The income tax department clarified that employees will have to inform their employers about their intention to opt for the new optional tax regime to enable the latter to deduct TDS while paying salaries. The new income tax regime, announced in Budget, provide an option to individuals and Hindu Undivided Families …
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To mitigate the hardships to taxpayers, Central Board of Direct Taxes (CBDT) on Thursday provided clarification on orders under Section 119 of the Income-Tax Act, 1961 issued relating to the issue of certificates for lower deduction/collection of TDS/TCS. With regard to the issue of the validity period of lower/nil deduction/collection …
Read More »In the wake of the outbreak of Coronavirus (COVID-19), the Central Board of Direct Tax (CBDT) has issued the directions on regarding the issue of certificates for lower rate/ nil deduction/ collection of Tax Deducted at Source (TDS) or TCS. The Central Board of Direct Tax (CBDT) issued the Order …
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