TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) are vital mechanisms used by the Income Tax Department of India to collect taxes at the very source of income or transaction. Accurate and timely filing of TDS and TCS return filings ensures legal compliance and avoids interest, penalties, or disallowance of expenses.
At KK Reddy & Associates, Nanakramguda, we provide expert guidance and filing support to companies, professionals, and businesses that handle tax deduction and collection responsibilities.
What is TDS?
TDS is a system where the payer deducts tax before making specific payments, such as salary, rent, commission, interest, professional fees, and more, and deposits it with the government.
Common sections where TDS is applicable:
– 192: Salary
– 194C: Contractor Payments
– 194H: Commission
– 194J: Professional Fees
– 195: Payments to Non-Residents
What is TCS?
TCS refers to the tax collected by a seller from the buyer at the time of sale of certain goods or services.
Common examples include:
– Sale of scrap, minerals, liquor
– Sale of motor vehicle above ₹10 lakh
– TCS under Section 206C(1H) for goods exceeding ₹50 lakh annually
TDS and TCS Return Filings Due Dates
– Quarterly filing is mandatory (Form 24Q for salary, 26Q for non-salary TDS)
– Due dates: 31st July, 31st October, 31st January, and 31st May for Q1 to Q4 respectively
– TCS returns are filed in Form 27EQ on a similar quarterly basis
How KK Reddy & Associates Helps You
✅ TDS/TCS Registration and Setup
✅ Accurate deduction/collection calculations
✅ Filing of quarterly TDS/TCS returns with Form 27A
✅ Generating and verifying Form 16/16A for employees and vendors
✅ PAN verification and error-free data entry
✅ Responding to defaults or notices from TRACES or CPC-TDS
Our expertise ensures no late fees (Section 234E) or penalties for incorrect filings (Section 271H).
Common Mistakes Businesses Make
– Deducting TDS but not depositing it on time
– Wrong PAN or section code entry
– Delays in issuing Form 16/16A to vendors or employees
– Missing TCS under Section 206C(1H) for high-value sales
Why Choose KK Reddy & Associates for Tds and Tcs Return Filings
Located in Nanakramguda, Hyderabad, we serve clients in IT, real estate, trading, manufacturing, and services.
Whether you handle large vendor payments or high-value sales, we ensure your TDS and TCS compliance is accurate, timely, and hassle-free.
Contact Us Today
📍 Address: Flat No. 207, Opp to Golf View Apartments, Nanakramguda, Hyderabad.
📧 Email: info@kkreddyassociates.com
☎️ Call: +91-9989107350
🌐 Website: https://www.kkreddyassociates.com/TDS-And-TCS-Return-Filings-Service-Hyderabad
