TDS / TCS Compliances Reminder for April & May 2025
7th April 2025 – Due date for TCS payment for collections during March 2025 30th April 2025 – Due date for TDS payment for deductions during March 2025 7th May… Read more »
CSI Download – Options through the Income Tax Portal
CSI file is provided by the Income Tax Department through its web portal for validating the Payment Challans reported in the quarterly TDS / TCS Return. CSI File is mandatory… Read more »
Scope of TCS widened for Luxury Goods
In the Budget of FY:24-25, the scope of including more luxury items beyond motor cars was announced with the option to notify additions from time to time at a future… Read more »
TDS / TCS Non-Compliance: Costs, Risks and Prevention
Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are essential components of India’s tax system to ensure better tax compliance and reduce the burden of lump-sum payments… Read more »
The New Form 12BAA for Employees
The Central Board of Direct Taxes (CBDT) has recently notified vide Notification No. 112/2024, dated October 15, 2024 introduction of a new Form 12BAA, to help salaried individuals inform their… Read more »
Section 80CCH – Tax Benefits for Agniveers under the Agnipath Scheme
The Finance Act, 2023 introduced Section 80CCH into the Income Tax Act, 1961, providing specific tax deductions and exemptions for individuals enrolled in the Agnipath Scheme. This provision offers fiscal… Read more »