TDS is an acronym for Tax Deducted at source. As per Income Tax Act, any company, HUF, LLP or individual carrying business/profession is liable to deduct TDS and deposit the same to the Government according to rates specified by government from time to time.
The person deducting the TDS is known as deductor and person receiving the payment after getting TDS deducted is known as deductee. It is responsibility of deductor to deduct the TDS before making payment to deductee and deposit the same to the Government.
For deducting TDS, deductor needs a unique ten digit alphanumeric number known as Tax deduction and collection account number /TAN number. After deducting TDS, deductor needs to file quarterly return with Income Tax Department with the details of transaction that has taken place.
We at helpurstartup.in provides support for getting TAN number and filling TDS returns.
TDS Registration @Rs. 999/-
Rate of TDS Deduction
|Under IT Section||Threshold Limit*||TDS Slab Rate|
|Section 192||As per applicable income slab||As per income tax slab rate|
|Section 193||₹ 5000 for debenture payment||10% of the interests earned on security investments.|
|Section 194||₹ 2500||10% of proceeds from any deemed dividends|
|Section 194A||₹ 10,000||10% of proceeds from interests earned on investments other than securities|
|Section 194B||₹ 10,000||30% of prize money on lottery or gaming related winnings|
|Section 194BB||₹ 10,000||30% of prize money from horse racing|
|Section 194C||₹ 30,000|
which is for each contract, whereas ₹ 100,000 is for p.a.
Proceeds from any contracts/subcontracts
|Section 194D||₹ 15,000||5% of earning as insurance commissions|
|Section 194EE||₹ 2,500||20% of expense in NSS deposits|
|Section 194F||NIL||20% of investment in MF or UTI units|
|Section 194G||₹ 15,000||5% of the commission money from lottery ticket selling.|
|Section 194H||₹ 15,000||5% of the brokerage earnings|
|Section 194I||₹ 1,80,000||2% on rental amount of plant & machinery/|
10% on the rent of land & building
|Section 194J||₹ 30,000 p.a||10% on the technical/professional services|
|Section 194LA||₹ 2,50,000||10% on the transfer money paid to any resident while acquiring an immovable property|
Procedure For TAN Registration
Complete our Simple Form
You need to fill our simple company registration form and submit documents for formation of a company.
We give you Legal Consultation.
We will create all the required documents and file them with ROC on your behalf.
Your work is completed
Once your company is incorporated, we shall send you all the documents and DSCs.
Price For TAN Registration
Frequently Asked Questions
PAN is 10 digit alpha numeric number that is issued to every tax payer where as TAN is 10 digit alpha numeric number issued to tax payer liable to deduct TDS.
TDS returns are to be filled for every quarter of financial year.
31st of every January,May,July,October are due dates for filling TDS returns. Any delay will result in penalty of Rs.200 pm or TDS amount whichever is lower.
In case of non deduction of TDS, the deductor is liable for following consequences:-
- Disallowance of expenditure under section 40 (A)(i)
- Levy of interest under section 221
- Levy of penalty under section 271C for TDS non deduction
- Prosecution under section 276B
Indiviual/LLP/ Company/HUF liable to deduct TAX is required to obtain TAN.
Following details are required for obtaining TAN
- Name of Applicant
- Address of Applicant
- Phone no. & Email id of Applicant
- PAN of Applicant