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

Individuals miffed at tax collection at source (TCS) proposals have now been offered a small relief – provided they have salary income. 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. The employee then does not have to worry about paying advance tax as adequate tax has already been withheld.