Sending money abroad? Here’s how to reclaim your TCS
I want to send money to my son in the US under the Liberalised Remittance Scheme (LRS). I understand that tax collected at source (TCS) has to be paid on each transaction. How can I reclaim this amount? —Name withheld on request It is assumed that you qualify as a resident in India, as per […]
What is AIS, how to download it and how it helps taxpayers in ITR filing?
Before AIS, form 26AS served, for many years, as a consolidated tax statement offering a comprehensive overview of a taxpayer’s transactions encompassing details such as TDS, TCS, advance tax and self-assessment tax. In 2019, the tax department extended the usage of AIS by introducing the facility of pre-filled tax returns based on the information already […]