There are a variety of TDS provisions applicable with different rates and different thresholds. There are about 33 Sections ...

The threshold to collect TCS on remittances under RBI’s liberalised remittance scheme (LRS) is proposed to be raised from ₹7 ...

FM proposes to hike the TCS limit to Rs 10 lakh from Rs 7 lakh currently. The TCS is applicable to the outward foreign ...

The Budget removes TCS on remittances up to ₹10 lakh for foreign education when funded by loans, while retaining a 5% TCS for ...

Budget 2025-26 brings major tax relief, raising the tax-free income threshold and easing TDS and TCS norms. Key updates also ...

Budget 2025 introduces higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS), aiding small ...

Finance Minister Nirmala Sitharaman announces tax revisions to boost household consumption and ease tax compliance for small ...

The existing TCS was applied specifically to remittances exceeding Rs 7 Lakh under the LRS. Besides this, the government has ...

Manoj Purohit, Partner at BDO India’s Tax and Regulatory Services, commented that this change addresses a long-standing need ...

The higher disposable income resulting from lower tax incidence should ideally find its way into investing more towards ...

FM says tax deduction limit on interest for senior citizens doubled from Rs 50,000 to Rs 1 lakh. Annual Rs 2.40 lakh limit ...

Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD ...