Section 194M, introduced in the Budget of 2019, specifically targets individuals and Hindu Undivided Families (HUFs) who were previously exempt from TDS obligations. This section mandates TDS deductions on payments… Read more »
In the recently announced Budget on 23rd July, 2024, there are quite a few proposals related to TDS / TCS. These have been summarized in this article. Highlights: Reduction /… Read more »
7th May 2024 – Due date for TDS / TCS payment for deductions/collections during April 2024 15th May 2024 – Due date of filing TCS Return for Quarter 4 of Financial Year 2023-2024 30th… Read more »
In a nutshell and quite obvious, one should opt for the regime where the tax liability is lower. Determination of tax liability Following factors are involved to determine the tax… Read more »
7th April 2024 – Due date for TCS payment on collections made during March 2024 30th April 2024 – Due date for TDS payments on deductions made during March 2024 *Please ensure… Read more »
The government has been looking at avenues to make income tax provisions simplified and lessen dependencies on consultants. A step towards it came through the introduction of Sec 115BAC- Tax… Read more »