Law and Procedure of Compliance of Deduction of Tax at Sources (TDS) & Collection of Tax at Source (TCS) (As Amended by Finance Act, 2022)

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Description
TDS, as a concept, was introduced under Income-tax Act by the government to collect income at its very source itself rather than waiting for the taxpayers to pay tax. This enables ease of tax collection, tracking, and gathering of information during the year in which transaction is carried instead of waiting for the assessment to be conducted. In the present scenario, the provisions of the Income Tax Act relating to Tax Deduction at Source "TDS" are of immense importance when TDS collections account for almost 40% of total collection of Direct Taxes, TDS is a mechanism of collecting tax which combines twin concepts of "pay as you earn" and "collect as it is being earned." It is one of the modes or mechanisms of collecting tax under the Income Tax Act, 1961. It facilitates the Government with a continuous flow of funds and at the same time, eases the burden on the taxpayer. This book deals with all the legal aspects of Tax deduction at source and Tax collection at source under the Income Tax Law. It brings out all the essential aspects of TDS and TCS and will be of very great use to the all  concerns. It will also be a comprehensive aid to all the concerns for understanding the complex provisions of TDS and TCS. Each chapter provides the introduction, conditions and other requirements to be fulfilled. This book contains all aspects of Tax Deduction at Source (TDS) and Tax Collection at Source (TCS), the detailed scheme of TDS and TCS, various deductions under TDS and TCS, procedural compliances as well as consequences for non-compliance. In the end chapter tax rates of TDS and TCS have been provided for a ready reference.
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Table of Contents
Chapter 1 : Introduction
Chapter 2 : Taxes Deducted/Collected or Paid as Advance Tax in the Previous Years
Chapter 3 : Direct Payment
Chapter 4 : TDS from Salary
Chapter 5 : TDS from Payment of Accumulated Balance due to an Employee
Chapter 6 : TDS from Interest on Securities
Chapter 7 : TDS from Dividends
Chapter 8 : TDS from Interest other than Interest on Securities
Chapter 9 : TDS from Winnings from Lottery, Crossword Puzzle, Card Games, Etc
Chapter 10 : TDS from Winning from Horse Races
Chapter 11 : TDS from Payment to Contractors & Sub-Contractors
Chapter 12 : TDS from Insurance Commission 
Chapter 13 : TDS from Payment in Respect of Lief Insurance Policy
Chapter 14 : TDS from Payments to Non-Resident Sports Associations
Chapter 15 : TDS from Payments in Respect of Deposits under National Savings Scheme, etc.
Chapter 16 : TDS from Payment on Account of Repurchase of Units by Mutual Funds or Unit
                         Trust of India
Chapter 17 : TDS from Commission, etc. on Sale of Lottery Tickets
Chapter 18 : TDS from Commission or Brokerage
Chapter 20 : TDS from Rent
Chapter 21 to Chapter 86
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Author Details
Ram Dutt Sharma got his post-graduation (M.Sc.) from M.D. University, Rohtak in 1980. He joined the Income-tax Department in the year 1983 and presently working as Income Tax Officer in Faridabad. He worked at various stations of North-West Region of Income Tax Department. He has wide experience of all wings of Income Tax Department such as assessment unit, Special Range, TDS Wing, Investigation Wing, Intelligence and Criminal Investigation etc. He has been contributing articles and addressing on topics relating to Income Tax at Direct Tax, Regional Training Institute, Chandigarh. He has also addressed number of seminars organized by the Income-tax Department, Chartered Accountants, Advocates and various Trade Associations. He is the author of number of books on direct taxes, namely Computation of income from salary under income tax law with tax planning, Computation of income from house property, Formation and Management of Charitable mad Religious Trust, Educational and Medical Institutions under income- tax law, Taxation of Non-Resident Indians under income-tax law etc. which have been highly appreciated by the readers.