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All you want to know about TCS on Foreign Remittances applicable from Today

The new income tax rule introduced on foreign exchange transactions, which was supposed to be effective from April 1, 2020, was extended till October...

TCS shall be applicable only on the amount received on or after 1st October, 2020: Finance Ministry...

Govt. to Levy 5% TCS on Foreign Remittances from October 1 [Read Act]

GST: CBIC enables New functionalities made available for TCS and Composition Taxpayers

Amount on which TCS not collected from buyer to be reported: CBDT notifies Income-tax (17th...

All You Need to Know about the Reduction in Rate of TDS & TCS

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 the following...

TDS / TCS Rates reduced 25% till March 31, 2021: Finance Minister

In order to provide more funds at the disposal of the taxpayers, the rates of Tax Deduction at Source ( TDS ) for non-salaried specified payments made to residents and rates of Tax Collection at...

CBDT Clarifies Issues on TDS/ TCS [Read Circular]

The Central Board of Direct Taxes (CBDT) issued clarification on issuance for lower rate or nil deduction or collection of Tax Deduction at Source (TDS) or Tax Collected at Source (TCS). The board...

TDS Applications to be disposed via E-Mail: CBDT [Read Circular]

In order to curb the difficulties caused to the coronavirus pandemic, the Central Board of Direct Taxes (CBDT) has directed all the TDS assessing officers to dispose of the applications through...

COVID-19: CBDT issues directions on Certificates for Lower Rate / Nil Deduction / Collection of TDS or TCS [Read Circular]

In the wake of the outbreak of Coronavirus (COVID-19), the Central Board of Direct Tax (CBDT) has issued the directions on regarding the issue of certificates for lower rate/ nil deduction/ collection...

Finance Ministry extends Deadline for Income Tax Returns for FY 18-19

In a video press conference conducted by Finance Minister Nirmala Sitharaman, today announced the extension of the deadline of Income Tax Returns for the Financial Year 2018-19 from 31st March, 2020...

TDS Surveys by Income Tax Department unearths Huge Defaults in Deduction and Deposits

In a major breakthrough in TDS Surveys conducted by the Tax Deducted at Source (TDS) wing of the Income Tax Department has unearthed default of TDS of Rs 324 crore in the case of a major Telecom...

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