TDS filing services, Best tax consultant in Delhi, TDS rules for 2026, TDS rules and deadlines, TDS return filing, Business tax consultancy, Tax compliance services , Tax assessment handling, Tax audit support Accounting & Bookkeeping , Payroll Services
Transition of TDS/TCS Provisions from the Income Tax Act, 1961 to the Income Tax Act, 2025: The New Era of Withholding Tax Compliance Income-tax Act, 2025: A New Era for TDS/TCS Compliance and Withholding Tax Administration. The Income-tax Act, 2025 marks one of the most significant reforms in India’s withholding tax framework. While the tax rates …
TCS Return New Deadlines for Tax Year 2026-27 Under the Income-tax Act, 2025, quarterly TCS returns are to be filed using the new Form 143. The revised compliance framework provides additional time for filing, as TCS returns are now due on the last day of the month following the relevant quarter. Quarterly TCS Return Due …
A Paradigm Shift in Partner Taxation Earlier Positions of Professional and trading firms Treat partner payouts Historically, payments by partnership firms to partners, such as interest on capital, remuneration, commission, or salary, were outside the scope of TDS due to the principle of mutuality and the unique partner–firm relationship. This position has changed with the …
Overview on TDS on Purchase of TDS on Real Estate Transactions What is TDS on Property Purchases? TDS (Tax Deducted at Source) is a tax mechanism under Section 194-IA of the Income Tax Act, applicable when purchasing immovable property (excluding agricultural land). Applicable if the consideration value or stamp duty value (whichever is higher) is …
TDS TCS Rate Chart for FY 2024–25 and FY 2025–26 TDS Deduction (FY 2024–25) Interest on Deposits (194A): 10% Commission (194H): 5% Rent (194I): 10% (for land/building) 2% (for plant/machinery) Professional/Technical Fees (194J): 10% Job work, labor contract, advertisement, etc. (194C): 1% for Individual/HUF 2% for others Salary (192B): Slab rates applicable Purchase of Goods …
Tax Dept Sends Tax Notices for Non-Deduction of TDS on Rent >50,000 P.M. TDS Deduction Responsibility on Rent Income Tax Dept has issued notices to tenants paying INR 50,000/- or more in monthly rent who failed to deduct and deposit TDS before remitting payments to their landlords. Even salaried employees paying rent from their taxable …
Can Employees Be Made Liable If TDS Is Deducted But Not Paid by the Employer? Background & Legal Framework Section 199 of the Income Tax Act: TDS deducted by the employer and paid to the government is treated as tax paid on behalf of the employee. The CBDT is authorized to issue rules regarding TDS credit …
Finance Act (No. 2), stricter controls over Revised TDS return filings The Finance Act (No. 2) has introduced a time limit for filing TDS correction statements, marking a significant shift in compliance requirements. Time Restriction Introduced in Revised TDS return filings: Previously, there was no time limit for filing TDS correction statements, allowing endless revisions. Now, …
Can employees be made liable in case TDS is deducted but not paid by employer? Section 199 states that tax deducted at source deducted by the payer and paid to the government is treated as tax paid on behalf of the payee. CBDT is authorized to issue rules for crediting tax deducted at source to …
TDS Rates Chart for the financial year 2024-25 This is the TDS (Tax Deducted at Source) Rates Chart for the financial year 2024-25. Here’s a quick breakdown of the rates and thresholds for various sections: Section 192: Payment of Salary – Based on slab rates; Threshold is the basic exemption limit. Section 193: Interest on …