Here are the major reasons why people opt for this service:
A consistent flow of funds to the government ( This is all the benefits in point of your government only, not from the Business. All the expenses without deduction of TDs.Will attract 30 percent disallowance under Income Tax Act.This will attract huge burden of income tax liability.)
Ensures the efficient collection of taxes for welfare. ( Benefit of government only )
As payments are sent every three months throughout the year, there is no burden of making one large tax payment. ( All the TDs payment will be on a monthly basis and the return for the TDs will be filing quarterly.)
5 Reasons to opt for TDS/TCS returns
Here are the major reasons why people opt for this service:
01
Bank loans can be availed easily and in a hassle-free manner.
02
To avoid late fee and penalty for non filing of TDS/TCS Returns
03
Proper filing of IT returns allows you to carry forward your losses to subsequent years.
04
It is always preferable to file income tax returns in order to avoid legal repercussions and hefty fines.
05
To avoid disallowances under income tax act for non deduction of TDS / TCS