Latest Stories

Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Tax Collection At Source (TCS) Provision Under GST

According to section 52 of CGST Act, 2017, every E-commerce (Like Amazon, Flipkart, Snapdeal, online travel agents etc) shall collect TCS @  1% of the net value of taxable supplies made through it by other registered suppliers where the consideration with respect to such supplies is to be coll...

Pay tax on cash purchase of above 2 lakh (TCS)

Section 206C of the Income tax Act, 1961 requires the seller to collect tax at source at the specified rate from the buyer at the time of sale of specified items such as alcoholic liquor for human consumption, tendu leaves etc. It also requires collection of tax at source (TCS) @ 1% on sale in cash ...

Tax Collections at Source (TCS)

As per the constitution of India, Governments have the authority to collect tax within their jurisdiction and power conferred upon them. Central Government collect two type of taxes i.e. direct tax and indirect tax. Governments are solely responsible for the collection of taxes, however in many case...