Tag Archives: TCS

New functionalities made available for TCS and Composition taxpayers

By | September 3, 2020

New functionalities made available for TCS and Composition taxpayers 01/09/2020 1.Provision to make amendment, multiple times, in Table 4 of Form GSTR-8 Earlier, if no action was taken on TCS details, auto-populated in TDS/TCS credit form, by the supplier or if the same were rejected by them in the said form, the TCS (e-commerce operators)… Read More »

New TDS and TCS Rates from 14.05.2020 for FY 2020-21

By | May 14, 2020

New TDS and TCS Rates from 14.05.2020 for FY 2020-21 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 non-salaried specified payments made to residents has been reduced by 25%… Read More »

Income Tax TDS & TCS TREATISE Book : August 2019 Edition

By | September 11, 2019

TDS & TCS TREATISE WITH APPROPRIATE CHARTS, TABLES, CONVEYANCINGS 2019 by TAX PUBLISHERS Paperback – 20 Aug 2019 by AVADHESH OJHA [M.Sc., LL.B. (GOLD MEDALIST), Ph.D.] (Author), CA NISHA BHANDARI Price Rs 1055 Click here to buy online TDS and TCS are methods for recovery and collection of taxes following the principle ‘pay as you earn’. These measures are helpful… Read More »

Online filing of TDS & TCS Returns specified by CBDT

By | June 6, 2019

In exercise of powers conferred by the rule 31A and 31AA of the Income-tax rules, 1962, The Central Board of Direct Taxes has prescribed the manner in which a deductor can register and file statement of tax deducted or collected at source electronically F. No. 1/3/7/CIT/OSD/E-FILlNG/TDS-TCS FORMS Government of IndiaMinistry of FinanceCentral Board of Direct… Read More »

Online TDS / TCS Challan Correction : e- Tutorial

By | May 22, 2019

e-Tutorial Online Challan Correction Important Information on Online Correction All type of corrections like “Personal information , Deductee details and Challan correction” can be made using Online correction functionality available from FY.2007-08 onwards depending upon the type of correction This feature is extremely useful as it is : Free of Cost :TRACES does not charge… Read More »

No TCS if Buyer declaration obtained for goods to be used for manufacturing : ITAT

By | May 8, 2019

” …………. if the buyer furnishes to the person responsible for the tax a declaration in writing in prescribed form declaring that the goods in question are to b e utilized for the purposes of manufacturing processor producing articles or things or for the purpose of generation of power and not for trading purposes. The… Read More »