Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.
Income Tax : The Income-tax Department is increasingly relying on AI-based verification and automated reconciliation systems to detect discrepa...
Income Tax : The New Income Tax Act, 2025 replaces multiple TDS and TCS provisions with consolidated Sections 392, 393 and 394 effective from F...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for May 2026. It highlights filing requirements under income tax...
Goods and Services Tax : The content addresses key statutory deadlines under income tax and GST laws for May 2026. It highlights due dates and compliance r...
Income Tax : The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity,...
Income Tax : Rule 219 prescribes Forms 138, 140, 142–144, fixed quarterly due dates, special challan-cum-statements for specified transaction...
Income Tax : Rules 212–213 introduce Form 127 for buyer declarations to avoid TCS and Form 128 for obtaining lower or nil TDS/TCS certificate...
Income Tax : Stakeholder-wise and thematic overview of Budget 2026 tax reform proposals covering farmers, MSMEs, corporates, NRIs, exporters, a...
Income Tax : The C&AG’s audits ensure proper assessment, collection, and allocation of direct taxes, identifying evasion risks and improving ...
Income Tax : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...
Income Tax : The Chhattisgarh High Court held that TCS under Section 206C(1C) cannot be collected on compounding fees recovered from illegal mi...
Income Tax : The Chhattisgarh High Court ruled that TCS under Section 206C(1C) applies only to lease holders, licence holders, or persons grant...
Income Tax : The Supreme Court upheld that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled tha...
Income Tax : The High Court held that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled that com...
Income Tax : The Supreme Court declined to interfere with a High Court ruling that TCS under Section 206C(1C) does not apply to compounding fin...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Goods and Services Tax : The advisory explains that registrations will be automatically suspended if bank account details are not furnished within 30 days....
Income Tax : CBDT Circular 9/2025 offers partial relief for higher TDS/TCS on inoperative PANs, extending compliance deadlines for taxpayers wh...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
Learn about India’s TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, and more. Get details on rules and compliance.
Learn about the latest changes in TCS under Section 206C(1F) for luxury goods exceeding ₹10 lakh. Find the list of notified items and effective date.
CBDT Notification 36/2025 requires sellers to collect TCS on luxury goods like watches, art over ₹10 lakh from April 22, 2025. Learn how it affects buyers & sellers.
The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effective upon official publication.
Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various goods.
Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections for easy reference.
The Finance Act, 2025 has introduced several noteworthy changes to the Tax Deducted at Source (TDS) framework under the Income Tax Act, 1961, with the intent to ease compliance and reduce the administrative burden on businesses and tax professionals. Effective from April 1, 2025, these amendments are particularly significant and this article highlights the major TDS-related amendments and their implications.
The petitioner contends that the 1st respondent lacked jurisdiction to issue notice, as the 1st respondent is not the Assessing Officer. The petitioner objected on 28.03.2016, but the 2nd respondent directed compliance by 25.07.2016, threatening the imposition of penalty.
Updated TDS & TCS rates from April 1, 2025. Check applicable thresholds, deductions, and compliance requirements for various payments under the Income Tax Act.
CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and application process.
