TDS / TCS Compliance & Advisory

TDS / TCS Compliance & Advisory

TDS and TCS compliance is an important direct tax responsibility for businesses, professionals and organisations. Errors in deduction, collection, payment, statement filing or reporting can result in interest, late fees, penalties, disallowance of expenses and departmental notices.

T N K & Company provides end-to-end TDS and TCS compliance and advisory services covering applicability review, monthly payment support, periodic statement filing, correction statements, TDS/TCS certificates, income tax portal compliance, lower or nil deduction certificate support, notice replies, demand resolution and year-end reconciliation.

Our services are designed to help clients remain compliant, reduce avoidable defaults, maintain proper documentation and ensure smooth reporting under the applicable provisions of the Income-tax law.

Our TDS / TCS Services Include

1. TDS Applicability Review

We assist businesses in identifying whether TDS is applicable on various payments made during the course of business.

Our review covers:

• Contractor payments
• Professional fees
• Technical service fees
• Rent payments
• Commission and brokerage
• Interest payments
• Director sitting fees and professional payments
• Advertisement and marketing payments
• Transport and logistics payments
• Security service payments
• AMC and maintenance contracts
• Software and technology-related payments
• Payments to non-residents, where applicable
• Other business expenses requiring TDS review

2. TCS Applicability Review

We assist businesses in reviewing Tax Collected at Source requirements wherever applicable.

Our TCS support includes:

• TCS applicability review
• TCS on sale of goods, where applicable
• TCS on specified transactions
• TCS collection and payment guidance
• TCS statement filing support
• Reconciliation of TCS collected with books
• TCS compliance documentation
• Review of TCS credit appearing in the tax credit statement / portal records

3. Monthly TDS / TCS Payment Support

Timely payment of TDS and TCS is essential to avoid interest, late fee and compliance exposure.

Our services include:

• Monthly TDS computation
• Monthly TCS computation
• Challan preparation support
• Review of tax deducted but not paid
• Review of tax collected but not paid
• Interest computation for delayed payment
• Review of short deduction or excess deduction cases
• Payment reconciliation with books
• Challan verification and record maintenance

4. Periodic TDS / TCS Statement Filing

We assist in preparation and filing of applicable TDS and TCS statements as prescribed under the relevant income tax law and rules.

Our statement filing support includes:

• Periodic TDS statement filing for business payments
• Periodic TDS statement filing for non-resident payments, where applicable
• Periodic TCS statement filing, where applicable
• Deductee / collectee-wise data compilation
• PAN verification
• Challan mapping
• Statement preparation and validation
• Filing acknowledgement tracking
• Post-filing status review

5. TDS / TCS Certificate Support

We help businesses generate and issue applicable TDS / TCS certificates to vendors, professionals, contractors and other deductees or collectees.

Our support includes:

• TDS certificate generation
• TCS certificate generation, where applicable
• Income tax portal / TRACES download assistance
• Deductee certificate verification
• TDS / TCS certificate reconciliation
• Support in resolving certificate mismatch issues

6. Income Tax Portal / TRACES Compliance and Default Resolution

Defaults may arise due to short deduction, short payment, interest, late filing fee, challan mismatch, PAN errors or incorrect reporting.

We assist in:

• Income tax portal / TRACES login support
• Default summary review
• Justification report review, where applicable
• Short deduction demand review
• Short payment demand review
• Late filing fee review
• Interest demand review
• Challan mismatch resolution
• PAN error correction
• Demand response and closure support

7. TDS / TCS Correction Statements

Errors in TDS or TCS statements may require correction filings to ensure proper credit and reduce outstanding defaults.

Our correction support includes:

• Online correction support
• Offline correction statement preparation, where applicable
• PAN correction
• Challan correction
• Deductee / collectee detail correction
• Amount and section correction
• Addition or deletion of records
• Revised filing and tracking

8. Lower / Nil Deduction Certificate Support

In certain cases, taxpayers may apply for lower or nil deduction certificates to avoid excess deduction of tax.

We assist in:

• Lower TDS certificate application support
• Nil deduction certificate application support
• Data compilation for application
• Projected income and tax computation support
• Document preparation
• Follow-up and representation support, where required
• Guidance on certificate usage and compliance

9. TDS on Vendor, Contractor and Professional Payments

Many businesses face difficulty in determining the correct TDS provision and rate for vendor payments.

We assist in reviewing TDS on:

• Contract payments
• Professional and technical fees
• Rent
• Commission and brokerage
• Interest
• Advertisement payments
• Transport payments
• Security services
• AMC and maintenance contracts
• Software and technology payments
• Reimbursements and composite invoices
• Royalty and service fee payments, where applicable

10. TDS on Non-Resident Payments

Payments to non-residents require careful review because of additional withholding tax, treaty and reporting implications.

Our support may include:

• Review of TDS applicability on foreign payments
• Advisory on withholding tax for non-resident payments
• DTAA-related documentation review
• Foreign remittance documentation support
• Coordination for remittance-related certificates, wherever required
• Documentation support for bank remittances
• Advisory on withholding tax exposure

11. TDS / TCS Notices and Department Replies

We assist clients in responding to TDS / TCS-related notices, demands and departmental communications.

Our services include:

• TDS / TCS notice review
• Reply to defaults and demands
• Response to short deduction notices
• Response to short payment notices
• Reply to late filing fee demands
• Reply to interest demand notices
• Compilation of challans, statements and supporting documents
• Written submissions, where required
• Follow-up for demand closure

12. TDS / TCS Reconciliation

Reconciliation is important to ensure that books, challans, statements and departmental records are aligned.

Our reconciliation services include:

• TDS payable reconciliation
• TDS deducted vs TDS paid reconciliation
• TCS collected vs TCS paid reconciliation
• TDS / TCS statements vs books reconciliation
• Challan-wise reconciliation
• Deductee-wise reconciliation
• Tax credit statement / AIS review
• Year-end reconciliation for tax audit and financial statements

13. Year-End TDS / TCS Review

TDS defaults may result in expense disallowance and adverse tax audit reporting. We help businesses review compliance before finalisation.

Our year-end support includes:

• TDS / TCS compliance review for year-end closure
• Section-wise / provision-wise TDS and TCS summary preparation
• Review of unpaid TDS / TCS
• Review of disallowance exposure
• Vendor ledger scrutiny
• Expense head-wise TDS review
• Reconciliation with tax credit statement / AIS
• Support for tax audit and financial reporting requirements

Common TDS / TCS Matters We Handle

Who Can Avail Our TDS / TCS Services?

Our TDS and TCS services are suitable for:

• Private limited companies
• LLPs and partnership firms
• Proprietorship businesses
• MSMEs and start-ups
• Professional firms
• Contractors and service businesses
• Trading and manufacturing businesses
• E-commerce and digital businesses
• Trusts, NGOs and educational institutions
• Businesses making foreign remittances
• Entities receiving TDS or TCS notices

Why Choose T N K & Company?

At T N K & Company, we treat TDS and TCS compliance as a continuous compliance function, not merely a periodic return filing activity.

Our approach is supported by:

• Review of applicability before deduction or collection
• Timely monthly payment support
• Proper challan and statement reconciliation
• Income tax portal / TRACES default resolution support
• Notice reply drafting and demand closure support
• Vendor and contractor payment review
• Year-end reconciliation for tax audit and financial reporting
• Practical advisory for businesses, MSMEs, professionals and organisations

Our TDS / TCS Compliance Approach

Review

We review the nature of payments, applicable provisions, rates, deductee / collectee details and tax deduction or collection requirements.

Compute

We compute monthly TDS / TCS liability, interest wherever applicable and challan payment details.

File

We assist in periodic statement filing, certificate generation and compliance documentation.

Reconcile

We reconcile books, challans, filed statements, portal records, tax credit statement and AIS data.

Resolve

We support clients in correction statements, notices, defaults, demand closure and departmental communications.