Online TCS Return Filing Services
- Ensure 100% compliance with Tax Collected at Source rules.
- Accurate quarterly filing to avoid hefty financial penalties.
- Seamless generation of Form 27D for your buyers.
- Complete guide on TCS Return Filing
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Trusted on Google & Trustpilot — Taxpure, India’s No.1 Legal-Tech Platform
Overview
Tax Collected at Source (TCS) is a regulatory tax requirement where the seller is legally obligated to collect a specified percentage of tax from the buyer at the time of selling certain prescribed goods. Goods falling under TCS include scrap, timber, tendu leaves, minerals, and high-value motor vehicles (exceeding ₹10 Lakhs). Once the seller collects this tax and deposits it with the government, they must file a quarterly TCS return. This filing is a strict statutory compliance that records the transaction details, ensuring the government receives its dues and the buyer receives proper credit for the tax collected during the purchase.
Types
Unlike TDS, which has multiple forms, the TCS return filing process is primarily consolidated into a single quarterly form. Form 27EQ is the mandatory statement filed by the corporate or government deductor/collector for declaring the Tax Collected at Source. This comprehensive form covers all categories of TCS-applicable goods and transactions, including the sale of scrap, toll plaza collections, parking lot leases, and the Liberalized Remittance Scheme (LRS) for foreign outward remittances. It accurately maps the buyer’s PAN to the exact amount of tax collected.
Benefits
Timely TCS return filing is crucial for maintaining a flawless corporate compliance record. For the seller, it eliminates the risk of facing severe penalties, daily late fees, and potential prosecution under the Income Tax Act for withholding collected government funds. For the buyer, an accurately filed TCS return ensures that the collected tax immediately reflects in their Form 26AS. This allows the buyer to claim the TCS amount as a direct credit against their total income tax liability for the year, ensuring smooth B2B and B2C financial transactions.
Documents Required
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Company’s TAN
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Verified PAN cards of all buyers
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Total sales value of TCS-applicable goods
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Specific TCS percentage applied
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Challan Identification Number (CIN) receipts for deposited tax
Why Taxpure?
Managing TCS compliances can be administratively heavy for businesses dealing in high volumes of specified goods. Taxpure removes this burden entirely. Our tax experts systematically compile your sales data, verify buyer PANs, and reconcile your tax challans to ensure Form 27EQ is filed perfectly. We track all quarterly deadlines to guarantee you never incur a late fee. As an ISO 27001 certified platform, we ensure your financial data is highly secure while providing you with instantly downloadable Form 27D certificates to distribute to your buyers.
FAQs
What is the difference between TDS and TCS?
TDS (Tax Deducted at Source) is deducted by the person making a payment. TCS (Tax Collected at Source) is collected by the seller from the buyer at the time of selling specific goods.
When is the TCS return due?
TCS returns in Form 27EQ must be filed quarterly. The due dates are July 15th, October 15th, January 15th, and May 15th for the respective quarters of the financial year.
What happens if I don’t file the TCS return on time?
Similar to TDS, a mandatory penalty of ₹200 per day is levied under Section 234E until the TCS return is successfully filed, up to the maximum amount of tax collected.
What is Form 27D?
Form 27D is the official TCS Certificate issued by the seller to the buyer within 15 days of filing the TCS return, serving as proof of the tax collected and deposited.
Overview
Every food business in India, whether a small vendor or a large manufacturer, is legally required to complete FSSAI Registration online and obtain a food license to ensure food safety and consumer trust. FSSAI registration is mandatory for anyone involved in the production, processing, packaging, distribution, or sale of food. From home-based food entrepreneurs to established restaurants and food importers, every food business operator must comply with FSSAI guidelines. Ignoring this requirement can lead to heavy penalties or business closure.
What is FSSAI Registration
FSSAI registration is a basic license requirement set by the Food Safety and Standards Authority of India for food business operators. It monitors the quality of Food products manufactured, freshly prepared food, Health supplements, Novel food, Proprietary food, Food packages and food ingredients.
FSSAI is a regulatory body established under the Food Safety and Standards Act. It ensures that food businesses across the country adhere to proper safety standards and regulations, minimizing the risk of food adulteration and ensuring public health. Every food business operator is required to obtain the appropriate food license registration to legally operate.
Who Needs FSSAI Registration?
FSSAI registration or license is mandatory for any individual or entity involved in food business operators. This includes:
- Petty retailers
- Dairy units
- Vegetable oil processing units
- Pulses milling units
- Medical stores selling food items or supplements
- Merchant exporters of food
- Temporary stall holders
- Foot or movable carts
- Fixed stalls
- Food vending agencies
- Large-scale food businesses
- Food businesses operating from food premises or food business premises
Who Needs FSSAI Registration?
FSSAI registration or license is mandatory for any individual or entity involved in food business operators. This includes:
- Petty retailers
- Dairy units
- Vegetable oil processing units
- Pulses milling units
- Medical stores selling food items or supplements
- Merchant exporters of food
- Temporary stall holders
- Foot or movable carts
- Fixed stalls
- Food vending agencies
- Large-scale food businesses
- Food businesses operating from food premises or food business premises
Checklist for FSSAI Registration
Before applying for FSSAI registration or license, it’s important to ensure you have all the necessary information and documents ready. Here is a checklist that helps food business operators confirm they meet the basic requirements for a smooth application process.
FSSAI Registration Checklist:
- Valid Documents:Â Ensure you have government-issued identity proof, address proof of the business, and passport-sized photographs of the applicant and key personnel
- Food Business Type: Identify the nature of your food business, whether it’s manufacturing, retail, catering, storage, distribution, or a home-based operation
- Turnover Bracket:Â Know your annual turnover to determine whether you need basic registration, state license, or central license
- Business Address:Â Have a fixed and verifiable business location, which is essential for license issuance and inspections
- FSSAI Compliance Practices:Â Be aware of and implement food safety and hygiene practices as per FSSAI guidelines to ensure eligibility and smooth approval.
Validity and Renewal of FSSAI License
FSSAI licenses are valid for a period ranging from 1 to 5 years, based on the applicant’s choice at the time of registration. It is important for food business operators to keep track of their license expiry date to ensure uninterrupted compliance.
- When to Apply for Renewal:Â Renewal applications should be submitted at least 30 days before the license expiry date to avoid any legal complications or business disruptions
- Late Renewal Penalty:Â If you miss the renewal deadline, a late fee penalty may be imposed, and operating without a valid license can lead to fines or penalties under food safety laws.
FSSAI Registration FAQs
What is FSSAI Registration?
FSSAI registration is the official certification by the Food Safety and Standards Authority of India required for all food businesses to ensure compliance with food safety laws.
Is FSSAI registration mandatory?
Yes, FSSAI registration is mandatory for all food business operators in India involved in manufacturing, processing, packaging, storing, distributing, or selling food.