Tax deducted at source (TDS)
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TDS stands for Tax Deducted at Source, which is a method by which the government collects tax on income by having the payer (deductor) of that income retain a portion of the tax amount and deposit it with the government. For sellers on ShopClues, TDS is applied to selling fees, fulfillment fees, and packing fees deducted from the seller at the specified rates under the tax act. Sellers can file a TDS claim with ShopClues by logging into their store, selecting the TDS Claims option, filling in details from their TDS certificate like name, financial year, certificate number, and uploading the certificate. ShopClues will verify and disburse the claim amount within
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Tax deducted at source (TDS)
- 1. PropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidentialPropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidential Tax Deducted at Source TDS Panel Navigation
- 2. PropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidentialPropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidential What is Tax Deducted at Source (TDS)? • TDS is a method of tax collection by Government. A part of Tax on income is retained by entity paying income (deductor) to entity receiving the income (deductee). • This is subtracted from the Deductee’s income and deposited with the Government. In other words, tax is retained from the seller and deposited into the Government treasury by the ShopClues. • TDS shall be applied by ShopClues at the rate specifically provide under the Act . The Selling Fee, Fulfillment and Packing Fee deducted from the seller includes the TDS. • You will need to file a claim with ShopClues after paying the TDS to the Government.
- 3. PropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidentialPropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidential TDS Claim Login to ShopClues Store Manager Click on the Payments Tab Select TDS Claims from the drop down menu
- 4. PropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidentialPropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidential Fill-in the mandatory fields like, Name on the TDS Certificate, Email id on the Certificate, Financial Year for the claim, Quarter for the claim, Certificate number, TAN No. , Claim Amount and Upload the TDS certificate in PDF format Click on the Save button. Finance team will verify the Certificate and disburse the claim amount to you with-in 45 working days. You can view the claims uploaded by clicking on the TDS Claims Dashboard.
- 5. PropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidentialPropertyofCluesNetworkPvt.Ltd.-Strictlyprivate&confidential You can Upload a new request and see the details of existing requests and transactions You can view the TDS Certificates uploaded