Finance (No. 2) Act, 2024—TDS/TCS Tedium in TDS Credits

SUBSCRIBE FOR FULL CONTENT


The Tax Publishers Finance (No. 2) Act, 2024--TDS/TCS Tedium in TDS Credits Srivatsan Ranganathan Claiming TDS credits has its own nuances which are dealt in this article. 1. Under Section 199 any TDS/TCS done on behalf of a deductee is available as a tax credit in the hands of the deductee as it is akin to have been paid on behalf of the deductee as per law. Rule 37BA of the Income Tax Rules details the manner as to how this credit will be available. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Finance (No. 2) Act, 2024--TDS/TCS

Tedium in TDS Credits

Srivatsan Ranganathan

Claiming TDS credits has its own nuances which are dealt in this article.

1. Under Section 199 any TDS/TCS done on behalf of a deductee is available as a tax credit in the hands of the deductee as it is akin to have been paid on behalf of the deductee as per law. Rule 37BA of the Income Tax Rules details the manner as to how this credit will be available.