TCS Return refers to the statement filed by a seller or collector who collects **Tax Collected at Source** (TCS) on specified transactions under the Income Tax Act. TCS is collected by the seller from the buyer on the sale of certain goods, such as liquor, scrap, minerals, or even specific transactions like the sale of motor vehicles above a certain value. The seller then deposits the collected tax with the government and files a TCS return.
TCS Return refers to the statement filed by a seller or collector who collects **Tax Collected at Source** (TCS) on specified transactions under the Income Tax Act. TCS is collected by the seller from the buyer on the sale of certain goods, such as liquor, scrap, minerals, or even specific transactions like the sale of motor vehicles above a certain value. The seller then deposits the collected tax with the government and files a TCS return.
Key components of a TCS return include:
1. Details of the amount collected as TCS.
2. PAN of both the collector (seller) and the collectee (buyer).
3. Transaction details, including the sale amount.
4. Date of TCS collection and deposit.
The TCS return must be filed quarterly using **Form 27EQ**, which provides details of the tax collected and deposited.
Filing a TCS return ensures compliance with tax regulations, and the buyer (collectee) can claim the TCS collected as tax credit while filing their own income tax return.
Terms & Conditions
Govt fee Rs 1000 extra to be borne by the client
All tax payments and penalties if any to be borne by the client
Stamp paper and notary should be borne by the client
This pricing is applicable only if the LLP is not having any assets and liabilities.
There will be additional charges if there is BANK ACCOUNT STATEMENT transactions having above 100 entries
DINeKYC & DSC needs to be active till the e-filing status of the LLP changes to “UNDER PROCESS OF STRIKE OFF”.
Separate forms to be filed with MCA for updating of Registered Office address/mail id & and the add/remove partners (additional charges applicable).
LLPs must file FORM-3 within 30 days of incorporation. Failure to do so incurs a penalty, which must be paid before filing FORM-24 for closure of LLP with the MCA.
TCS Return refers to the statement filed by a seller or collector who collects **Tax Collected at Source** (TCS) on specified transactions under the Income Tax Act. TCS is collected by the seller from the buyer on the sale of certain goods, such as liquor, scrap, minerals, or even specific transactions like the sale of motor vehicles above a certain value. The seller then deposits the collected tax with the government and files a TCS return.
Key components of a TCS return include:
1. Details of the amount collected as TCS.
2. PAN of both the collector (seller) and the collectee (buyer).
3. Transaction details, including the sale amount.
4. Date of TCS collection and deposit.
The TCS return must be filed quarterly using **Form 27EQ**, which provides details of the tax collected and deposited.
Filing a TCS return ensures compliance with tax regulations, and the buyer (collectee) can claim the TCS collected as tax credit while filing their own income tax return.