About This Plan

TDS stands for Tax Deducted at Source is a process of Government of India to which the source collecting of tax when the transaction of payment takes place. Through this process, tax is deducted at the time of payment or the time when the amount is credited to the payee’s account- whichever goes earlier.

In case of a life insurance policy or payment of salary is disbursed to the payee, the TDS has been deducted at the time of payment. The company or deducting body deposits the TDS then to the Income Tax department. This process helps to add the deducted amount directly to the I-T department. This is why TDS is well-thought-out as the right method of reducing tax ducking.

The TDS deducted amount generally cover over a range of 0% to 30% according to the income. A surcharge of 10 and 15 percent will be added to the previous count if the income exceeds 50 lakh and 1 crore respectively with 3 percent education cess. However, the current government rule waves off the TDS up to 5 lakh of income per year.  If TDS is deducted, you will get it to return under this slab.  You have to file it to get it back.

Service covered under the TDS return

• Registration on TRACES
• Validation of TDS data
• TDS calculation
• Chillan verification
• Generation of FVU and its submission
• Downloading of the form 16/16A

Documents Requied

• Details of the deducting authority
• Details of the person to be deducted
• The details of the amount deducted 
• The particulars of a responsible person
• Copies of deposited Challans