TDS and TCS returns may be furnished physically or electronically depending on status of the deductor. Any person or entity, while making specified payments to another person (third party), needs to ...

Form 27Q is used for quarterly filing of TDS returns electronically on any payment other than salary to non- residents, including NRIs and foreigners. The income tax department has amended the TDS ...

The income tax department has amended the TDS form, making it more comprehensive and mandating deductors to state reasons for non-deduction of tax. As per the amended form, banks will also have to ...

New Delhi, Jul 5 () The income tax department has amended the TDS form, making it more comprehensive and mandating deductors to state reasons for non-deduction of tax. As per the amended form, banks ...

The revised forms and rules also seek to incorporate reporting for new sections of TDS inserted in the Income Tax Act, such as Section 194N for cash withdrawals, Section 197A permitting non-deduction ...

After introducing new TDS (tax deducted at source) rates for high-value cash withdrawals from banks, the income tax department has now amended TDS rules further to tighten the noose and seek more ...

According to the amended form, banks will also have to report tax deducted at source (TDS) for cash withdrawals above Rs 1 crore. Shutterstock The income tax department has amended the TDS form, ...

As per Income Tax Act 1961, any person responsible for paying to Non Resident or Non Resident Indian, neither being a company nor being a foreign company, of any interest or any other sum chargeable ...