The Finance Bill 2025 proposes removing Sections 206AB & 206CCA, eliminating higher TDS/TCS rates for non-filers, reducing compliance burden from April 2025.
TCS on sales exceeding ₹50 lakh under Section 206C(1H) will be removed from April 1, 2025, reducing compliance burden for sellers. Learn more about the changes.
The Finance Bill 2025 amends Section 206C, defining “forest produce” and revising TCS rates. Timber and forest produce under lease will be taxed at 2% from April 1, 2025.
The Finance Bill 2025 clarifies the start and end dates for excluding court-stayed periods in tax proceedings, effective from April 1, 2025.
From April 2025, Section 275 amendments standardize the penalty timeline to six months from the end of the quarter in which proceedings or appeals are completed.
From April 2025, updates to Sections 132 & 132B will streamline search and seizure processes, extending approval timelines and updating legal references.
Section 194K amendment raises TDS threshold on mutual fund unit income from Rs. 5,000 to Rs. 10,000 per year, effective April 2025.
Section 194-I amendment raises rent TDS threshold to Rs. 50,000 per month, effective April 2025.
Section 194H amendment raises TDS threshold for commission or brokerage payments from Rs. 15,000 to Rs. 20,000, effective from April 2025.
Section 194BB amendment to apply TDS on horse race winnings exceeding Rs. 10,000 in a single transaction, effective from April 2025.
