Impact of Increased TCS Rates on Foreign Remittances in India thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Form 26AS is an annual tax statement which primarily provides details of TDS, and tax collected at source (TCS), along with the corresponding income against which such deduction has been done.
The deadline for linking Aadhaar and PAN expired on June 30, 2023, and the government has not issued any extensions. From July 1, 2023, if PAN is not linked to Aadhaar, it will become inoperative.
A more robust AIS will replace Form 26 AS. While the move is being regarded as a step in the right direction, some CAs and taxpayers complain taxes paid aren t reflected in the AIS.
Facing TDS even on tiny dividend payouts? Here’s what you must do
Claiming TDS refund is a tedious process if you haven’t yet got your TDS certificate. COVID-19 has led to delays in companies filing information in Form 26AS December 23, 2020 / 09:49 AM IST
Many taxpayers have complained of late that their dividends below Rs 5,000 have been subjected to Tax Deduction at Source (TDS). As per income-tax rules, companies deduct a 10 percent TDS for dividends of more than Rs 5,000 in a financial year. The entire dividend amount is taxable at your slab rate. Due to COVID-19, the TDS has been relaxed to 7.5 percent for the current financial year. If you don’t have a Permanent Account Number (PAN), then the TDS rate is steeper, at 20 percent.