Tag: Form 27EQ

TCS on Foreign Remittances and Overseas Tour Packages – Section 394(1) (206C(1G))

The provisions relating to collection of tax at source on foreign remittances and overseas tour programme packages have been restructured under the Income-tax Act, 2025. The earlier Section 206C(1G) of… Read more »

TCS on Sale of Motor Vehicles and Luxury Goods – Section 394(1) (206C(1F))

The provisions relating to collection of tax at source on sale of specified high-value goods have been restructured under the Income-tax Act, 2025. The earlier Section 206C(1F) of the Income-tax… Read more »

TCS on Sale of Specified Goods – Section 394(1) (206C(1))

The provisions relating to collection of tax at source on specified goods have been restructured under the Income-tax Act, 2025. The earlier Section 206C(1) of the Income-tax Act, 1961 is… Read more »

TCS on Toll Plaza, Parking Lot and Mining Contracts – Section 394(1) (206C(1C))

The provisions relating to collection of tax at source on specified contracts such as toll plazas, parking lots, and mining activities have been restructured under the Income-tax Act, 2025. The… Read more »

Section 206C(1) of the Income Tax Act: Tax Collection at Source (TCS)

Section 206C(1) of the Income Tax Act, 1961 mandates the collection of tax at source (TCS) by sellers related to specific goods. It applies at the time of debiting the… Read more »

Significance of the ‘REMARKS’ in TDS Returns

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For the different payment types, as per applicability, standard TDS rates are specified. Under certain provisions of the Act, there could be deviation from this standard deduction rate. The ‘Remarks’… Read more »