Budget 2024: How TCS is set to become less TDS for salaried class

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The story "Budget 2024: How TCS is set to become less TDS for salaried class" was covered 12 hours ago by Times of India, a news publisher based in India.

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Times of India 12h ago

Budget 2024: How TCS is set to become less TDS for salaried class - Times of India

Quick Summary:

At present, a salaried employee may declare income, such as bank interest and rent, to their employer, who factors this and, accordingly, deducts a higher tax against the monthly salary.

Individuals miffed at tax collection at source (TCS) proposals have now been offered a small relief - provided they have salary income.

The employee then does not have to worry about paying advance tax as adequate tax has already been withheld.