End-to-end TDS compliance — deduction, deposit, returns, and Form 16/16A issuance
Tax Deducted at Source (TDS) is a mechanism by which the government collects tax at the point of income generation. Employers, businesses, and individuals making specified payments are required to deduct TDS and deposit it with the government.
Non-compliance with TDS provisions can attract heavy penalties, interest charges, and even prosecution. At Paras Finance, we handle all aspects of TDS compliance — from TAN registration to quarterly return filing and Form 16/16A generation.
We serve employers (salary TDS), businesses (payments to contractors, professionals, rent, etc.), and individuals to ensure complete compliance with zero risk of penalty or notice from the Income Tax Department.
TAN (Tax Deduction Account Number) is a 10-digit alphanumeric number required by any person or entity responsible for deducting TDS. It is mandatory to quote TAN on all TDS-related documents.
Late deposit of TDS attracts interest at 1.5% per month from the date of deduction. Late filing of TDS returns attracts a penalty of ₹200 per day under Section 234E, subject to a maximum of the TDS amount.
Form 16 must be issued by the employer to all employees by June 15th each year for the preceding financial year. It is the TDS certificate for salary income.
Form 16 is issued for TDS deducted on salary. Form 16A is issued for TDS deducted on non-salary payments like interest, commission, rent, professional fees, etc.
Yes, deductees can apply for a lower deduction or nil deduction certificate from the assessing officer using Form 13. We assist in preparing and filing Form 13 applications.
Our experts are available to guide you through the entire process with ease.