TDS & TCS Compliance

Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) play a key role in the Income Tax framework. Proper deduction, deposit, reconciliation, and filing are essential for compliance and accurate reporting. At Abhay C. Asknani & Co., we assist businesses, professionals, and organisations in managing their TDS/TCS obligations through systematic processes and documentation-driven workflows.

Our focus remains on correctness, statutory adherence, and timely filing as per the provisions of the Income Tax Act and Rules.

What We Offer

TDS/TCS Return Filing

  • Preparation and filing of quarterly TDS and TCS returns (Form 24Q, 26Q, 27Q, 27EQ).
  • Verification of challans, PAN details, and deduction entries.
  • Ensuring accurate reporting in accordance with statutory requirements.

TDS/TCS Computation & Deduction Review

  • Reviewing transactions to determine the applicability of TDS/TCS.
  • Assistance with rate applicability, thresholds, exemptions, and compliance provisions.
  • Verification of deduction entries and challan payments.

Correction Statements & Revisions

  • Preparing correction statements for rectification of errors in filed returns.
  • Updating challan details, PAN corrections, or transaction-level amendments.
  • Ensuring revised submissions align with CPC norms.

Form 16 & Form 16A Assistance

  • Support with the generation and verification of Form 16 for salaried employees.
  • Preparation and download of Form 16A for non-salary deductions.
  • Ensuring documentation accuracy.

TDS on Property Transactions

  • Assistance with TDS deduction and payment under Section 194-IA.
  • Verification of challans and filing of Form 26QB.
  • Support with the issuance of Form 16B.

Reconciliation with Books & TRACES

  • Matching books with Form 26AS, AIS/TIS, and TRACES data.
  • Ensuring accuracy in deduction entries and challan mapping.
  • Identifying mismatches and preparing corrective steps.

Guidance on TDS/TCS Provisions

  • Clarifications on relevant sections, rules, and compliance responsibilities.
  • Updates on changes in TDS/TCS rates or procedural requirements.
  • Assistance with applicable documentation needs.

Our Approach

  • Accuracy-Focused – Ensuring all deduction entries and challan details are correctly matched.
  • Timely Filing – Supporting quarterly and annual submissions within due dates.
  • Documentation-Driven – Maintaining working papers and reconciliation reports for audit or review.
  • Compliance-Oriented – Following Income Tax Act rules and ICAI guidelines.
  • Transparent & Systematic – Clear steps, structured reports, and traceable documentation.

Get in touch

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Contact Us Today

501, Shilp Satved, Besides Sindhubhavan, Sindhubhavan Road, Bodakdev, Ahmedabad - 380059

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