• TAX DEDUCTED AT SOURCE (TDS) FOR HOUSING SOCIETY

    Following are matter related to TDS

    What is the TDS?

    TDS is Tax deducted at source. It is deducted while making payment to vendors. TDS is not applicable on material purchased.

    What is the procedure to follow for complying TDS rules?

    Society should have TAN number to comply with TDS rules. TDS is Deducted while making payment to vendor and paid to govt on monthly basis. Due date for payment is 7th of next month.

    Whether TDS is to be deducted from all vendors?

    No. TDS is to be deducted in following two cases – 1. For Monthly vendor (Like Housekeeping vendor)if his payment is more than Rs.30000 or yearly it is more than Rs.100000 2. For Onetime payment is made to person (Like Auditor) and his payment is more than Rs.30000

    On which amount TDS is to be deducted?

    TDS is to be calculated on Bill amount excluding service tax. Total amount payable is total bill amount including service tax (-) TDS calculated as above. If vendor had not charged service tax separately then TDS is to be deducted on total bill amount.

    When TDS return is to be filled?

    TDS return is filled on quarterly basis. Due date for return filing is

    Quarter Last Date of Filing
    1st Quarter 31st July
    2nd Quarter 31st Oct
    3rd Quarter 31st Jan
    4th Quarter 31st May

    After return is processed, form 16A will get generated.

    What is Form 16 A and whether is to be submitted by society?

    Form 16 A is TDS certificate to be submitted to respective vendor. Office bearer need to put Signature on each form 16A and issue form 16A.
    Due date for Form 16A Submission -

    Quarter Due Date
    1st Quarter 15th Aug
    2nd Quarter 15th Nov
    3rd Quarter 31st Jan
    4th Quarter 31st May

    You can download TDS challan copy from below links –


    DOWNLOAD TDS challan