We provide complete outsourcing solutions in the areas of TDS (both Salaries & Non-Salaries). Our professional team takes care of smallest detail such as correct rate of TDS, entry of correct PAN in the return and verification of TDS challan details. We also help you generate and issue TDS certificates in form16A, Form 16 and Form 12BA. Beside all this you will get regular update on changes in Income Tax Law and procedure through our professional update mails.
It is the duty of the person who is making payment to someone for specified goods or services to deduct TDS and file TDS return. The specified payment includes salary, interest, commission, brokerage, professional fees, royalty, contract payments, etc. The person who deducts TDS is called deductor and the person whose tax is being deducted is called deductee. TDS is not required to be deducted by Individuals and HUF except for those whose accounts are required to be audited u/s 44AB i.e. whose gross receipts in preceding financial year in case of business is more than 2 crore (AY 2017-2018) or 1 crore ( AY 2016-2017) and in case of profession 50 lakhs ( AY 2017-2018) or 25 lakhs (AY 2016-2017).
Form 16 is the certificate issued under section 203 of the Income tax Act for tax deducted at source (TDS) from income under the head ‘salary’. It is issued on deduction of tax by the employer from an employee’s salary and deposit of the same with the government. The TDS CPC is responsible for the generation of the Form 16 on the basis of the quarterly TDS and TCS statements processing. We will help you to raise a request for the same.
