The Income Tax department has now notified all seven forms for taxpayers — with most salaried individuals required to submit the details by July 31. Employers are also likely to share Form 16 in the ...
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ITR filing update: TDS/TCS corrections window cut to 2 years from 6 years; what does this mean for you?
The Income Tax Department has issued an advisory stating that correction statements for TDS and TCS can only be filed for Q4 of FY 2018-19 up to Q3 of FY 2023-24 until March 31, 2026. This means if ...
Salaried employees will be able to offset the TCS paid against the TDS deducted from salary. (FE Online) The budget has significantly improved diversification of investment options, simplifying ...
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Filing ITR? Decoding TDS and TCS – who pays, who collects and key differences taxpayers must know
Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are two separate provisions under the Indian tax regime, both intended to facilitate early and efficient tax collection. Though applied ...
NEW DELHI: October 2023-24 brought a tax shocker. The rate of tax collected at source (TCS) on the purchase of foreign tour packages and foreign remittances under the Liberalised Remittance Scheme ...
MUMBAI: Many Indians prefer to act early, reaching the airport well ahead of time and getting out of the aeroplane as soon as it lands. However, tax experts caution against such haste while filing ...
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