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<\/i> Income tax <\/a> Got TCS on Your Tax Statement? Here's What It Means for You! <\/h1> <\/div>
This blog demystifies Tax Collected at Source (TCS) for taxpayers, especially for Financial Year 2024-25 (Assessment Year 2025-26). It explains what TCS is, lists common transactions where it applies (like motor vehicle sales, overseas tour packages, and foreign remittances under LRS), and details how TCS affects one's tax liability. The post guides readers on how to reconcile TCS entries using their AIS\/TIS and claim the correct credit when filing their Income Tax Return, helping them ensure accurate tax compliance and avoid discrepancies. <\/p>
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<\/div> Krishna Gopal Varshney <\/a>
An editor at Myitronline<\/p> <\/div>

Jul 28, 2025<\/li>
5 min read<\/li>
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# #AIS<\/a> <\/li>
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This blog demystifies Tax Collected at Source (TCS) for taxpayers, especially for Financial Year 2024-25 (Assessment Year 2025-26). It explains what TCS is, lists common transactions where it applies (like motor vehicle sales, overseas tour packages, and foreign remittances under LRS), and details how TCS affects one's tax liability. The post guides readers on how to reconcile TCS entries using their AIS\/TIS and claim the correct credit when filing their Income Tax Return, helping them ensure accurate tax compliance and avoid discrepancies.

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Krishna Gopal Varshney <\/a><\/h4> An editor at Myitronlinenews<\/small> <\/div> View Articles<\/a> <\/div>
Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business\/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates. <\/p> <\/div> <\/div>

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