Category: TCS

Tax Collected at Source

TDS Under Section 194J(a) & 194J(b)

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The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub-divided now into two sections, 194J(a) and 194J(b), effective from 7th August 2020. u/s 194J(a) of… Read more »

TDS / TCS – Annual Compliance Calendar

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TDS / TCS – Deposit & Filing of Returns TDS / TCS – deductions / collections during the course of the month needs to be deposited by 7th of the… Read more »

TDS / TCS Compliance Simplified: Common Pitfalls and How to Avoid Them

Tax Deducted at Source (TDS) & Tax Collected at Source (TCS) compliance is a crucial responsibility for all deductors and collectors. While the process is straightforward, common mistakes can lead… Read more »

Section 206C(1G): TCS on Foreign Remittances and Tour Packages

Section 206C(1G) of the Income Tax Act, 1961 mandates tax collection at source on specified foreign transactions. It applies when an authorized dealer receives funds for remittance under the Liberalized… Read more »