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TCS EXEMPTION LIMIT
100 days of Iran war, Rs 4,50,000 crore wiped out: Is your stock portfolio safe from missiles?Indian equities have lost Rs 4.5 lakh crore in 100 days as the Iran-led West Asia conflict and a global AI trade unwind trigger sharp FII o...- Why investors are ready to play in global equity leagueIndian investors are increasingly looking overseas as global markets outperform domestic equities, driven by themes like AI. While internat...
- New income tax rules from April 1, 2026: From HRA relief to new ITR deadlines, key changes explainedNew income tax rules: Significant income tax changes are coming from April 1, 2026, with the Income Tax Act of 2025 replacing the 1961 act....
- Did Budget 2026 leave you richer or poorer? Find out hereBudget 2026 brings significant changes for Indians with overseas financial links. Remittances for education and medical treatment abroad wi...
- ITR alert: If you meet any of these 8 conditions, tax return filing is a mustITR filing mandatory: Many taxpayers believe that they have to file their income tax return only if their gross taxable income exceeds the ...
- TDS, TCS limits hiked in Budget 2025: Seniors, landlords, foreign travellers, students to benefitWhile senior citizens, landlords and those providing professional/technical services are the biggest beneficiaries of the TDS limit hike, t...
- New TDS, TCS limits for FY2025-26 for interest, dividends, prize money, rent announced in Budget 2025: Thresholds hikedLandlords, travellers and parents sending children abroad for education will also benefit
- More funds for international trips as Union Budget boosts TCS limit for foreign remittancesThe rise in the Tax Collection at Source (TCS) exemption limit on foreign remittances from Rs 7 lakh to Rs 10 lakh will provide extra funds...
- Income tax basic exemption limit hiked by Rs 1 lakh in new tax regime in Budget 2025: Check new tax exemption limitThe Union Budget 2025-26 increased the income tax basic exemption limit to Rs 4 lakh under the new tax regime, benefiting all taxpayers. A ...
- Banks say systems are not yet ready for new TCS regimeIndian banks are claiming that they do not yet have the requisite software to implement new rules relating to tax collection at source for ...
- Now ITR filing mandatory if your TDS, TCS is Rs 25,000 or more in a financial yearThe 7th proviso to Section 139 was inserted by the Finance Act, 2019, which provided for certain criteria which mandated the filing of inco...
- Who has to file income tax return mandatorily?As per income tax laws, ITR must be mandatorily filed if a resident individual's total income during the financial year exceeds the basic e...
- ITR filing must for these people even if income below exemption limitYou must file income tax returns in accordance with Indian tax laws if your income is greater than the basic exemption threshold. You must ...
- Travel industry seeks removal of 20% TCS on overseas packages"The TCS should be completely abolished or should be kept at a notional rate of 0.1% which will still meet the government objective of chec...
- No TCS on debit card, credit card forex payments of up to Rs 7 lakh from July 1, 2023: GovtThe Ministry of Finance on Friday, May 19, clarified that no TCS will be levied on individual payments using international debit and credit...
- No TCS on overseas spending up to Rs 7 lakh per year by credit or debit cards: GOIThe Government of India on Friday has announced that individuals making payments using their international debit or credit cards, up to Rs ...
- Union Budget: 10 things individual taxpayers should knowSurcharge for taxpayers with taxable income more than 5 crore has been reduced to 25% from 37% under the new tax regime. The highest tax ra...
- Govt notifies capital asset transfer from Air India to AIAHL, exempts tax provisions for divestmentIn four separate notifications, the Central Board of Direct Taxes (CBDT) specified that AIAHL will not be considered as ‘buyer’ in case of ...
- Is higher TDS applicable to non-ITR filers submitting Form 15G,H?In order to discourage the practice of not filing an income tax return by a person in whose case a substantial amount of tax has been deduc...
- Tax queries answered by Dilip Lakhani, Senior Chartered AccountantEvery week, an expert selected by ET answers queries from our readers on income tax and other levies. This week, the queries include those ...
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