TDS/ TCS – Payment, Returns

TDS/ TCS – Payment, Returns

Every person who pays the Salaries, , Commission, Interest, Rent, Fees for Professional Services,  NRI, Foreign Nationals, Foreign Institutions etc. has to deduct the specified percentage of amount from the amounts to be paid towards TDS as tax component and pay the balance to the tax payer. The amount so deducted has to be deposited […]

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 Income Tax Refunds

Income Tax Refunds

The excess paid, credited Income tax will be refunded to the tax payer by the Income Tax Department. The refund arises when: Advance Tax:  Excess Advance Tax paid by the tax payer voluntarily. TDS: The deductor deducts the tax when he pays the consideration to the Tax payer. TCS: When the deductor collects Tax from […]

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