Blogs under category: TDS/TCS

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TDS on Salary u/s 192: Applicability and Calculations

Webtel

TDS or Tax Deduction at Source is the amount deducted by employers from salary and deposited with the government on behalf of the employees. The Income Tax Act states that the employer is liable to de ........ View More

  • 02/09/2023
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  • Visitor's Count: 3062

Tax Collected at Source | What is TCS?

Webtel

Tax Collected at Source (TCS) was proposed under the Income Tax Act to collect a prescribed rate of tax from the buyer on specified goods and deposit the same with the Government. In this blog, we wil ........ View More

  • 13/04/2023
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  • Visitor's Count: 3199

Difference between TDS and TCS

Webtel

TDS and TCS are advanced tax mechanisms introduced by the Government to avoid the concealment of income tax and delay in tax payment. Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are ........ View More

  • 20/03/2023
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  • Visitor's Count: 1266

Top 5 TDS Software in India

Webtel

Filing TDS Returns can be a difficult task and finding a right TDS Filing Solution can help you simplify the task of filing TDS/TCS returns. For a CA or tax practitioner firm, having a reliable TDS so ........ View More

  • 15/03/2023
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  • Visitor's Count: 6566

Tax Deducted at Source| TDS: Meaning, Applicability, and Due Date

Webtel

Tax Deducted at Source (TDS) is an advance tax mechanism introduced by the Income Tax Department under which, the tax is deducted at the time of receipt of the amount of payment by the assessee. Tab ........ View More

  • 01/03/2023
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  • Visitor's Count: 3744

Practical Cases on TCS on Sale of Goods u/s 206C(1H)

Webtel

According to section 206C(1H), Seller whose turnover exceeds Rs.10 crores in that preceding financial year will have to collect and deposit the TCS at the rate of 0.1% (presently 0.075% till the 31st ........ View More

  • 19/02/2021
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  • Visitor's Count: 17497

TCS to be collected by a Seller from October 1, 2020, only if Turnover exceeds Rs. 10 crores

Webtel

In our previous article, we have discussed the overview of the new provisions of TCS added by the Finance Act, 2020 on sale of goods, foreign remittances under liberalized scheme and selling of foreig ........ View More

  • 19/02/2021
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  • Visitor's Count: 3963

Introduction Of TCS From October 1, 2020

Webtel

Finance Act, 2020 has introduced a new provision under Section 206C(1H) related to Tax Collected at source (TCS) on Sale of Goods, Section 206C(1G)(a) for TCS on Foreign remittances through liberalize ........ View More

  • 19/02/2021
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  • Visitor's Count: 1550
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