The new Act retains existing TDS rates and thresholds while reorganising provisions. It prioritises simplification and ...

Form 130 is essential for claiming TDS credit on salary, pension, and interest income. The ruling mandates issuance through TRACES for validity. This ensures transparency and proper tax credit ...

The TDS rate on rent paid was reduced to 2% from 5% with effect from 1 October 2024, a change that many tenants may have missed. It’s that time of the year when taxpayers start downloading the Annual ...

TDS and TCS returns may be furnished physically or electronically depending on status of the deductor. Any person or entity, while making specified payments to another person (third party), needs to ...

Challan is a form that is used to pay taxes to the government. The authorized banks receive the tax paid through a challan before it is deposited with the Income Tax department. Payments made with ...

Tenants paying more than Rs 50,000 in monthly rent must deduct TDS at 2% before March 31, 2026. This compliance is for the ...

One can reduce their taxes by furnishing these forms in their ITR filing. Also TDS can be claimed from the Income Tax department. From the looks of the new Forms it can be said that, claims under ...

Tax deducted at source (TDS) is the practice of reducing tax evasion and spillage by making it mandatory to deduct TDS from payments at pre-defined rates. Whether your employer pays you salary, or ...