Tax Collected At Source Tcs
- All
- News
- Videos
-
Buying A Handbag, Watch Or Sunglasses Over Rs 10 Lakh Will Now Attract 1% TCS
Buying luxury goods worth above Rs 10 lakh will now come with a 1% TCS charge
-
20% TCS To Online Gaming Tax: 5 Rules Coming Into Effect From October 1
Online Gaming Tax Rules: The new rules can have a direct impact on the lives of the people. So, it is important to be aware of these fresh guidelines.
-
No TCS On International Credit Card Spends Abroad: Centre Scraps New Rule
Payments made by using international credit cards (ICC) during overseas visits will not attract Tax Collected at Source or TCS, as per the latest notification issued by the Finance Ministry.
-
Government Attempting To Link TCS With TDS: Chief Economic Advisor
The government is attempting to link tax collected at source for payments made by individuals with tax deducted from their income sources, a move that will help in ensuring cash flows of the individual taxpayers are not impacted, according to a senior official.
-
Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
-
Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
-
Credit Card Payments For Foreign Tours To Be Brought Under RBI's Liberalised Remittance Scheme
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source).
-
Budget 2023: Overseas Holidays May Get Costlier, Hike In TCS Proposed
The Finance Bill, through the Budget 2023-24, amended Section 206C of the Income Tax Act levying a higher Tax Collected at Source (TCS) on overseas tour programme packages.
-
Levy Uniform Interest Rate For Non-Deposit Of TCS: Taxmann
Section 201 of the Income Tax Act states that a deductor shall be liable to pay interest at the rate of 1 per cent per month/part of the month in case there is a failure to deduct tax
-
Here Are Some Income Tax Deadlines To Keep In Mind
CBDT has extended the time limit for filing income tax returns, making investments to claim income tax deductions and for furnishing TDS and TCS statements.
-
I-T Department Extends Deadline For Tax Savings Investments
The Central Board of Direct Taxes (CBDT) has extended the time limit for making investments to claim income tax deduction by a month till July 31, 2020.
-
TDS, TCS Reduced By 25%, Says Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman announced relief for middle classes too today as part of the government's efforts to soften the blow of coronavirus.
-
Finance Bill 2020 Proposes Amendment To Levy 5% Tax On Overseas Remittance
In a statement on Friday, the Ministry of Finance said, "The government imposed a tax collection at source (TCS), akin to TDS on remittances after an internal survey by the income tax department which showed that not only year-on-year more and more money is being sent under LRS but also a large number of those sending out money had not filed income...
-
Budget Proposes 5% Tax Deduction On Foreign Tour Packages, Remittances Abroad
New TDS provision has been introduced on foreign remittance. Authorized foreign exchange dealer receiving an amount of Rs 7 lakh or more in a financial year for remittance out of India under the liberalised remittance scheme (LRS) of the RBI shall collect TCS (tax collected at source) of 5 per cent from the buyer, being a person remitting such amou...
-
Deferment Of Tax Collection At Source Provision Under GST To Help Sellers: Amazon
E-commerce players like Flipkart, Amazon and Snapdeal were to deduct 1 per cent TCS (tax collected at source) while making payments to suppliers under the GST that rolls out from July 1.
-
Buying A Handbag, Watch Or Sunglasses Over Rs 10 Lakh Will Now Attract 1% TCS
Buying luxury goods worth above Rs 10 lakh will now come with a 1% TCS charge
-
20% TCS To Online Gaming Tax: 5 Rules Coming Into Effect From October 1
Online Gaming Tax Rules: The new rules can have a direct impact on the lives of the people. So, it is important to be aware of these fresh guidelines.
-
No TCS On International Credit Card Spends Abroad: Centre Scraps New Rule
Payments made by using international credit cards (ICC) during overseas visits will not attract Tax Collected at Source or TCS, as per the latest notification issued by the Finance Ministry.
-
Government Attempting To Link TCS With TDS: Chief Economic Advisor
The government is attempting to link tax collected at source for payments made by individuals with tax deducted from their income sources, a move that will help in ensuring cash flows of the individual taxpayers are not impacted, according to a senior official.
-
Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
-
Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
-
Credit Card Payments For Foreign Tours To Be Brought Under RBI's Liberalised Remittance Scheme
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source).
-
Budget 2023: Overseas Holidays May Get Costlier, Hike In TCS Proposed
The Finance Bill, through the Budget 2023-24, amended Section 206C of the Income Tax Act levying a higher Tax Collected at Source (TCS) on overseas tour programme packages.
-
Levy Uniform Interest Rate For Non-Deposit Of TCS: Taxmann
Section 201 of the Income Tax Act states that a deductor shall be liable to pay interest at the rate of 1 per cent per month/part of the month in case there is a failure to deduct tax
-
Here Are Some Income Tax Deadlines To Keep In Mind
CBDT has extended the time limit for filing income tax returns, making investments to claim income tax deductions and for furnishing TDS and TCS statements.
-
I-T Department Extends Deadline For Tax Savings Investments
The Central Board of Direct Taxes (CBDT) has extended the time limit for making investments to claim income tax deduction by a month till July 31, 2020.
-
TDS, TCS Reduced By 25%, Says Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman announced relief for middle classes too today as part of the government's efforts to soften the blow of coronavirus.
-
Finance Bill 2020 Proposes Amendment To Levy 5% Tax On Overseas Remittance
In a statement on Friday, the Ministry of Finance said, "The government imposed a tax collection at source (TCS), akin to TDS on remittances after an internal survey by the income tax department which showed that not only year-on-year more and more money is being sent under LRS but also a large number of those sending out money had not filed income...
-
Budget Proposes 5% Tax Deduction On Foreign Tour Packages, Remittances Abroad
New TDS provision has been introduced on foreign remittance. Authorized foreign exchange dealer receiving an amount of Rs 7 lakh or more in a financial year for remittance out of India under the liberalised remittance scheme (LRS) of the RBI shall collect TCS (tax collected at source) of 5 per cent from the buyer, being a person remitting such amou...
-
Deferment Of Tax Collection At Source Provision Under GST To Help Sellers: Amazon
E-commerce players like Flipkart, Amazon and Snapdeal were to deduct 1 per cent TCS (tax collected at source) while making payments to suppliers under the GST that rolls out from July 1.
