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Tax VKV Group
Book Consultation Mon–Sat · 10:00 AM – 7:00 PM

Overview


If you deduct tax — on salaries, contractor payments, rent, professional fees or interest — you carry a quarterly compliance cycle: deposit the TDS by the monthly due date, file the correct quarterly statement (24Q for salaries, 26Q for other resident payments, 27Q for non-residents), and issue TDS certificates to your deductees. The penalties are unusually mechanical: late filing currently attracts a fee per day under section 234E, and errors generate default notices from TRACES that don't resolve themselves.

We run the full cycle: computing deductions at the correct rates, verifying challan deposits, filing the quarterly statements, generating Form 16/16A from TRACES, and — where past defaults exist — filing correction statements to clear them.

Who needs this

  • Employers deducting TDS on salaries (24Q)
  • Businesses paying contractors, rent, professional fees or commission (26Q)
  • Anyone making payments to non-residents (27Q)
  • Property buyers required to deduct TDS on purchase consideration
  • Deductors with TRACES default notices or past-quarter corrections pending

Documents required

  • TAN and deductor details
  • Payment and deduction details for the quarter — party name, PAN, amount, section
  • Challan details of TDS deposited (CIN)
  • For 24Q: salary structure and employee declarations
  • Copies of any default notices, if corrections are needed

Your case may need one or two documents more or fewer — we confirm the exact checklist before starting.

How it works

  1. Deduction data compiled

    We compile the quarter's payments, verify PANs (wrong PANs trigger higher-rate demands) and confirm the correct section and rate for each deduction.

  2. Challan reconciliation

    Every deduction is matched to a deposited challan. Short deposits and interest, if any, are computed and flagged before filing — not discovered in a notice later.

  3. Statement filed

    The quarterly statement (24Q/26Q/27Q) is validated and filed before the due date, with the acknowledgement shared with you.

  4. Certificates issued

    Form 16 (annual, for salaries) and Form 16A (quarterly, for others) are generated from TRACES and delivered for distribution to your deductees.

What you receive

  • Filed quarterly TDS statement with acknowledgement
  • Challan-wise reconciliation for your records
  • Form 16 / Form 16A for all deductees
  • Default resolution and correction statements where applicable

Pricing

Fixed fee, quoted in writing before work begins. The fee depends on your business constitution and the complexity of the case, so we quote after a short (free) conversation — never after the work is done.

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Frequently asked questions

Quarterly statements are currently due on 31 July, 31 October and 31 January for the first three quarters, and 31 May for the January–March quarter. The deducted tax itself must be deposited monthly, generally by the 7th of the following month. We track both cycles for our clients.

A late-filing fee currently applies for every day of delay under section 234E (capped at the TDS amount), and separate penalties can apply for longer defaults. Because the fee is per-day and automatic, late TDS returns are among the most avoidable costs in compliance.

Yes. Most defaults trace to PAN errors, challan mismatches, short deduction or late deposit interest. We analyse the justification report, compute what is genuinely payable, deposit any shortfall and file the correction statement to close the default.

Buyers are generally required to deduct TDS on property purchases above the prescribed threshold and deposit it with a specific challan-cum-statement — no TAN needed for this. Miss it and the demand lands on the buyer. We handle the deduction, deposit and certificate as a one-time engagement.