What Is Advance Tax & TDS Compliance?

First, advance tax means paying your tax liability in instalments during the year. Then, TDS compliance involves deducting tax at source on various payments. Moreover, both help the government collect revenue steadily. Consequently, complying avoids last-minute burdens and interruptions.

TDS Applicability & Key Sections

Therefore, understanding TDS sections is vital. Below are common provisions:

• Section 192: TDS on salary payments when tax exceeds threshold.
• Section 194A: TDS on interest other than salary above ₹5,000.
• Section 194C: TDS on contractor payments above ₹30,000 per transaction.
• Section 194G: TDS on commission or brokerage over ₹15,000.
• Section 194H: TDS on commission or brokerage over ₹15,000.
• Section 194I: TDS on rent payments above ₹2,40,000 per year.
• Section 194J: TDS on professional fees above ₹30,000.

Moreover, thresholds and rates vary by section. Consequently, accurate application matters.

Advance Tax Dates & Calculation Criteria

Payment Dates

• 15 June: 15% of estimated tax.
• 15 September: 45% of estimated tax.
• 15 December: 75% of estimated tax.
• 15 March: 100% of estimated tax.

Therefore, planning timely payments avoids interest under Section 234B and 234C.

Calculation Criteria

First, estimate total income for the year. Then, subtract deductions under Chapter VI-A. Next, compute tax on the net taxable income. Afterwards, add applicable surcharge and cess. Finally, determine instalment amounts per above dates.

Interest & Penalties for Non-Compliance

Moreover, failing to deduct or pay TDS attracts penalties under Section 271C. Consequently, you may pay a penalty equal to the TDS amount not deducted.

Furthermore, missing advance tax deadlines incurs interest under Section 234C at 1% per month for deferment. In addition, shortfall beyond 90% of liability attracts Section 234B interest at 1% per month from 1 April.

Consequences of Non-Compliance

• Therefore, you risk penalty and interest charges that can exceed your original tax due.
• Moreover, repeated failures invite scrutiny and potential prosecution under Section 276B for willful default.
• In addition, non-compliance harms your creditworthiness and business reputation.

Our Advance Tax & TDS Compliance Procedure

1. Assessment:
   First, we review your estimated income and TDS obligations. Then, we identify due dates and amounts.
2. Preparation:
   Afterwards, we prepare tax computation and TDS schedules. Furthermore, we draft challans for advance tax.
3. Filing & Payment:
   Next, we file TDS returns—Form 24Q, 26QB, 26QC—and make advance tax payments via Challan 280.
4. Reconciliation:
   Meanwhile, we reconcile Form 26AS entries and rectify mismatches immediately.
5. Follow-Up:
   Finally, we monitor notices and respond promptly to any queries to avoid escalation.

Why Choose Our Advance Tax & TDS Services

• Furthermore, our local expertise in Delhi ensures quick resolution on ground.
• Moreover, our Certified CA team stays updated on all TDS and advance tax rulings.
• Consequently, you benefit from proactive reminders and on-time filings.
• In addition, we offer transparent fees and zero hidden charges.

Client Testimonial

[testimonials view_id=”1″ category=”Delhi” category=”Advance Tax”]

Advance Tax & TDS Compliance FAQs

Who must pay advance tax?

Therefore, all taxpayers—with no tax deducted at source and tax liability over ₹10,000—must pay advance tax.

What if I miss a TDS return?

Consequently, you attract interest under Section 201(1A) and penalty under Section 271H.

Can I revise TDS statements?

Moreover, you can file corrections in the next quarter’s returns. Therefore, reconciliation is essential.

How is advance tax on capital gains calculated?

First, compute gains. Then, apply applicable rates for short-term or long-term gains. Afterwards, include surcharge and cess.

Who is the Advance Tax & TDS Compliance in Delhi?

Therefore, choose a CA with proven expertise in TDS sections, advance tax planning, and notice handling for best results.

Contact Us

Ready to secure seamless Advance Tax and TDS compliance? Book your Appointment Now.