Interest on compensation awarded to individuals will no longer attract TDS. The change ensures accident victims receive full interest amounts without deduction.
Taxpayers will be able to apply online for lower or nil TDS certificates. The move simplifies compliance and reduces dependency on physical interface.
The law addressed the compliance burden faced by resident buyers purchasing property from non-resident sellers. It was held that resident individuals and HUFs need not obtain TAN for such transactions, simplifying TDS compliance from October 2026.
The issue involved repetitive filing of no-TDS declarations with multiple payers by investors. The amendment permits filing a single declaration with a depository, which will share it with payers, significantly reducing compliance burden.
The issue was confusion over whether manpower supply attracted contractor TDS or technical services TDS. The amendment clarifies it as work, ensuring lower and uniform TDS rates from April 2026.
The issue was denial of deduction to non-life insurers where TDS was not deducted or paid on time. The amendment allows such expenses to be claimed later once TDS compliance is completed.
Active Income vs Passive Income: Meaning, Tax Implications and Wealth Creation Strategy In personal finance and taxation, income is broadly classified into active income and passive income. Active income requires continuous personal effort and time, whereas passive income is earned with minimal ongoing involvement after an initial setup. Understanding this distinction is important for tax […]
This article traces the dispute over taxing intermediary services under GST. The key takeaway is how policy reform, not courts, resolved structural inequity.
The Bill introduces relief on post-supply discounts, export taxation, refunds and intermediary services. It also simplifies customs procedures and expands automation to reduce compliance friction.
Limited but impactful GST amendments streamline valuation, refunds, and dispute resolution. The key takeaway is reduced litigation and faster cash flow for exporters and manufacturers.
