Note: Effective FY: 2025-26, as per the Union Budget, removal of Higher TDS/TCS Rates for Non-Filers [Section: 206AB & 206CCA]. The government of India has been implementing measures to curb… Read more »
TRACES over email Ref. No. – 02/2023, dated 16/01/2023, has explained to deductors about the e-verification Scheme. The content & the communication is as under: Income Tax Department relies on… Read more »
The finance minister in her 2023 budget announced, that the intention of government is to maintain continuity as well as simplify taxation and reduce the burden of compliance for the… Read more »
The Central Board of Direct Taxes (CBDT) issued a circular No. 18 of 2022 dated 13th September 2022, to eliminate issues in Section 194R of the Income Tax Act, 1956… Read more »
TDS RATE CHART FY: 2023-24 (AY: 2024-25) Section Nature of Payment Threshold Indv / HUF Others Rs. TDS Rate (%) 192 Salaries – Avg – 192A Premature withdrawal from EPF… Read more »
What is a tax credit? If tax has been deducted at the source (TDS) and the same deposited with the government, it would be treated as a tax paid on… Read more »
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