Certificate Course in TDS & TCS Compliances

Certificate Course in TDS & TCS Compliances

Course Duration: 2 Weeks
Mode of Delivery: Classroom / Live Online
Session Duration: 1 Hour (Monday to Friday)
Total Sessions: 10 Sessions

Course Objective:

This comprehensive course is designed to equip students with practical knowledge of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) compliances. Learners will understand the entire process, from who is liable to deduct TDS or collect TCS to the filing of returns and certificate generation, along with practical steps for ensuring accurate compliance.

Target Audience:

• Accountants and finance professionals

• Tax practitioners

• Business owners

• Individuals looking to specialize in TDS and TCS compliance

Course Content:

Session 1: Introduction to TDS & TCS Compliances

• Overview of TDS and TCS under the Income Tax Act

• Key differences between TDS and TCS

• Importance of TDS and TCS in tax administration

Session 2: Who is Liable to Deduct TDS or Collect TCS?

• Understanding the deductor and collector's roles

• Categories of individuals/entities required to deduct TDS or collect TCS

• List of payments and transactions subject to TDS and TCS

Session 3: TAN Application and Deduction Process

• What is TAN (Tax Deduction Account Number)?

• How to apply for TAN

• Steps for obtaining and managing TAN

• Process of deduction (who, when, and how TDS is deducted)

Session 4: TDS Deduction and Collection Rates

• TDS rates for various payments (salary, interest, professional fees, etc.)

• TCS rates for various transactions (sale of goods, scrap, etc.)

• Checklist for accurate deduction and collection compliance

• Special provisions for different types of payments

Session 5: TDS & TCS Payment Process

• How to make TDS/TCS payments using challans

• Online payment process

• Due dates for TDS and TCS payments

• Consequences of late payments

Session 6: Record Keeping for TDS & TCS

• Documentation required for TDS and TCS compliance

• Maintenance of books and records

• How to record TDS and TCS transactions accurately

• Keeping track of TDS deductions, TCS collections, and payments

Session 7: Filing TDS and TCS Returns (Statements)

• Filing TDS returns (Form 24Q, 26Q, 27Q)

• Filing TCS returns (Form 27EQ)

• Due dates for filing returns

• Step-by-step guide to filing returns on the NSDL portal

• Filing process for both monthly and quarterly returns

Session 8: TDS & TCS Certificate Generation

• Issuing TDS certificates (Form 16, 16A)

• Issuing TCS certificates (Form 27D)

• How to generate and provide certificates to payees

• Timing and process of certificate issuance

Session 9: Default Reasons and Filing Correction Statements

• Common reasons for filing defaults (late payment, incorrect deductions)

• Process for rectifying errors in TDS/TCS filing

• How to file a correction statement on the NSDL portal

• Consequences of incorrect filing and late rectifications

Session 10: Review, Q&A, and Exam Preparation

• Recap of all sessions

• Detailed review of practical compliance steps

• Q&A session for addressing learner doubts

• Final exam preparation

Course Materials:

• Detailed course notes and handouts

• Sample forms for TDS/TCS returns and certificates

• TDS and TCS calculators for practice

• Access to recorded lectures (for online learners)

• Checklist for accurate compliance

Certification:

Upon successful completion of the course and the final exam, learners will receive a Certificate in TDS & TCS Compliances from the Institute of Account & Taxation Training.