ROC Filing

What Is ROC Filing? ROC filing means the filing of audited financial statements, and annual returns, by the company to the ROC

What are ROC Filing?

TDS Return is required to be filed by any person who is liable to deduct tax at source.  A TDS Return is a quarterly statement which has to be submitted to the Income Tax Department of India. Submitting TDS Return is mandatory if you are a deductor. It should contain all details of TDS deducted and deposited by you for a particular quarter.

 

The first requirement for filing a TDS Return is to obtain a valid TAN (Tax deduction account number). You need to assess if you are required to deduct TDS on which payments. Usually, all types of payments such as Salaries, Interest, Professional Fees, Payment to Contractors, Rent of Machinery, Rent of Building etc are covered under liable payments.  There are prescribed rates for every type of TDS payments under the income tax act 1961.

To revive the economy and help the taxpayers while the COVID 19 crisis is prevailing in India, the FM Minister on 13th may 2020 announced new TDS rates by reducing 25% for non-salaried section. This reduction shall be applicable for the remaining part of the FY 2020-21. These new rates will be in force from the 14th of May, 2020 to 31st March 2021.  Payment for contract, professional fees, interest, rent, dividend, commission, brokerage, etc. shall be eligible for this reduced rate of TDS.

 

That means if you were liable to pay TDS at the rate of 10% earlier now you will have to pay the TDS at the rate of 7.5% only.

Price and Plan

Price may varies for different states in India
ESSENTIAL
₹ 599/-
(All Inclusive)
  • One TDS Return upto 10 entries

ENHANCED
₹ 5999/-
(All Inclusive)
  • TDS Returns for 1st Quarter

  • TDS Returns for 2nd Quarter

  • TDS Returns for 3rd Quarter

  • TDS Returns for 4th Quarter

  • Form 24Q, 26Q and 27Q (as applicable) upto 500 entries for 1 Year

  • Form 16A on a quarterly basis

  • Form 16 on an annual basis for upto 5 employees

ULTIMATE
₹ 8999/-
(All Inclusive)
  • TDS Returns for 1st Quarter

  • TDS Returns for 2nd Quarter

  • TDS Returns for 3rd Quarter

  • TDS Returns for 4th Quarter

  • Form 24Q, 26Q and 27Q (as applicable) upto 1000 entries for 1 Year

  • Form 16A on a quarterly basis

  • Form 16 on an annual basis for upto 10 employees

TDS Returns filing-Mandatory norms

Quarterly returns

Due date of quarterly filing of TDS return are as follows (Due Dates for all quarters extended till 31.03.2021)
– April-June – 31st July
– July-September – 31st October
– October-December – 31st January
– January-March – 31st May

Return forms

Form 26Q is return form which is filled in to provide details of Non-Salary TDS. Form 24Q is return form, used to provide details of Salary TDS, while Form 27Q is used for details of Non-resident payments.

Late filing

Late filing of TDS Return attracts late fees of Rs. 200/- per day of default on filing. It is advisable to file returns in time or you will have to pay the late fees. This is a mandatory fees for late filing of TDS and can not be avoided.

Documents Required for TDS Returns

Quick Checklist

  • Your TAN

  • Challans of TDS payment

  • Details of deduction

TAN and Challans

  • All we need is your TAN and challans of TDS paid by you. An acknowledgment of TDS amount deposited online will be generated from your bank website. All you need to provide is this two information to get going.

TDS Returns-Process Flow

  1. We receive TAN and Challans

  2. You fill in a simple excel template

  3. Your return is prepared

  4. Your return is submitted

  5. You receive return acknowledgement