To comply with tax deduction regulations, a person who is liable to deduct tax at source must file a TDS return. This return is submitted by the tax deductor every quarter to the Income Tax Department and contains information about the tax collected, its source, and the amount paid to the government for the reporting period. It is an essential statement for compliance with tax regulations.
Tax is typically deducted from various transactions such as salaries, payments to professionals and contractors, rent payments exceeding a certain amount, and more. Each of these transactions has a prescribed rate of interest. The deductee can claim the tax benefit of the amount deducted while filing their Income Tax Return (ITR), but only if the deductor has filed the TDS return on time with the Income Tax Department.
The Tax Account Number of the deductor
Acknowledgement receipt of the tax paid to Government
Provide us details of the tax deducted
Details of the inward and outward taxable supplies along with details of invoice
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