Hassle-Free & Accurate TCS Return Filing Services

At LEGOMARK INDIA, we provide professional TCS Return Filing Services to help businesses comply with Tax Collected at Source (TCS) provisions under the Income Tax Act, 1961. Filing TCS returns correctly and on time is crucial to avoid penalties and ensure smooth business operations.

What is TCS (Tax Collected at Source)?

TCS is a tax that sellers collect from buyers at the time of sale of specified goods or services. The seller must then deposit this tax with the government and file TCS returns periodically. TCS applies to various transactions, including the sale of scrap, timber, coal, motor vehicles, foreign remittance, and overseas travel packages.

For example, if a business sells scrap worth INR 5,00,000, it must collect TCS at the applicable rate from the buyer and deposit it with the Income Tax Department.

Why is TCS Return Filing Important?

• Legal Compliance: Ensures adherence to Income Tax laws and prevents legal issues.

• Avoid Penalties: Late or incorrect filing leads to penalties and interest charges.

• Seamless Refund Process for Buyers: Buyers can claim the TCS paid as a tax credit when filing their Income Tax Return (ITR).

• Transparency & Proper Record-Keeping: Ensures accurate documentation of tax collected and deposited.

TCS Return Filing Process at LEGOMARK INDIA

Our streamlined process ensures your TCS returns are filed accurately and on time:

1. Data Collection: We gather all relevant transaction details, TCS collected data, and invoices.

2. Preparation of TCS Return: We prepare Form 27EQ, the quarterly TCS return, with accurate tax details.

3. Reconciliation of Payments: Cross-check TCS collected and deposited to avoid discrepancies.

4. E-Filing Submission: We file the TCS return electronically with the Income Tax Department.

5. Acknowledgment & Confirmation: Post-filing, we provide you with the filing acknowledgment for your records.

Due Dates for TCS Return Filing

TCS returns are filed quarterly, with the following deadlines:

• April – June (Q1): July 15

• July – September (Q2): October 15

• October – December (Q3): January 15

• January – March (Q4): May 15

Missing these deadlines can lead to penalties of INR 200 per day until filed.

Documents Required for TCS Return Filing

To ensure smooth TCS return filing, provide the following documents:

1. TCS Deduction Details:

   • TCS certificates issued to buyers

   • Bank challans or receipts showing TCS deposited

   • Transaction invoices and payment receipts

2. PAN Details of Buyers:

   • PAN of all buyers from whom TCS has been collected

   • Tax Identification Number (TIN) for non-resident buyers

3. Financial Records:

   • Sales invoices and TCS collection details

   • Payment vouchers for transactions involving TCS

4. Previous TCS Returns (if applicable):

   • Challan details for earlier periods for reconciliation

Why Choose LEGOMARK INDIA for TCS Return Filing?

Expert Assistance: Our professionals ensure error-free filing and full compliance.

Timely Filing: We file TCS returns before due dates to avoid penalties.

Accurate Documentation: Ensuring error-free submissions to avoid notices from tax authorities.

Affordable Pricing: Competitive pricing with no hidden charges.

End-to-End Compliance Services: From preparation to filing and TCS certificate issuance, we handle it all.

Get Started with TCS Return Filing Today!

Ensure your TCS returns are filed accurately and on time with LEGOMARK INDIA. Contact us today for expert assistance in TCS Return Filing.