New TDS, TCS rules 2025: Key changes impacting income taxpayers starting April 1. All you need to know
One of the key changes is the increase in TCS on foreign remittances under the Liberalized Remittance Scheme (LRS), which has ...
Income Tax dept to crack down on TDS/TCS defaulters; targets 40,000 taxpayers
The income tax department is set to crack down on individuals and businesses that have failed to deduct and deposit TDS/TCS. Approximately 40,000 taxpayers from FY22-23 and FY23-24 are under scrutiny.
Indiatimes13d
Taxpayers take note! Crack down against 40,000 TDS/TCS defaulters planned by Income Tax department
The Income Tax Department is set to launch a nationwide action against nearly 40,000 taxpayers who have failed to deposit their TDS/TCS. A 16-point strategy has been devised, leveraging data ...
Business Today27d
New Income Tax Bill 2025 simplifies TDS, TCS; here's what has been proposed
Penalties for TDS/TCS defaults include being considered in default for failing to deduct or pay TDS/TCS, and incurring a 1% per month interest charge on unpaid TDS/TCS amounts. “All TDS-related ...
New Income Tax Bill 2025: Six aspects to take note - is it a zero-sum game?
It introduces a taxpayer's charter, merges TDS/TCS sections, and aligns terminology with international norms. Likely effective from April 1, 2026, it promises streamlined processes without major tax ...
BW Businessworld14d
Income Tax Dept To Crack Down On 40,000 TDS/TCS Defaulters
The Income Tax Department is set to initiate a nationwide crackdown on individuals and businesses that have failed to deduct ...