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Tax deduction at source. Tax deduction at source (TDS) is an Indian withholding tax that is a means of collecting tax on income, dividends, or asset sales by requiring the payer (or legal intermediary) to deduct tax due before paying the balance to the payee (and the tax to the revenue authority). Under the Indian Income Tax Act of 1961, income ...
TDS/TCS returns will not be accepted if TAN is not quoted and challans for TDS/TCS payments will not be accepted by banks. Failure to apply for TAN or not quoting the same in the specified documents attracts a penalty of ₹10,000 No documents are required to be filed with the application for allotment of TAN. However, where the application is ...
Tata Consultancy Services Limited ( TCS) is an Indian multinational information technology (IT) services and consulting company headquartered in Mumbai. [7] [8] It is a part of the Tata Group and operates in 150 locations across 46 countries. [9] In March 2024, it was reported that TCS had more than 601,546 employees worldwide.
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Income tax return (India) Income tax return is the form in which assesses file information about his/her income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses. [1] The Income Tax Act, 1961, and the ...
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t. e. The Income Tax Department (also referred to as IT Department; abbreviated as ITD) is a government agency undertaking direct tax collection of the government of India. It functions under the Department of Revenue of the Ministry of Finance. [5] The Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT).