Tax Deduction / Collection at Source
Tax Deducted and Collected at Source is one of the most operationally intensive compliance obligations under the Income-tax Act, 2025. We manage the complete TDS/TCS function for businesses and individuals - from routine periodic returns to transaction-specific deductions that carry their own filing and certification requirements - keeping deductors aligned with the new form numbers, payment codes, and section references introduced by the Act.
TDS Return (as per the new forms introduced under the Income-tax Act, 2025)
The transition to the Income-tax Act, 2025 has renumbered every TDS/TCS return: Form 24Q (salary) is now Form 138, Form 26Q (non-salary, resident) is now Form 140, Form 27Q (non-resident payments) is now Form 144, and Form 27EQ (TCS) is now Form 143. We manage the complete quarterly TDS/TCS return cycle on the correct new forms - computing deductions against the new four-digit numeric payment codes under Section 393, ensuring timely deposit, issuing TDS certificates (the renumbered Form 130/131), and reconciling Form 168 (the renumbered AIS) to identify and resolve mismatches before they generate short-deduction or short-payment demands.
Property TDS
Sale of immovable property above the prescribed threshold requires deduction of TDS by the buyer. This transaction-specific deduction, previously reported through Form 26QB, is now reported through the consolidated Form 141 under the Income-tax Act, 2025. We handle the correct computation of TDS on the sale consideration, generation of the challan-cum-statement, and issuance of the TDS certificate to the seller - including cases involving multiple buyers or sellers, joint development arrangements, and payments in instalments - ensuring registration is not delayed for want of TDS documentation.
Rent TDS
Individuals and HUFs paying rent above the prescribed monthly threshold are required to deduct TDS, a compliance frequently overlooked outside of formal business structures. The applicable rate has been revised from 5% to 2% effective 1 April 2026, and reporting now moves from the erstwhile Form 26QC to the consolidated Form 141. We assist tenants in determining applicability, computing the correct deduction, depositing tax within the due date, and issuing the TDS certificate to the landlord - a service particularly relevant for salaried individuals and family arrangements paying high-value residential rent.
Lower Deduction Certificate in case of NRI
Where the standard TDS rate on payments to a non-resident results in tax deducted well in excess of the payee's actual tax liability, an application can be made to the Assessing Officer for a certificate authorising deduction at a lower or nil rate. We prepare and file applications for such certificates on behalf of NRI clients - covering sale of property, rental income, and other remittances - presenting the underlying income computation and tax liability with full supporting documentation, so that cash flow is not locked up in excess TDS awaiting refund, and coordinate this with related Form 15CA/15CB certification for the remitter.
TCS on Overseas Remittances (LRS) and Sale of Goods
Tax Collected at Source applies to overseas remittances made under the Liberalised Remittance Scheme (LRS) - for education, travel, investment, or gifting - as well as to the sale of specified goods above prescribed thresholds. We advise on applicable TCS rates and thresholds, assist authorised dealers and sellers in correct collection and deposit, and help individuals claim TCS credit correctly while filing their income tax returns to avoid working-capital lock-up.
TDS/TCS Default Notices and Reconciliation
Mismatches between deposited TDS/TCS and statements filed frequently trigger short-payment and short-deduction demands on the TRACES portal. We handle reconciliation of challans, correction statements for PAN and amount errors, responses to intimations under the relevant sections, and resolution of interest and late-filing fee demands - keeping the deductor's compliance record clean.