New TDS, TCS rules 2025: Under the new provisions, senior citizens will be exempt from TDS on interest income up to ₹1 lakh per year.(Mint) The new income tax bill has changed the TDS (Tax Deducted at ...

From October 1, 2024 the government has made it mandatory for employers to give benefits of TDS/TCS deducted on non-salary income while computing TDS to be deducted from salary. Adjustment of tax ...

Individuals must pay advance tax in instalments if their total tax liability for the year surpasses Rs 10,000 after TDS/TCS ...

The Centre in the Budget announced many important changes related to tax, especially to make TDS and TCS easy and simple. The purpose of these changes – which will be effective from April 1, 2025 – is ...

In a move that eases the burden on taxpayers and businesses, the Central Board of Direct Taxes (CBDT) has announced relief for those who received tax demand notices for short deduction or collection ...

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. In India, we have over 80 million tax ...

In a relief to Income Tax deductors and collectors, Central Board of Direct Taxes (CBDT) has widened the window for avoiding adverse consequences arising from inoperative PANs (Permanent Account ...

Imagine realizing in March that you owe additional taxes—plus interest—because you missed your advance tax payments. For many salaried individuals earning extra income from fixed deposits, stocks, or ...

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 ...

Ahmedabad: According to the new TDS-TCS correction rules, taxpayers can file correction statements for six years from the financial year in which the original statement was due. The deadline for ...