The Central Board of Direct Taxes (CBDT) has introduced amendments to the income-tax rules, aimed at simplifying the process for salaried employees to claim credit for Tax Collected at Source (TCS) ...

Moreover, the rates for various offences, such as for TDS defaults, have been reduced to a single rate of 1.5 per cent/ month, down from the previous rates of 2 pc, 3pc, and 5 pc. The method for ...

CBDT has introduced Form 12BAA to enable employees to inform their employers about TDS and TCS from other income sources, aiding in reducing tax deductions from salaries and increasing take-home pay.

Form 12BAA to reduce TDS from salary: The Central Board of Direct Taxes has notified a new form called Form 12BAA. The new form notified by the CBDT will help an employee to tell the employer about ...

Gannett may earn revenue from sports betting operators for audience referrals to betting services. Sports betting operators have no influence over nor are any such revenues in any way dependent on or ...

In the past, incidents were reported wherein wrong refunds had been claimed through various means such as wrong claim of TDS credit, under reporting of income, over stating of deductions, claim of ...

Detailed Clarification on Notification No. 25/2024-Central Tax– Applicability of Deduction TDS On Registered Persons Involved In The Supply Of Metal Scrap. Summary: The Ministry of Finance issued ...

What is TDS under GST? TDS under GST is a method of collecting tax at the source of income. When a buyer makes a payment for specified services or goods, a certain percentage of the payment is ...