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CBDT exempts Air India from Deducting TDS, TCS [Read Notification]

Taxscan Team

The Central Board of Direct Taxes (CBDT) exempted Air India from deducting TDS and TCS. The notification says, “in exercise of the powers...

Higher Levy on TDS - TCS Defaulters - Income Tax Dept - PAN - Taxscan

Higher Levy on TDS / TCS Defaulters: Income Tax Dept urges Taxpayers to check their PAN in the...

Finance Act 2021: Double TDS Collection on Non-Filers of Income Tax Return to be effective from July...

Income Tax: CBDT notifies Amended Rules and Forms for TDS [Read Notification]

ITC Checklist to be followed by GST Taxpayers before finalizing Books of Accounts

NSDL releases New Features in e-TDS, TCS

The National Securities Depository Limited (NSDL) released the new features in e-TDS and TCS. The NSDL has revised the e-TDS TCS RPU utility for preparing TDS or TCS returns. The e-TDS/TCS File...

Income Tax & GST Compliance Calendar for May 2021

In any case, a good citizen should always pay his taxes on time while adhering to all major tax-related rules and regulations proposed by the government as it is vital for the upliftment of an...

Govt advises Suppliers selling Goods and Services through E-Commerce Platform to pay Tax Dues

An inspection was conducted on a taxpayer registered in Jagadhri, Yamunanagar dealing in the supply of Mobile Phones and other electronic items mainly through E-Commerce platforms such as Amazon,...

CBIC reminds E-Commerce Operator who TCS to file GSTR-8 Return by March 10, 2021

The Central Board of Indirect Taxes (CBIC) directed E-Commerce Operators who are required to collect Tax at Source (TCS) under GST to file GSTR-8 Return for the month of February, 2021 by March 10,...

TCS on E-Commerce Operators: CBIC reminds due date of filing GSTR-8 Return

The Central Board of Indirect Taxes and Customs ( CBIC ) has reminded all taxpayers about the due date of filing GSTR-8 Return. The CBIC had notified that the e-commerce operators shall collect one...

Budget 2021 proposes Levy of TDS on Purchase of Goods [Read Finance Bill]

The Union Budget proposes to levy a TDS of 0.1% on a purchase transaction exceeding Rs. 50 lakhs in a year. Such deduction shall lie only on the persons whose turnover exceeds Rs. 10 crores. The...

Budget 2021 - Levy of TDS - Purchase of Goods - taxscan

Budget 2021 Rate of TDS/TCS would be doubled for Non-Filers of Returns [Read Finance Bill]

The Union Budget 2021 has introduced new special provisions to the Income Tax Act, 1961. The new provision is expected to discourage the practice of not filing returns by the ‘specified person’ whose...

Budget 2021 - Rate of TDS - TCS - Non-Filers of Returns - Taxscan

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