The main difference between Income Tax and TDS is that the Income Tax is deducted from the payer’s overall profit or annual return, on the other hand, TDS refers to the tax deducted from the payer’s sources of income based on the expected tax liability
Congress had earlier claimed that its bank accounts were frozen by the IT Department as the cheques being issued by it were not being honoured by the financial institutions.
Starting in 2024, tax data and data wrangling and calculation tools will be critical for multinational corporations complying with Pillar Two rules. Find out more in this latest episode.
Another retroactive tax bill could make for a complicated season. FinCEN drops more proposed regulations. Plus, what first-time filers need to know about taxes.