Category: TCS

Tax Collected at Source

9 Amendments relating to TDS and TCS proposed in Budget 2015-16: Effective from June 01, 2015

Given below are the list of changes applicable from 1st June, 2015 for TDS and TCS amendments: 1. Requirement for obtaining evidence/ particulars by employer for TDS-Section 192 2. TDS… Read more »

3 Simple Steps for Tax Deductors to follow

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Below are the three simple steps for Tax Deductors to follow in case of TDS and TCS: 1. Deduct Correct TDS while making payment as required by law Deduct tax… Read more »

Important Information for Deductors regarding TDS Certificates

Below are the important information regarding TDS Certificates which deductors should take care of: Deductors who have deducted TDS and have not deposited the same by the due date, must… Read more »

Amendment relating to processing of TCS returns -Section 206CB w.e.f. June 01, 2015

A new Section 206CB is proposed to be introduced to facilitate the processing of TCS (tax collected at source) statements on the same lines as TDS statements. Section 206CB(1) permits… Read more »

Late Filing of TDS Returns – Fees and Penalty

Fees and Penalty for Late Filing of TDS Returns are as follows: Section 234E-Levy of Fees Failure to submit e-TDS Statement on time will result in fees on the deductor…. Read more »