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News
tax collection at source
Tax collection at source News
Interim Budget 2024
28 Jan 2024
Decoding The Budget: Take A Look At 10 Key Budget Terms Crucial For Taxpayers
Let's break down some key terms to make sense of the upcoming budget and understand what lay taxpayers can expect.
TCS
02 Jun 2023
What The Hike In Tax Collection At Source Means for Students Studying Abroad
Budget 2023 hiked TCS rate for certain foreign remittances to 20%. For educational purposes, foreign remittances below Rs 7 lakh under the LRS will not be subject to TCS. The TCS rate of 20% applies to expenses covered by forex cards.
tax on cash payments
23 Mar 2017
Government removes 1% tax on cash payments of over Rs 2 lakh
The government has done away with the 1 percent tax on cash payments of over Rs 2 lakh for purchase of any goods or service after it banned cash dealings above that limit from April 1.
tax collection at source
22 Aug 2016
1% TCS on cash buy not to apply on embassies, UN bodies, Govt depts
Government department, embassies, consulates and UN bodies will be among those exempted from the levy of 1 percent tax collection at source (TCS) on cash purchases of above Rs 2 lakh, CBDT said Monday.
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