Explains new TDS/TCS forms, section references, Tax Year concept, revised TCS due date and Q1 compliance requirements under the Income-tax Act, ...
The sale of motor vehicles above a specified value attracts TCS under Section 206C(1F). As per the provision, car dealers or sellers must collect TCS from buyers when the sale consideration of a motor ...
Under the income tax rules, the seller of a motor vehicle is required to collect TCS at the rate of 1 per cent when the ...
ITR Filing: New TDS/TCS statement correction deadline; here's what you should do to avoid tax notice
According to the advisory, the correction statements for TDS and TCS can only be filed for Q4 of FY 2018-19 up to Q3 of FY 2023-24 until March 31, 2026. Earlier, the 6-year duration permitted for the ...
Bought a car costing more than ₹10 lakh? The 1% Tax Collected at Source (TCS) you paid at the time of purchase isn't an extra ...
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