Income Tax & TDS
An income tax is a tax that charged by governments on income generated by individuals or entities. That tax charges on specified rate applicable for the particulars assessment year. As per Income Tax Act each taxpayers must file an income tax return annually to determine their tax obligations. KMPS tax team help to compute the taxable Income and tax liabilities to submit the Income Tax return.
As per the Income Tax Act, any company or person making a payment for business purpose is required to deduct tax at source if the payment exceeds certain threshold limits. TDS has to be deducted at the rates prescribed by the tax department. It is the responsibility of the company or firm to deduct TDS before making the payment and deposit the same with the government in name of the recipient of payment link with PAN. TDS treated as an advance tax.
KMPS tax team guide you to deduct TDS at what rate under which section and complete the TDS Return process.
We offer following services to our clients:
1) Income Tax Returns
2) TDS Return
3) Tax Audit