Startup & Legal
- info@vega.org.in / support@vega.org.in
Book Your Free Consultation with Vega Consultants – Let's Build Success Together
Schedule a No-Cost Strategy Session for Tailored Solutions and Expert Guidance
Stay compliant with advance tax instalments and TDS filing deadlines without stress. We handle full-cycle compliance—from tax projections to challan deposits, quarterly returns, and 26AS reconciliation. Trusted by 4,000+ businesses across India for penalty-proof operations.
Advance Tax & TDS Return Compliance Services in India
Book Your Free Consultation with Vega Consultants – Let's Build Success Together
Schedule a No-Cost Strategy Session for Tailored Solutions and Expert Guidance
Complete Planning, Calculation, Filing & Penalty‑Proof Support
💼 Advance Tax & TDS Return Filing Services in India Accurate Tax Estimation, Timely Payments & Error-Free TDS Returns
📘 – Why Advance Tax & TDS Matter
Advance Tax and Tax Deducted at Source (TDS) are the twin pillars of India’s pay‑as‑you‑earn regime. Together they ensure:
a steady inflow of revenue to the exchequer,
lower year‑end tax shocks for businesses & individuals, and
automatic matching of taxes paid (Form 26AS/AIS) with the Government’s books.
Ignoring or under‑managing either component invites interest @ 1 % per month, steep late‑fees, and even prosecution for willful defaults.
⚖️ Legal Framework & Key Sections
| Area | Governing Sections | Core Mandate |
|---|---|---|
| Advance Tax | Sec 208–211 | Quarterly self‑payment of estimated tax by any assessee whose liability exceeds ₹10,000 p.a. |
| Interest | Sec 234B & 234C | 1 % p.m. for default / deferment of advance tax |
| TDS | Sec 192–195 & 200 | Tax deduction at source on salaries, professional fees, contracts, rent, dividends, etc. |
| TDS Returns | Rule 31A / Rule 37BA | Quarterly e‑filing of Form 24Q/26Q/27Q |
Example – How It Works
Estimated total tax after rebate & MAT = ₹2,00,000.
| Date | % Required | Amount | Cumulative Paid |
|---|---|---|---|
| 15 Jun | 15 % | ₹30,000 | ₹30,000 |
| 15 Sep | 30 % more (to 45 %) | ₹60,000 | ₹90,000 |
| 15 Dec | 30 % more (to 75 %) | ₹60,000 | ₹1,50,000 |
| 15 Mar | 25 % (to 100 %) | ₹50,000 | ₹2,00,000 |
🚀 Advance Tax Basics
Advance tax is “Pay‑As‑You‑Earn” for everyone—salaried, freelancers, NRIs, corporates—once their total tax liability > ₹10,000. Unlike TDS (deducted by others), advance tax is self‑assessed and self‑deposited using challan ITNS‑280 under code “100 – Advance Tax”.
Who must pay?
Individuals (incl. NRIs) with dividend, rent, interest, capital gains, or business income.
Companies & LLPs irrespective of profit level.
Presumptive taxpayers (44AD/44ADA) – only one instalment by 15 March (100 %).
📅 Advance Tax Instalment Matrix (FY 2024‑25)
| Due‑Date | Cumulative Tax to be Paid | Remarks |
|---|---|---|
| 15 June 2024 | 15 % | 1st instalment |
| 15 Sept 2024 | 45 % (less taxes already paid) | 2nd instalment |
| 15 Dec 2024 | 75 % | 3rd instalment |
| 15 Mar 2025 | 100 % | Final instalment |
🚨 Interest & Penalties
| Default | Section | Interest | Trigger |
|---|---|---|---|
| Short / Nil Payment of Advance Tax | 234B | 1 % p.m. from 1 Apr till assessment | < 90 % of final tax paid |
| Deferment of Instalments | 234C | 1 % p.m. on shortfall for 3 months (Jun, Sep, Dec) and 1 month (Mar) | Paid < required % on each due‑date |
Interest is simple interest; part of a month counts as full month. Late payment attracts penal prosecution if tax evaded > ₹10 lakh and wilful.
💸 TDS / TCS – Concept & Obligations
TDS shifts the onus of tax collection to the payer. You deduct at notified rates, deposit to Government, and file a quarterly return. TCS applies to sellers of specified goods & services. *Higher rate (20 %) if PAN not furnished.
Common TDS Sections
| Section | Nature of Payment | Threshold | Rate* |
|---|---|---|---|
| 192 | Salaries | Nil | Slab‑wise |
| 194C | Contracts | ₹30k single / ₹1 L p.a. | 1 % (individual) / 2 % (others) |
| 194J | Professional Fees | ₹30,000 | 10 % |
| 194H | Commission | ₹15,000 | 5 % |
| 194I(a) | Rent – Plant/Equip | ₹2,40,000 | 2 % |
| 194I(b) | Rent – Immovable | ₹2,40,000 | 10 % |
🔎 High‑Risk Error Zones & Reconciliation
| Risk | Impact | Fix |
|---|---|---|
| PAN‑TAN mismatch | Credit not reflected in 26AS | Use RPU validation |
| Lower deduction without 197 certificate | Interest @ 1 % p.m. | Obtain & store 197 copies |
| Incorrect challan mapping | Defaults in TRACES | Use OLTAS CPS/Challan correction |
| Advances vs invoices for contracts | Short deduction | Align ERP triggers to payment entries |
🗓 Monthly TDS Deposit Calendar
7th of succeeding month for all deductions.
30 April for deductions in March.
Payment via Challan ITNS‑281 (Code 200).
FAQs — Your Top Questions Answered
1. Who needs to pay advance tax in India?
Any individual, freelancer, NRI, company, or partnership firm whose total tax liability exceeds ₹10,000 in a financial year must pay advance tax in instalments as per Section 208 of the Income Tax Act.
2. What are the due dates for advance tax payments?
Advance tax must be paid in four instalments:
15% by 15th June
45% by 15th September
75% by 15th December
100% by 15th March
Presumptive taxpayers under 44AD/44ADA can pay the entire amount by 15th March.
3. What happens if I fail to pay advance tax on time?
You’ll be charged interest under Section 234B (default) and 234C (deferment) at 1% per month. This interest is mandatory and non-negotiable, even for minor delays or short payments.
4. Who is required to deduct TDS?
TDS must be deducted by employers, companies, partnerships, and even individuals (in some cases like property purchases or contract payments) when making specified payments such as salaries, rent, interest, or professional fees.
5. What are the due dates for depositing TDS?
TDS must be deposited on or before the 7th of the following month in which it is deducted. For March, the due date is 30th April. Non-payment attracts interest at 1%–1.5% per month under Section 201.
FAQs — Your Top Questions Answered
6. What are the due dates for filing TDS returns?
TDS returns are filed quarterly:
Q1 (Apr–Jun): 31st July
Q2 (Jul–Sep): 31st October
Q3 (Oct–Dec): 31st January
Q4 (Jan–Mar): 31st May
7. What forms are used for filing TDS returns?
Form 24Q for salaries
Form 26Q for domestic non-salary payments
Form 27Q for payments to non-residents
Form 27EQ for TCS returns
8. Can I revise a TDS return after filing?
Yes. TDS returns can be revised if there are errors in PANs, challan details, or deduction amounts. Revisions must be filed after the original return is processed and accepted on the TRACES portal.
9. What are the penalties for late filing of TDS returns?
A late filing fee of ₹200 per day under Section 234E applies. Further, penalties under Section 271H (₹10,000–₹1,00,000) may be imposed for missing returns or incorrect data submission.
10. How can your firm help with advance tax and TDS compliance?
We offer:
Precise advance tax estimations & ITNS-280 filing
TDS computation, challan deposit & Form 24Q/26Q filing
26AS/TRACES reconciliation
Automated reminders & audit-ready documentation
Real-time support to handle notices & defaults
RELATED PRODUCTS
₹8,499.00 – ₹28,999.00
Select options
This product has multiple variants. The options may be chosen on the product page
₹18,999.00 – ₹46,999.00
Select options
This product has multiple variants. The options may be chosen on the product page
