Every person or a business entity needs to deduct TDS on the amount paid to any other person which is not in the form salary. The employer then needs to deposit this TDS amount with the Government and file a return on quarterly basis disclosing all details of payments furnished, TDS deducted and amount deposited with the Government. Delay or failure in filing results in levy of interest and penalty.
The nature of payments made on which TDS is to be deducted could be commission, rent, fees for professional or technical services, directors remuneration, royalty, dividend, interest on security etc.
Tax Aid provides one stop solution to persons and business entities to adhere to tax and other legal compliances.