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About TDS Services

TDS (or) Tax Deducted at Source is a scheme of tax collection in India under which a certain percentage of a person’s income is deducted at the source of payment and is remitted directly to the government by the person responsible for making such payment. Any person making payments in the nature of salary, interest, rent, commission, professional fees etc., is liable to deduct TDS and shall deposit such amount within the prescribed time limit to the Government.

In India, TDS is administered by the Income Tax Department and is governed by the Income Tax Act of 1961. Tax is deducted at source to ensure that every person pay their taxes in a timely and efficient manner. It is a way the Government collects the taxes in advance for the income earned by the assessee.

The rate of TDS depends on the nature of payment and type of payer/payee. Some of the frequently used TDS Sections are:

BCL India provides services on these above major sections as well as other sub sections to keep you compliant and away from interest and penalties.

Tax deducted during the month of April to February should be paid to the credit of the Government on or before 7 days from the end of the month in which the deduction is made and tax deducted during the month of March should be paid to the credit of the Government on or before 30th day of April.

The TDS return should be filed on a quarterly basis within the last day of the month falling after the quarter, however for the last quarter Jan- March, the due date for filing the TDS return would be May 31st.

Basic Regulations:

Late filing fee and penalty on failure to file the TDS return:

Interest Rates:

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