Tax deduction and collection at source

All laws which seek to impose taxes also provide the mode of collection of such tax. Tax deduction and tax collection at source are the two most important and efficacious methods of gathering income tax. Provisions relating to TCS and TDS now apply in respect of a wide variety of incomes and payments. These provisions are beneficial both to the tax payers as well as the tax administrators. Failure to deduct or collect tax at source from the specified incomes and payments is punishable with penalty/interest/fine and deliberate defaults attract criminal prosecution. Further there are a score of obligations of filing statements, returns by those responsible for deducting or collecting tax at source and thus the provisions relating to TDS/TCS have cast a very heavy burden on those responsible for paying and disbursing different kinds of payments. Therefore a study of the law and procedure relating to tax deduction and tax collection at source is very important and absolutely essential not only for tax payers and disbursing officers but also for the tax administrators and tax professionals.

This Book, which is a pioneering work, is a comprehensive, exhaustive and critical appraisal of the entire gamut of law relating to TDS and TCS. These provisions undergo enormous changes every year. This Fifteenth Edition has been revised and updated in the light of the changes effected by the Finance Act, 2013, as well as case law and other developments like CBDT clarifications and elucidations reported up to the end of March 2013.