Finance, Tax & Legal Dictionary

Searchable dictionary of finance, tax, accounting and legal terms with statutory references.

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TANTax Deduction and Collection Account Number, needed by anyone who deducts or collects tax at source.Tax AuditAn audit of accounts required for businesses and professionals above specified limits.Tax YearThe single year concept that replaces 'previous year' and 'assessment year' under the new Act.TCS (Tax Collected at Source)Tax collected by the seller from the buyer on specified transactions.TDS (Tax Deducted at Source)Tax cut by the payer before making certain payments and deposited with the government.True and Fair ViewFinancial statements that are free from material misstatement and fairly presented.

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