Practical Guide On TDS and TCS

This 24th Edition (2025) of Practical Guide on TDS and TCS by G. Sekar, updated as amended by the Finance Act, 2025, serves as a comprehensive and practical reference for professionals, corporate executives, academicians, and students dealing with Tax Deduction at Source (TDS) and Tax Collection at Source (TCS). It is fully updated for the Financial Year 2025–2026 and incorporates recent amendments, circulars, notifications, and judicial decisions.

The book presents the law relating to TDS and TCS in a clear, logical, and practice-oriented manner, supported by numerous illustrations, practical FAQs, and step-by-step e-filing procedures. Its structured approach makes it equally useful for academic learning and day-to-day compliance work.

The content spans the full scope of TDS and TCS provisions, including:

• Statutory framework and applicability of TDS and TCS under the Income Tax Act, 1961

• Persons liable to deduct or collect tax and relevant threshold limits

• Rates of deduction and collection for various transactions

• Timing of deduction/collection and due dates for payment to the government

• E-filing of TDS/TCS returns – step-by-step procedures

• Issue of TDS/TCS certificates and filing of correction statements

• Procedures for lower or nil deduction certificates under section 197

• Interest, penalties, and prosecution provisions for defaults

• Special provisions for non-residents and foreign remittances

• Refunds of excess TDS/TCS and procedures for claim

• Practical examples for computation under various payment scenarios

• Extensive FAQs addressing compliance and interpretation queries

• Ready-reference tables for rates, due dates, and penalty provisions

This edition is particularly suitable for:

• Chartered accountants, tax consultants, and compliance officers

• Payroll managers, accounts executives, and finance professionals

• Law and commerce students preparing for taxation-related professional exams

• Academicians and trainers specialising in tax compliance and procedures

Whether used for professional practice, corporate compliance, or academic preparation, this updated edition delivers a complete, authoritative, and practical understanding of TDS and TCS provisions under Indian tax law.