If you had paid TDS or TCS on time, but due to technical difficulties it was deposited late in the government account, then now you will not have to worry about paying interest. The Central Board of ...

Did you book a foreign holiday recently and have to shell out an extra 5% or 20% in tax collected at source (TCS)? There’s good news if you’re a salaried employee. Did you book a foreign holiday ...

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. TDS means tax deducted at source—which ...

Three announcements were particularly noteworthy. First, the limit for tax deduction on interest for senior citizens has been doubled from the present ₹50,000 to ₹1 lakh. “Threshold amounts for tax ...

Union Budget 2025: Finance Minister Nirmala Sitharaman during Budget 2025 proposed to rationalise tax deduction at source ...

The new Income Tax Bill 2025, set to be tabled in Parliament on Thursday, marks a historic moment in India’s tax landscape, as it will replace the current year legislation introduced way back in 1961.

Budget 2025 introduces higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS), aiding small taxpayers and gig workers. TDS on dividend income's limit rises from Rs 5,000 ...

The landmark Income-tax Act, 2025, which replaced the six-decade-old 1961 law, promised simplicity by eliminating provisos and explanations. But according to O.P. Yadav, former Principal Commissioner ...

BENGALURU: In a significant step to simplify the tax regime and also to reduce the compliance burden, the government has announced to reduce the number of TDS (tax deducted at source) rates. Also, the ...