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All you want to know about Communication between Recipient and Supplier Taxpayers on GST Portal

The Goods and Service Tax Network (GSTN) has enabled the new facility of “Communication between Taxpayers” on the GST portal. After the...

Levy of Penalty for non-filing of quarterly TDS Statement in Form 27EQ is invalid: ITAT [Read Order]

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

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

The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the new functionalities made available for Tax Collection at Source ( TCS ) and Composition Taxpayers. Provision to make...

Amount on which TCS not collected from buyer to be reported: CBDT notifies Income-tax (17th Amendment) Rules, 2020 [Read Notification]

The Central Board of Direct Taxes (CBDT) on Friday amended the Income-tax Rules, 1962, which came to be known as the Income-tax ( 17th Amendment) Rules, 2020. The Board seeks to amends Tax Collected...

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...

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