Customer care numbers: +91 9137351396
Business Support: +91 8767805809 / +91 7715923881
IT Support: +91 9664685455
Company e-Mail: info@werconsultants.com
For support: support@werconsultants.com , mail@werconsultants.com
For service related grievances or complains call us at +91 8767805809/+91 7715923881 or send email toinfo@werconsultants.com
REGISTERED OFFICE / CORPORATE OFFICE
WeR Consultants LLP (Mumbai) :
D-8,Plot no 1,ARUNODAY CHS LTD ,GORAI-1,Behind Maxus cinema,BORIVALI WEST ,MUMBAI-400092,Maharashtra, India
BRANCH OFFICE
WeR Consultants LLP (Jaipur) : Plot no.A- 53, F-1 , satyam enclave, near sbi bank, Bhaskar enclave 2, patrkar colony, new sanganer road, Jaipur, Rajasthan 302020
WeR Consultants LLP (Vadodara) : Plot No-K-1/504/1,G.I.D.C Estate, Halol, Panchmahal, Vadodara-389350, Guajrat.
WeR Consultants LLP (Lucknow) : 2nd Floor, Chandrika Devi Bhavan (Near Saket Petrol Pump), Shankar Puri, Kamta, Lucknow-227105, Uttar Pradesh.
WeR Consultants LLP (Deoria) : Purwa Chauhraha, Gorakhpur Road, Opposite RTO Office, Deoria-274001, Uttar Pradesh.
TDS is an abbreviated form of Tax Deducted at Source which is required to be deducted while making payment to parties at a given rate. There are some identified expenses/payments against which income tax department has prescribed a specific rate of deduction and the threshold limit on which it is required to be deducted.
TAN or Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government. Tax deducted at source (TDS) ensures that the Government’s collection of tax is proponed and the responsibility for paying tax is diversified. The person deducting the tax at source is required to deposit the tax deducted to the credit of Central Government – quoting the TAN number. Individuals who are salaried are not required to obtain TAN or deduct tax at source. However, a proprietorship business and other entities (i.e., Private Limited Company, LLP, etc.,) must deduct tax at source while making certain payment like salary, payments to contractor or sub-contractors, payment of rent exceeding Rs.1,80,000 per year, etc. IndiaFilings can help obtain TAN Registration.
| SECTION | NATURE OF PAYMENT | CUT OFF AMOUNT(INR) | TDS RATE (%) |
|---|---|---|---|
| 192 | Salaries | – | Average Rate |
| 193 | Interest on Securities | 10,000 | 10 |
| 194A | Interest From Bank | 10,000 | 10 |
| 194A | Interest From Other Than Bank | 5,000 | 10 |
| 194B | Winning from Lotteries | 10,000 | 30 |
| 194BB | Winnings from Horse Race | 10,000 | 30 |
| 194C | Contractor (Single / Yearly) | 30K/ 1 Lakh | 2 (1% for Individuals) |
| 194C | Transporter (Declared with PAN U/S 44AE) | As above | 0 |
| 194H | Commission / Brokerage | 15,000 | 5 |
| 194I | Rent -Land, Building, Furniture & Fittings | 180,000 | 10 |
| 194I | Rent -Plant, Machinery & Equipments | 180,000 | 1 |
| 194IA | Sale Of Immovable Property | 50 Lac | 1 |
| 194J | Professional Fee | 30,000 | 10 |
Note TDS deducted in a month is required to be paid before 7th day of next month. While making TDS mention correct section in the challan number 281. For TDS payment use separate challan while making payment for specific type (section). Interest on Late Payment is- 1.5% per month or part thereof, The penalty on Late filing of TDS Return is Rs. 200 per day, however it is limited to the TDS amount.
| Sl. | PARTICULAR | DUE DATE | TYPE OF EVENT |
|---|---|---|---|
| 1. | Payment of TDS deducted under various sections of the income tax | Before 7th day of Next Month | Monthly |
| 2. | 1st Quarter TDS Return (1stApril to 30the June) | 31st July 2017 | Quarterly |
| 3. | 2nd Quarter TDS Return(1st July to 30th September) | 31st Oct 2017 | Quarterly |
| 4 | 3rd Quarter TDS Return(1st October to 31st December) | 31st Jan 2018 | Quarterly |
| 5 | 4th Quarter TDS Return(1st January to 31st March) | 31st May 2018 | Quarterly |