New Regime vs Old Regime – which is better?
In a nutshell and quite obvious, one should opt for the regime where the tax liability is lower. Determination of tax liability Following factors are involved to determine the tax… Read more »
Monthly Archives: March 2025
Section 194T: TDS on Payments by Partnership Firms to Partners
Budget 2024 introduced Section 194T, making certain payments from partnership firms (including LLPs) to partners liable for TDS. Previously, such payments were exempt from TDS, with deductions applicable only to… Read more »
Section 194O – TDS on Payments by E-Commerce Operators to Participants
Section 194O was introduced in the Union Budget 2020 and came into effect from 1st October 2020. It requires e-commerce operators to deduct TDS on the gross amount of sales… Read more »
TDS / TCS Compliance Reminder for March 2025
7th March 2025 – Due date for TDS / TCS payment for deductions / collections during February 2025 *Please ensure timely compliance to avoid interest and/or penalties Use TDSMAN Software to file seamless… Read more »
Section 194G – TDS on Commission on Sale of Lottery Tickets
Any income earned by a person in the form of commission, remuneration, or prize on lottery tickets (deductee) who has been selling lottery tickets (also stocking, distributing, and purchasing) is… Read more »
Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021
Note: Effective FY: 2025-26, as per the Union Budget TCS on Sale of Goods has been withdrawn [Section 206(1H)]. Section 194Q – TDS on Purchase of Goods limits the scope… Read more »