The new tax law renumbers TDS return forms and introduces a unified reporting system. The key takeaway is that compliance remains the same, but form numbers and structure are simplified.
The issue was updating TDS reporting under the new tax framework. CBDT introduced standardized section codes to streamline compliance and improve accuracy in TDS filings.
The law restricts TDS corrections to a limited window ending 31 March 2026 for past years. Missing the deadline may result in permanent loss of tax credit.
The new Act consolidates TDS provisions into a single section for clarity. Despite structural changes, rates and thresholds remain largely unchanged.
Discover key direct tax changes in Union Budget 2025, including new income tax slabs, rebates, TDS limits, and other important proposals.
Learn about auto-populated liability in GSTR-3B, amendments via GSTR-1A, and upcoming restrictions on modifying pre-filled GST return details.
Learn about internal audit obligations under Section 138 of the Companies Act, 2013, including criteria, auditors, and penalties for non-compliance.
Explore the ins and outs of paying your GST liability using Credit Cards or Debit Cards. From transaction charges to step-by-step guides, discover a seamless payment experience. Stay informed!
Finance Ministry’s latest move imposes 18% GST on corporate guarantees for bank loans by parent companies to subsidiaries. Learn about key changes, including the taxable value calculation and exceptions for Director-issued guarantees. Stay informed on GST Council recommendations and the impact on businesses
With the Union Budget 2023, the Finance Minister, Nirmala Sitharaman, revised the presumptive taxation, amendment to section 194N and more – learn about the key highlights & takeaways.
