Anushka Rathod Instagram – Good News for salaried employees!!
Check out the whole reel to know!
For Example – Say you book a tour package of over Rs. 7 lakhs in April or May during summer holiday, then a 20% TCS is charged.
This money can only be refunded when filing ITR next year, typically in June or July. That means you have to wait over a year for the refund.
After filing ITR, processing the refund can take an additional month or more before it’s credited to the filer’s account.
But now employees can offset TCS paid against TDS from their salary.
This reduces TDS deductions, resulting in higher take-home pay and they don’t need to wait until filing ITR to benefit from the TCS payment.
This proposed amendment will come into effect from 1st October 2024.
Note: Finance Bill 2024 has still not received Presidential assent.
So, share this reel with your salaried friends!!
[Anushka Rathod, finance, budget, salaried, TCS, news]
#anushkarathod #finance #budget #salaried #tcs #news | Posted on 30/Jul/2024 19:29:03
