Every person or entity who has deducted TDS while disbursing salary to its employees is required to file your quarterly TDS returns. A delay in filing the returns attracts interest and penalty levied by the Tax Department. ClearTax provides you with a prompt mechanism to comply with all the TDS compliance on account of salary payment.
TDS or Tax Deducted at Source, is a type of tax levied by the Indian government wherein taxes are collected on the basis of 'pay as you get'. The taxes are deducted at the source of payments such as salary paid to an employee or commission earned by a broker.
The taxe is deducted by the employer before making the payment to employee and is deposited with the govt. The employer later issues form 16 to its employees which serves as a proof of tax payment in the hands of employee.
If the expenditure incurred/payment made during the year is below the threshold limit, then there is no requirement to deduct tax at source. If net taxable income is less than maximum amount which is not chargeable to tax
For certain people, it is compulsory to be submit the quarterly return online. If the deductor is :
In case you have not deposited TDS by the due date, the following penalties are applicable:
Revised return filing on account of incorrect information provided by the assessee during the original return filing shall not form part of the plan.
Our plan caters to filing TDS returns for up to 100 employees. If your firm has more than 100 employees, our representatives will advise you on the fees. Please submit your enquiry here or write to us at firstname.lastname@example.org