Tag: section 44AB

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 »

Important Guidelines for payment towards liability on account of Tax Deducted / Collected at Source

Given below are some relevant guidelines related to payment of TDS/ TCS liability: A. Central Government Account (Receipts and Payments) Rules, 1983: Date of Receipt for Cheques or Drafts: The… Read more »