Budget 2025 has removed prosecution for taxpayers who failed to deposit Tax Collected at Source (TCS) despite collecting it. This is subject to the condition TCS is paid before filing the TCS return ...

The government’s move to replace the six-decade-old income-tax rules, 1962 with a new framework from April 2026 is set to ...

India’s new Income-tax Act, 2025 will come into effect from April 1, 2026, introducing a ‘tax year’, revised ITR deadlines and extended return revision timelines. Key changes such as STT hike, TCS ...

As per the Finance Minister’s announcement made in the July 2024 Budget, a new tax collected at source (TCS) has been imposed on a specified list of luxury goods sold in India effective from April 22, ...