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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
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
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
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
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
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
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