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
Contact Us Today
501, Shilp Satved, Besides Sindhubhavan, Sindhubhavan Road, Bodakdev, Ahmedabad - 380059