Understanding TDS Refund for Restaurants Selling Through Zomato and Swiggy
​ So, in this totally crazy tech world, food delivery apps like Zomato and Swiggy have turned everything upside down for restaurants. And with every convenience comes a bit of an ache—the monetary kind when it's related to some tax or other; in simple words, TDS. If you own a restaurant, getting a handle on how TDS works and knowing how to get your money back can make all the difference in the world when it comes to earning. Let's dive into the whole TDS thing, the refund process, and how we can help you snag those refunds through income tax returns.
What is TDS, anyway?
Ever wondered how TDS works in restaurants when using Zomato and Swiggy? Let me break it down for you.
Claiming TDS Refund
TDS, or Tax Deducted at Source, in simple words, is the way through which India collects its income tax. It's simple; before you even receive your money, a percentage of it is taken out by whosoever is paying you. Restaurants, for example, who deal with Zomato and Swiggy, those platforms take the TDS from what they owe you for those delectable food deliveries. Then, they provide that deducted cash to the government on your behalf
So, the TDS deduction rate can be a bit of a mixed bag. It changes based on things like whether the restaurant has shared its PAN details. If they don't share, then they are probably looking at higher rates. Ouch!
Now, let us get into the payment part. When you order that favorite biryani or pizza through Zomato or Swiggy, these platforms take a little cut of the pie as TDS before handing over the rest to the restaurant. Suppose that a restaurant makes ₹1000 from an order. If the TDS rate is 5%, they would snip off ₹50, and the restaurant would be left with ₹950. Pretty cool, huh?
And what about a TDS certificate? After deducting their share, Zomato and Swiggy have to issue a TDS certificate to the restaurant called Form 16A. It's that small piece of paper showing the restaurant that tax has been deducted; this document comes in super handy at tax filing time and might even bring a little refund too.
You can claim a refund if the total tax liability is lesser than the amount of TDS deducted. Here is how you can claim your refund:
1.File Your ITR
You need to file your ITR accurately showing the income and taxes paid to initiate your refund claim.
2.Include TDS details
Incorporate all the details regarding TDS deducted by Zomato or Swiggy in your ITR form
3.Verification
The return shall be put up for a verification process by the income tax department.
​4.Refund process
After the return verified and approved, refund shall get processed and credited back to the bank account of the respective taxpayer.
Many restaurant owners fear the complexity of tax rules and regulations, especially when one is not well-versed with the taxation laws or file procedures. Here's where our company differs:
1.Taxation Expertise
Our professionals deal with taxation issues concerning Indian enterprise operations.
2.Tailor-made Solution
We provide services strictly tailored to restaurants selling via online platforms such as Zomato and Swiggy.
3.Streamlined Process
We make the entire process, from collecting all relevant documents to filing your ITR, smooth so that no refund goes unclaimed.
4.Refund Maximization
With us, you get maximum refunds with proper claims of all possible deductions.
Conclusion
Therefore, at first instance, a TDS refund might look like a complicated claim but with proper guidance and support from professionals like us, restaurants can navigate this process easily and recover their earned hard money.
Why choose our firm?
