Skip to main content

vinayassociates.co.in

  • Info@vinayassociates.co.in
+91 97823 48123 | +919829638622
Menu
+91 97823 48123 Get in Touch

TDS / TCS

Overview

TDS/TCS

Vinay Associate's TDS/TCS services are designed to help businesses comply with the statutory requirements for tax deduction at source and tax collection at source. We manage the entire process, from calculating the correct amounts to filing quarterly returns and issuing certificates to deductees, ensuring seamless compliance with all regulatory obligations.

Deducted at Source Quarterly Returns Certificates Issued

Key Advantages:

  • We assess the total TDS/TCS amounts to be paid each month, ensuring accuracy and compliance with statutory rates and regulations.
  • Our team ensures that all TDS/TCS returns are filed on time, avoiding penalties and interest for late submissions.
  • We handle the issuance of TDS/TCS certificates to the respective parties, providing proof of deduction and compliance.
  • Our services include detailed recommendations on meeting TDS/TCS provisions under various sections of the tax laws, helping businesses stay compliant with the latest regulations.

Additional Services:

  • Periodic reviews of your TDS/TCS compliance to identify any discrepancies or areas for improvement.
  • Training and Education: Conducting training sessions for your finance team on TDS/TCS compliance and best practices.
  • Assistance in resolving disputes with tax authorities related to TDS/TCS matters, including representation during assessments and appeals.
  • We generate detailed reports on TDS/TCS transactions, helping businesses monitor their compliance status and make informed decisions.

Recent Regulatory Updates

Last reviewed — August 2026
Effective 1 April 2026 TDS and TCS Under the New Act

With the Income-tax Act, 2025 in force, the withholding provisions previously scattered across the 1961 Act have been brought together into a single structured chapter with renumbered sections. Internal references and deduction masters should be updated accordingly.

Effective 1 April 2025 Section 194T — Payments to Partners

Partnership firms must deduct tax at 10% on salary, remuneration, commission, bonus or interest paid or credited to a partner, once the aggregate to that partner crosses ₹20,000 in a financial year. Deduction applies at the earlier of credit or payment.

Each Budget cycle Rates Are Revised Annually

Withholding rates and thresholds, particularly on the TCS side, are revised through the annual Finance Act. Rate masters in accounting and payroll systems should be reviewed at the start of each financial year and before each quarterly return.