TDS ON NON SALARY

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Stay Penalty-Free! Let Taxwaale Handle Your TDS on Payments

Form 26Q is used for filing TDS returns on non-salary payments made to Indian residents. It applies to payments such as professional fees, contract payments, interest, rent, and commission. Any person or entity deducting TDS under sections 194A, 194C, or 194J must file this form quarterly.

The details required in Form 26Q include the deductor’s and deductee’s information, PAN numbers, payment details, TDS amount deducted, and deposit details. Filing the return accurately is crucial to avoid penalties and ensure compliance with tax regulations.

Fee/Penalties for Late Filing of 26Q

Late Filing Fee: A penalty of ₹200 per day applies until the return is filed, up to the total TDS amount.

Penalty for Non-Filing or Errors: If not filed within a year or if incorrect details are provided, a penalty between ₹10,000 and ₹1,00,000 may be imposed under Section 271H.

Interest on Late Payment: If TDS is deducted but not deposited on time, interest at 1.5% per month is charged until the payment is made.

How Can We Assist You?

Filing TDS returns correctly and on time is crucial to avoid penalties. At Taxwaale, we simplify the process by ensuring accurate Form 26Q filing with no errors. Our team carefully reviews details, calculates TDS, and submits returns within the deadline. We also keep track of regulatory updates, helping businesses and individuals stay compliant without any stress. From data verification to timely submission, we handle everything efficiently. Need assistance with your TDS return? Let Taxwaale take care of it – contact us today!

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