Tax collected at source on the sale of goods


Tax deductions at source, primarily called as TDS (Withholding Tax in some countries), are collected for making the payment of services. Likewise, Tax collected at sources (TCS) is a significant method employed by the tax authorities to gather taxes on the sales of certain goods. The government ensures all sellers collect TCS at the point […]

Interest for Late Payment of TDS

What is TDS (Tax Deduct at Source) TDS is the concept developed to ensure tax is collected where the income is generated, which means the source. TDS is deducted for the payment or credit, whichever is earlier, meaning when the person (Deductee) makes the payment or credit in the books, it must be deducted at […]