TDS / TCS Return Filing
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TDS / TCS Return Filing
Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are mandatory mechanisms under the Income Tax Act, designed to collect tax at the point of payment or sale. Non-compliance can result in heavy penalties, interest, and notices from the Income Tax Department.
At MyCompanyRegister (Magaputra Consultancy Pvt. Ltd.), we provide complete TDS and TCS compliance services, ensuring correct deduction/collection, timely deposits, and accurate return filing.
What is TDS?
TDS is a system where a person or business making certain payments (such as salary, rent, interest, commission, or professional fees) deducts tax at the prescribed rate and deposits it with the government.
The deductor is legally responsible for:
Correct deduction
Timely payment
Filing quarterly TDS returns
What is TCS?
TCS is a system where the seller collects tax from the buyer at the time of sale of specified goods or services and deposits it with the government.
The seller must:
Collect tax at prescribed rates
Deposit TCS on time
File TCS returns accurately
Common Types of TDS We Handle
TDS on Salary (Section 192)
TDS on Interest (Section 194A)
TDS on Rent (Section 194I)
TDS on Commission / Brokerage (Section 194H / 194D)
TDS on Professional & Technical Fees (Section 194J)
TDS on Contract Payments (Section 194C)
Common Types of TCS We Handle
TCS on Sale of Goods (Section 206C)
TCS on Specified Services
TCS on E-commerce Transactions
We ensure correct applicability and rate selection to avoid disputes.
TDS / TCS Rates
TDS and TCS rates vary based on:
Nature of payment or sale
PAN availability
Applicable Income Tax provisions
Incorrect rates can trigger notices. We apply rates strictly as per law.
TDS / TCS Return Filing
TDS and TCS returns are required to be filed quarterly with the Income Tax Department. Our services include:
Challan preparation and tax deposit
Quarterly return filing (Forms 24Q, 26Q, 27Q, 27EQ)
PAN verification and reconciliation
Correction statements, if required
Issuance of Form 16 / 16A
Penalties for Non-Compliance
Failure to comply with TDS/TCS provisions may result in:
Interest on late deduction or deposit
Late filing fees
Penalties and prosecution
Disallowance of expenses in income tax assessment
Professional handling significantly reduces these risks.
Benefits of Our TDS & TCS Services
Accurate deduction and collection
Timely deposits and filings
Reduced risk of penalties and notices
Proper reconciliation and reporting
Peace of mind through professional compliance
Why Choose MyCompanyRegister?
Experienced tax compliance professionals
End-to-end TDS/TCS management
Transparent pricing with no hidden charges
Timely reminders and compliance tracking
Support for notices and corrections
Stay Compliant. Stay Penalty-Free.
TDS and TCS compliance mistakes are costly and avoidable. Let experts handle it correctly.
Contact us today for reliable TDS & TCS compliance services.