Did you book a foreign holiday recently and have to shell out an extra 5% or 20% in tax collected at source (TCS)? There’s good news if you’re a salaried employee. Starting 1 October, salaried ...

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 ...

Union Budget 2025: Finance Minister Nirmala Sitharaman during Budget 2025 proposed to rationalise tax deduction at source ...

In a significant move to simplify tax compliance, Finance Minister Nirmala Sitharaman had announced key changes to TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) in the Union Budget ...

The government relies significantly on income tax as a revenue source. Moreover, it obligates taxpayers to fulfil their fiscal duties through timely payments. The process involves challans used for ...

CBDT has introduced Form 12BAA to enable employees to inform their employers about TDS and TCS from other income sources, aiding in reducing tax deductions from salaries and increasing take-home pay.

Budget 2025 introduces higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS), aiding small taxpayers and gig workers. TDS on dividend income's limit rises from Rs 5,000 ...

The new Income Tax Bill 2025, set to be tabled in Parliament on Thursday, marks a historic moment in India’s tax landscape, as it will replace the current year legislation introduced way back in 1961.

Salaried employees will be able to offset the TCS paid against the TDS deducted from salary. (FE Online) The budget has significantly improved diversification of investment options, simplifying ...

The aforesaid corrective actions / measures, once implemented, would foster a conducive environment for business growth, particularly benefiting the MSME sector, which is a critical driver of the ...