Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
Goods and Services Tax : Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and effi...
Income Tax : Explore proposed Budget 2025 changes in TDS/TCS provisions, including revised thresholds and rates. Learn how these amendments aim...
Income Tax : Amendments to Section 206C exclude court stays from time limit calculations for default orders. Effective April 1, 2025....
Income Tax : Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assista...
Income Tax : CBDT simplifies TDS for salaried employees and enables parents to claim TCS credit for minors through recent amendments in Income-...
Income Tax : KSCAA requests review of incorrect TDS credit processing by CPC Bengaluru for AY 2024-25 and urges system corrections and resoluti...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : CBDT's new circular relaxes TDS/TCS rules for deceased deductees/collectees before PAN-Aadhaar linking, eliminating tax liability ...
Income Tax : The Orissa High Court quashed prosecution against Kashvi International for delayed TDS deposit, citing COVID-19 and financial hard...
Goods and Services Tax : Madras High Court held that order confirming demand due to mismatch between returns under GST set aside with condition to deposit ...
Income Tax : ITAT Ahmedabad partially upholds CIT(A)'s decision on TCS collection under Section 206C. Analysis focuses on Form 27C delays, proc...
Income Tax : ITAT Bangalore held that TCS credit is allowed to the entity conducting the business, irrespective of the fact that the liquor lic...
Corporate Law : Jharkhand High Court directs refund of Tax Collected at Source (TCS) by Central Coalfields Ltd. to R.S. Coke Industries (Pvt) Ltd....
Income Tax : Government specifies IFSC units exempt from tax collection under Section 206C(1H) for eligible purchases. Details outlined for buy...
Income Tax : CBDT exempts tax collection at source (TCS) on payments received from the Reserve Bank of India under Section 206C(1F) of the Inco...
Income Tax : Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpay...
Income Tax : The Ministry of Finance exempts RBI from Section 206CCA of Income Tax Act, 1961 through Notification No. 46/2024 dated 27th May, 2...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
ITAT Jaipur held that interest paid on TDS is compensatory in nature and is a business expenditure allowable u/s 37(1) of the Income Tax Act
1 अक्टूबर 2023 से टीसीएस के नियमों में हुए बदलावों का प्रभाव। नए नियमों के तहत विदेश में खर्च और लेनदेन पर टीसीएस का प्रभाव और उनकी विवरण यहाँ देखें।
Learn about revised TCS rates on foreign remittance effective October 1, 2023. Discover what expenditures are affected, exemptions, and key details.
Get insights into the new Tax Collection at Source (TCS) rules effective from October 1, 2023, impacting foreign trips. Discover tips to reduce TCS on global journeys, understand the Liberalised Remittance Scheme (LRS) changes, and unlock the complexities for international travelers. Learn how TCS applies to various expenses, including education, medical purposes, and overseas tour packages. Gain a comprehensive understanding of the TCS rates, thresholds, and practical tips for minimizing TCS liabilities during foreign travels. Stay informed to navigate the financial landscape of international trips seamlessly.
Orion Security Solutions P. Ltd. Vs DCIT (Delhi High Court) Headnote: TDS and TCS have to be adjusted against the amount arrived at by applying the rate of 20% against the tax crystalized as per the assessment order. Facts in brief: 1. The Assessee had filed its return of income for the assessment year 2021-22 declaring […]
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This white paper on TCS on foreign remittances, more specifically for investments in lieu of citizenship, is presented in an easy to read Q&A format
Latest updates in RPU Version 4.7 for Regular & Correction quarterly e-TDS/TCS statements starting FY 2023-24. Discover key features and changes in Form 24Q, 26Q, 27Q, and 27EQ.
