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TDS AND TCS CHANGES
ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing seasonThe I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...
Salaried employees beware! These 5 mistakes during ITR filing can trigger unexpected tax demandsWith the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are ...
May 2026 income tax calendar: Important TDS, TCS deadlines and other due dates explainedTaxpayers, mark your calendars for May 2026! Crucial compliance deadlines loom, including TDS/TCS deposits for April and certificate issuan...
ITR filing 2026: Don’t miss these key income tax deadlines for FY 2025–26 (AY 2026-27)Navigating income tax deadlines for FY 2025-26 (AY 2026-27) is crucial to avoid penalties. The Income Tax Department has set specific due d...
New TDS and TCS changes for Tax Year 2026-27: Check 6 important tax updates now
Six big TDS & TCS changes for Tax Year 2026-27: From TDS on NRI property to TCS on overseas remittance for education, know all that has changedNew tax rules for Tax Year 2026-27 begin April 1, 2026. Key changes affect TDS on NRI property and TCS on overseas remittances for educatio...
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....
PAN-Aadhaar link deadline today: What will happen if your PAN becomes inoperative?PAN-Aadhaar link deadline: Linking your PAN and Aadhaar by December 31, 2025, is vital. Missing this deadline makes your PAN inoperative. T...
Form 16 changes: Higher standard deduction for these taxpayers, and other changes in Form 16 for FY 2024-25 (AY 2025-26)Form 16 TDS Certificates ITR filing: Due to the income tax changes made in the FY 2024-25 (AY 2025-26), Form 16 will show certain changes t...
Investors, foreign travellers to get more cash in hand as Budget 2025 hikes TDS, TCS limitsBudget 2025 has proposed higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS). The new thresholds will aid ...
Budget has 10 big tax changes for India Inc: What you need to knowUnion Finance Minister Nirmala Sitharaman's eighth Budget emphasizes tax reforms to benefit businesses. Key updates include tax breaks for ...
Union Budget: TDS relief for small taxpayers, TCS boost for international tripBudget 2025 proposes increasing threshold limits for tax deducted at source (TDS) across various income categories, benefiting small taxpay...
Sitharaman just gave NRIs more reasons to park their cash in IndiaFinance Minister Nirmala Sitharaman proposed raising the tax collected at source (TCS) threshold on remittances under the RBI’s Liberalized...
Budget 2025: TDS, TCS rejig will offer relief to businessesThere are a variety of TDS provisions applicable with different rates and different thresholds. There are about 33 Sections in the Income- ...
TDS limit for interest income of senior citizens doubled from Rs 50,000 in Budget 2025TDS limit in Budget 2025: Tax deducted at Source (TDS) rate has been rationalised. The limit for TDS for senior citizens is being doubled f...
TDS relief for salaried: From January 1, 2025 TDS statement will reflect the net TDS/TCS benefit on eligible incomeTDS on salary: Now salaried taxpayers will be able to see how much benefit of lower TDS they got in the TDS certificate statement from Q4 2...
New form to reduce TDS from salary: CBDT issues Form 12BAA to tell employer about other taxes paid by youForm 12BAA to reduce TDS from salary: The Central Board of Direct Taxes has notified a new form called Form 12BAA. The new form notified by...
The tax tweaks that you need to be aware of if you're planning to study or travel abroadThe Indian government’s Budget 2024 proposed lowering Tax Deducted at Source (TDS) on salaries, helping individuals who have paid Tax Colle...
Missing ITR filing for even 1 year can lead to higher TDS: Budget 2022The higher TDS/TCS law was announced in Budget 2021 and became effective from July 1, 2021. Higher TDS and/or TCS is applicable to those in...
New TDS/TCS regime from July 1 - are you ready?The new provision coming into effect requires both sellers and buyers to undertake due diligence w.r.t. tax return filing status of the oth...