain details in the uploaded file. Review and confirm the details. Once validated, submit the TDS return electronically. You might also be able to sign it digitally.