Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.
Income Tax : The Income-tax Department is increasingly relying on AI-based verification and automated reconciliation systems to detect discrepa...
Income Tax : The New Income Tax Act, 2025 replaces multiple TDS and TCS provisions with consolidated Sections 392, 393 and 394 effective from F...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for May 2026. It highlights filing requirements under income tax...
Goods and Services Tax : The content addresses key statutory deadlines under income tax and GST laws for May 2026. It highlights due dates and compliance r...
Income Tax : The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity,...
Income Tax : Rule 219 prescribes Forms 138, 140, 142–144, fixed quarterly due dates, special challan-cum-statements for specified transaction...
Income Tax : Rules 212–213 introduce Form 127 for buyer declarations to avoid TCS and Form 128 for obtaining lower or nil TDS/TCS certificate...
Income Tax : Stakeholder-wise and thematic overview of Budget 2026 tax reform proposals covering farmers, MSMEs, corporates, NRIs, exporters, a...
Income Tax : The C&AG’s audits ensure proper assessment, collection, and allocation of direct taxes, identifying evasion risks and improving ...
Income Tax : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...
Income Tax : The Chhattisgarh High Court held that TCS under Section 206C(1C) cannot be collected on compounding fees recovered from illegal mi...
Income Tax : The Chhattisgarh High Court ruled that TCS under Section 206C(1C) applies only to lease holders, licence holders, or persons grant...
Income Tax : The Supreme Court upheld that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled tha...
Income Tax : The High Court held that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled that com...
Income Tax : The Supreme Court declined to interfere with a High Court ruling that TCS under Section 206C(1C) does not apply to compounding fin...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Goods and Services Tax : The advisory explains that registrations will be automatically suspended if bank account details are not furnished within 30 days....
Income Tax : CBDT Circular 9/2025 offers partial relief for higher TDS/TCS on inoperative PANs, extending compliance deadlines for taxpayers wh...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
ITAT Ahmedabad partially upholds CIT(A)’s decision on TCS collection under Section 206C. Analysis focuses on Form 27C delays, procedural compliance, and tax implications.
Learn about Form 12BAA, introduced for employers to credit TCS for employees, ensuring accurate TDS calculation and easing tax compliance.
CBDT simplifies TDS for salaried employees and enables parents to claim TCS credit for minors through recent amendments in Income-tax Rules, 1962.
CBDT exempts tax collection at source (TCS) on payments received from the Reserve Bank of India under Section 206C(1F) of the Income Tax Act.
Learn the financial penalties of TDS/TCS non-compliance, including interest and disallowance. Prevent errors by managing deadlines and ensuring accurate tax filings.
Important TDS rate changes from October 1, 2024, affecting insurance, rent, commissions, mutual funds, and e-commerce. Learn about the reduced rates and new provisions.
KSCAA requests review of incorrect TDS credit processing by CPC Bengaluru for AY 2024-25 and urges system corrections and resolution for affected taxpayers.
ITAT Bangalore held that TCS credit is allowed to the entity conducting the business, irrespective of the fact that the liquor license was in the name of another person. Accordingly, TCS credit allowed.
Key changes in the Finance (No. 2) Act 2024 include revised income tax rates, capital gains tax adjustments, and new definitions impacting tax calculations.
Learn how to use 26AS text to Excel conversion tool. Tested in Excel 2019, 2021, and Office 365. Follow simple steps to convert and manage TDS/TCS data efficiently.
