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TCS

Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.

Latest Articles


Monthly (February 2025) Legal Obligations + Legal updates for India

CA, CS, CMA : Stay updated with the latest legal compliances and key deadlines for November 2024 in India, including FEMA filings and ITR submis...

February 17, 2025 33513 Views 1 comment Print

New Income Tax Bill 2025: General FAQs and Broad Scope

Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...

February 13, 2025 6933 Views 0 comment Print

February 2025 Due Date Calendar for Tax & Compliance

CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...

February 8, 2025 13860 Views 0 comment Print

A Complete Overview of Income Tax Information Systems: From Form 26AS to Faceless Assessment

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...

February 8, 2025 2091 Views 0 comment Print

Analysis of Changes proposed in TDS/TCS Provisions in Budget-2025

Income Tax : Explore proposed Budget 2025 changes in TDS/TCS provisions, including revised thresholds and rates. Learn how these amendments aim...

February 6, 2025 4290 Views 0 comment Print


Latest News


TDS/TCS Filing Due Dates & Updated Utilities FY 2024-25

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...

January 7, 2025 12924 Views 0 comment Print

Salaried & Minors: Income-Tax Rules for TDS/TCS Credit Claims amended

Income Tax : CBDT simplifies TDS for salaried employees and enables parents to claim TCS credit for minors through recent amendments in Income-...

October 18, 2024 4302 Views 1 comment Print

Representation on Incorrect Income Tax Return processing & TDS credit denial

Income Tax : KSCAA requests review of incorrect TDS credit processing by CPC Bengaluru for AY 2024-25 and urges system corrections and resoluti...

September 13, 2024 4155 Views 1 comment Print

FAQs on PFA & Defective for ITR 1 to 6 for AY 24-25

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...

August 10, 2024 3483 Views 0 comment Print

CBDT Eases TDS/TCS Rules for Death Before PAN-Aadhaar Link

Income Tax : CBDT's new circular relaxes TDS/TCS rules for deceased deductees/collectees before PAN-Aadhaar linking, eliminating tax liability ...

August 7, 2024 1170 Views 0 comment Print


Latest Judiciary


Prosecution Quashed Due to COVID-19 Related Delay in TDS/TCS Deposit

Income Tax : The Orissa High Court quashed prosecution against Kashvi International for delayed TDS deposit, citing COVID-19 and financial hard...

January 31, 2025 321 Views 0 comment Print

Directed to deposit 25% of disputed tax for failure to reply GST notice and attended hearing

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 ...

December 19, 2024 804 Views 0 comment Print

Delayed TCS Form 27C Submissions Valid Due to No Strict Timeline

Income Tax : ITAT Ahmedabad partially upholds CIT(A)'s decision on TCS collection under Section 206C. Analysis focuses on Form 27C delays, proc...

November 8, 2024 756 Views 0 comment Print

TCS allowed to entity conducting business even if liquor license is in the name of other person: ITAT Bangalore

Income Tax : ITAT Bangalore held that TCS credit is allowed to the entity conducting the business, irrespective of the fact that the liquor lic...

August 31, 2024 588 Views 0 comment Print

Jharkhand HC Orders Refund of Unjustified TCS Collection

Corporate Law : Jharkhand High Court directs refund of Tax Collected at Source (TCS) by Central Coalfields Ltd. to R.S. Coke Industries (Pvt) Ltd....

August 14, 2024 1269 Views 0 comment Print


Latest Notifications


Income Tax Notification on IFSC Units and Tax Collection (TCS) Rules

Income Tax : Government specifies IFSC units exempt from tax collection under Section 206C(1H) for eligible purchases. Details outlined for buy...

January 6, 2025 1155 Views 0 comment Print

Income Tax Notification No. 115/2024: No TCS on RBI Payments

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...

October 16, 2024 1221 Views 0 comment Print

PAN-Aadhaar Linkage failure: Higher TDS/TCS Exemption for Deceased Deductees

Income Tax : Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpay...

August 5, 2024 7941 Views 0 comment Print

CBDT exempts RBI from Section 206CCA provisions (TCS Collection at higher rate)

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...

May 27, 2024 4011 Views 0 comment Print

CBDT exempt RBI from Higher TDS deduction under Section 206AB

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...

May 27, 2024 4200 Views 0 comment Print


Chart of TDS & TCS Rate Changes for FY 2020-21 / WEF 14.05.2020

May 15, 2020 58122 Views 8 comments Print

The Finance Minister Nirmala Sitharaman made an important tax-related announcement in a press conference yesterday. To give more cash in the hands of taxpayers, she disclosed a rate cut of 25% on Tax Collected at Source (TCS) for specified receipts and Tax Deducted at Source (TDS) for non-salaried specified payments made to residents. Key Points […]

Income Tax Reliefs announced by FM on 13th May 2020

May 15, 2020 15885 Views 4 comments Print

In view of spread of Novel Corona Virus (COVID-19) and challenges faced by taxpayers in meeting the compliance requirements under various provisions of income tax act the following measures have been taken by the Govt. Tax related measures announced by FM on 13th May 2020 1. Reduction in Rates of Tax Deduction at Source (TDS) […]

TCS Rate Chart for AY 2020-21 and AY 2021-22- Updated

May 14, 2020 316767 Views 19 comments Print

Article contains updated TCS Rate Chart for For Assessment year 2020-21 (Financial year 2019-20) and Assessment year 2021-22 (Financial year 2020-21) updated with latest changes made by press release dated 13th May, 2020 and Finance Act, 2020. It further explains newly inserted TCS Provisions of Section 206C(1G)(a) – TCS on foreign remittance through Liberalised Remittance […]

New Economic Package W.R.T Direct Tax (TDS/TCS Chart)

May 14, 2020 2634 Views 0 comment Print

Q 1. Why this post? Ans: Economic package announcements have been made by the Finance Minister of India by addressing a press conference on May, 13th 2020 in relation to Direct taxation amongst others. Thus this post is to analyse those aspects and specially with respect to TDS provisions. Q 2. What are the key […]

Reduced TDS / TCS Rate Chart for FY 2020-21 Pre & Post 14th May 2020

May 13, 2020 97179 Views 4 comments Print

Ministry of Finance Reduction in rate of Tax Deduction at Source (TDS) & Tax Collection at Source (TCS) Posted On: 13 MAY 2020 In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, the rates of Tax Deduction at Source (TDS) for  […]

Revised TDS/TCS Rate as Applicable wef 14.05.2020 (Amended)

May 13, 2020 294531 Views 110 comments Print

Revised TDS/TCS Rate Applicable As Per Covid Economic Relief Package Applicable For All Kinds Of Payments W.E.F. 14th May 2020. Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman has announced today Reduction in Rates of Tax Deduction at Source (TDS) and ‘Tax Collected at Source (TCS). The TDS rates for payment to residents […]

Download TCS Certificates in Form 27D from CPC(TDS) website

May 10, 2020 232375 Views 13 comments Print

CPC(TDS)  provides us with the new feature of downloading Form 27D, the Tax Collection Certificate for Deductees forming part of TCS Statements, filed in the form of 27EQ. Please refer to the following relevant details for the above functionality Form 27D is Tax Collection Certificate in respect of deductees, reported in Form 27EQ Statements. Please […]

Concept of TCS under GST | Section 52 of CGST Act, 2017

May 9, 2020 57570 Views 1 comment Print

TCS [TAX COLLECTION AT SOURCE] {Section 52 of CGST Act, 2017} Objective behind introduction of TCS: – refers to the Tax which is collected by the Electronic Commerce Operator when a supplier supplies some goods or services through its portal and the payment for that supply is collected by the Electronic Commerce Operator (ECO). Section […]

TDS rate Changes vide Finance Act 2020

May 8, 2020 5784 Views 0 comment Print

In Budget 2020, Government has made various amendment either changes in existing TDS/TCS Rates or addendum new TDS/TCS Rates, A.Y 2021-22 TDS Rates  Chart (Specific to Changes in Budget) Changes in Existing Rate Sr.No Nature of Payment Section Limit          TDS Rate for         Ind. and HUF Other than Ind. and HUF If […]

TCS – Detailed Analysis of Amendment by Finance Act, 2020

May 5, 2020 7614 Views 2 comments Print

TCS- The New Move! (detailed analysis with the Budget 2020 and The Finance Act 2020 insertions/amendments) India is a land of diversity with population count of over 135 crores. To run such a colossal nation, government requires a lot of resources. Such resources are collected in form of tax payments that a person makes to […]

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