if a person did not file Income Tax Return (ITR), then TDS / TCS was deducted from him at a higher rate. It has been proposed to remove this provision in Budget 2025, so that now common taxpayers ...

New TDS, TCS rules 2025: Under the new provisions ... TDS is applicable to various payments based on specified thresholds and rates. These reforms aim to ease tax compliance for taxpayers and ...

The move comes as the government, in this year’s budget, revealed rationalisation of TDS and TCS rates by reducing the number of slabs and increasing thresholds for deductions. “There is a ...

It has also formulated a 16-point plan to identify TDS defaults. “TDS and TCS rates have been rationalized by reducing the number of rates and lowering thresholds above which TDS is deducted.

The Union Budget 2025 has introduced significant changes to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS), aimed at easing tax compliance for individuals and businesses. Effective ...

The government has introduced significant changes in TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) rules, set to take effect from April 1, 2025. These updates aim to simplify tax ...

If the investment is held for a lesser period, short-term gains are taxed at the income tax slab rate ... TCS (tax collected at source) of 20% is applicable. Remember, TCS can be adjusted against ...

In the Union Budget 2024, the government made changes to TDS and TCS rules by simplifying tax rates and increasing the threshold limits for deductions. These changes were designed to help honest ...

Union Budget 2024 Revised TDS TCS Rules In the Union Budget 2024, the government modified TDS and TCS regulations, reducing the number of tax rates while raising the threshold limits for deductions.

TDS on enhanced Compensations 194LA 0% “up to” INR 2,50,000 0% “up to” INR 5,00,000 (ii) Now “scope” for forest produce is clarified like sellers are liable for TCS against sale of “other forest ...