Practical Approach to TDS & TCS – 2026 Edition

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Practical Approach to TDS & TCS - 2026 Edition

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Title: Practical Approach to TDS & TCS

Author: CA R.S.Kalra Forwarded CA Sanjay Kumar Agarwal

Edition: 4th edn., 2026

Publisher: Bharat Law House

 

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About Practical Approach to TDS & TCS
Two Golden Rules of TDS
A Comparative Study: Income Tax Act 1961 v/s Income Tax Act 2025
TDS Rates for Financial Year 2025-26 (Assessment Year 2026-27) (Where Recipient is Resident)
TDS Rates for Financial Year 2025-26 (Assessment Year 2026-27) (Where Recipient is Non-Resident)
TCS Rates for Financial Year 2025-26 (Assessment Year 2026-27) (Rates of Tax Collected at Source)
Payment of Salary — Section 392
Payment to Residents (Other than Salary) — Section 393(1)
Payment to Non-Residents —Section 393(2)
Payment to any person — Section 393(3)
TCS Rates — Section 394 (As Amended by Finance Act, 2026)
Practical Checklist for Deducting TDS on Business Payments
Introduction
Part A
Tax to be Deducted on Salary and Accumulated
Balance due to an Employee
Part B
Tax to be Deducted at Source for
Payments to Residents
Chapter B-1TDS on Insurance Commission [(Sec 393(1) Table SI. 1(i) ITA 2025) (Sec 194D ITA 1961)]
Chapter B-2Commission or Brokerage [(Sec 393(1) Table SI.1(ii) ITA 2025) (Sec 194H ITA 1961)]
Chapter B-3TDS on Payment of Rent by Certain Individual/HUF [(Sec 393(1) Table S1.2(i) ITA 2025) (Sec 194IB ITA 1961)]
Chapter B-4Rent [(Sec 393(1) Table Sl.2(ii) ITA 2025) (Sec 194I ITA 1961)]
Chapter B-5TDS on Payment on Transfer of certain Immovable Property other than Agricultural Land [(Sec 393(1) Table SI.3(i) ITA 2025) (Sec 194-IA ITA 1961)]
Chapter B-6TDS on Payment made under Specified Agreement [(Sec 393(1) Table SI.3(ii) ITA 2025) (Sec 194IC ITA 1961)]
Chapter B-7TDS on Payment of Compensation on Acquisition of Certain Immovable Property [(Sec 393(1) Table SI.3(iii) ITA 2025) (Sec 194LA ITA 1961)]
Chapter B-8Tax Deduction on Income from Mutual Fund Units [(Sec 393(1) Table SI.4(i) ITA 2025) (Sec 194K ITA 1961)]
Chapter B-9TDS on Certain Income from Units of a Business Trust [(Sec 393(1) Table SI.4(ii) ITA 2025) (Sec 194LBA ITA 1961)]
Chapter B-10TDS on Income of Units of Investment Fund [(Sec 393(1) Table SI.4(iii) ITA 2025) (Sec 194LBB ITA 1961)]
Chapter B-11TDS on Income from Investment in Securitization Fund [(Sec 393(1) Table SI.4 (iv) ITA 2025) (Sec 194LBC ITA 1961)]
Chapter B-12Interest on Securities [(Sec 393(1) Table SI.5(i) ITA 2025) (Sec 193 ITA 1961)]
Chapter B-13Interest other than Interest on Securities [(Sec 393(1) Table SI.5(ii)(iii) ITA 2025) (Sec 194A ITA 1961)]
Chapter B-14Payments to Contractors and Sub-Contractors [(Sec 393(1) Table SI.6(i) ITA 2025) (Sec 194C ITA 1961)]
Chapter B-15TDS on Payments of Certain Sums by Individual and HUF [(Sec 393(1) Table SI.6(ii) ITA 2025) (Sec 194M 1961)]
Chapter B-16Fees for Professional or Technical Services [(Sec 393(1) Table SI.6 ITA 2025) (Sec 194J ITA 1961)]
Chapter B-17Dividends [(Sec 393(1) Table Sl.7 ITA 2025) (Sec 194 ITA 1961)]
Chapter B-18TDS on Payment in respect of Life Insurance Policy [(Sec 393(1) Table SI.8(i) ITA 2025) (Sec 194DA ITA 1961)]
Chapter B-19Deduction of Tax at Source on Purchase of Goods [(Sec. 393(1), Table Sl. No. 8(ii) ITA 2025) (Sec 194Q ITA 1961)]
Chapter B-20Deduction of Tax by a Specified Bank in Case of Specified Senior Citizen [(Sec 393(1) Table Sl.8(iii) ITA 2025) (Sec 194P ITA 1961)]
Chapter B-21TDS on Perquisites in respect of Business [(Sec 393(1) Table Sl.8(iv) ITA 2025) (Sec 194R ITA 1961)]
Chapter B-22TDS on Payments made to e-Commerce Participants [(Sec 393(1) Table Sl.8(v) ITA 2025) (Sec 194O ITA 1961)]
Chapter B-23Payment on Transfer of Virtual Digital Asset [(Sec 393(1) Table 8(vi) ITA 2025) (Sec 194S ITA 1961)]
Part C
Tax to be deducted at Source for Payments to Non-Residents
Chapter C-1Payment to Non-Resident Sports Men or Sports Association [(Sec 393(2) ITA 2025 Table S. No 1) (Sec 194E ITA 1961)]
Chapter C-2Income by way of Interest from an Indian Company or Business Trust [(Sec 393(2) ITA 2025 Table S. No 2-4) (Sec 194LC ITA 1961)]
Chapter C-3TDS on Interest from Infrastructure Debt Fund [(Sec 393(2) ITA 2025 Table S. No 5) (Sec 194LB ITA 1961)]
Chapter C-4TDS on certain Income from Units of a Business Trust [(Sec 393(2) ITA 2025 Table S. No 6-7) (Sec 194LBA ITA 1961)]
Chapter C-5TDS on Income of Units of Investment Fund [(Sec 393(2) ITA 2025 Table S. No. 8) (Sec 194LBB ITA 1961)]
Chapter C-6TDS on Income from Investment in Securitization Fund [(Sec 393(2) ITA 2025 Table S. No. 9) (Sec 194LBC ITA 1961)]
Chapter C-7Income in respect of Units of Non-Residents [(Sec 393(2) Table S. No 10 ITA 2025) (Sec 196A ITA 1961)]
Chapter C-8TDS on Income from Units [(Sec 393(2) Table S. No. 11-12 ITA 2025) (Sec 196B ITA 1961)]
Chapter C-9TDS on Income from Foreign Currency Bonds or GDR [(Sec 393(2) ITA 2025 Table S. No. 13-14) (Sec 196C ITA 1961)]
Chapter C-10TDS on Income of FII from Securities [(Sec 393(2) ITA 2025 Table S. No. 15-16) (Sec 196D ITA 1961)]
Chapter C-11TDS on other sums payable to Non-Resident [(Sec 393(2) ITA 2025 Table S. No. 17) (Sec 195 ITA 1961)]
Part D
Tax to be deducted at source for Payments to any Person
Chapter D-1Winnings from Lotteries or Crossword Puzzles [(Sec 393(1) Table SI.1 ITA 2025) (Sec 194B ITA 1961)]
Chapter D-2Winnings from Online Games [(Sec 393(1) Table SI.2 ITA 2025) (Sec 194BA ITA 1961)]
Chapter D-3Winnings from Horse Races [(Sec 393(1) Table Sl.3 ITA 2025) (Sec 194BB ITA 1961)]
Chapter D-4Commission on Sale of Lottery Tickets [(Sec 393(1) Table Sl.4 ITA 2025) (Sec 194G ITA 1961)]
Chapter D-5Cash Withdrawal [(Sec 393(1) Table Sl.5 ITA 2025) (Sec 194N ITA 1961)]
Chapter D-6Payments in respect of NSS [(Sec. 393(3) (Table Sl. 6) ITA 2025) (Sec 194EE ITA 1961)]
Chapter D-7Payments to Partners of Firms [(Sec 393(1) Table Sl.7 ITA 2025) (Sec 194T ITA 1961)]
Part E
Collection of Tax at Source
Part F
Procedural Mechanism for Deposit and Reporting of TDS and TCS
Chapter F-1Compliance and Reporting of TDS and TCS [Section 397 (erstwhile sections 203A, 206CA of ITA 1961)]
Chapter F-2Processing of TDS and TCS Returns
Chapter F-3Consequences for Failure to Deduct/Collect or Deposit TDS or TCS
Chapter F-4Certificates (Sec 395)
Chapter F-5Tax Deducted is Income Received (Sec 396)
Chapter F-6Non-Deduction of TDS in Certain Cases
Part G
Mechanism for Examination of TDS/TCS Compliance in Tax Audit
Report by Auditors
Chapter G-1 Checklist for Clause 34 of Tax Audit Report to be considered by Auditors
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