This blog post explains the upcoming changes in India's income tax law regarding TDS (Tax Deducted at Source) refunds. It highlights how the new provisions, part of the Income Tax Bill 2025, aim to make it easier for taxpayers, especially small ones, to claim their excess TDS even if they miss the original ITR filing deadline. The post outlines the benefits, such as no penalties for late filing (just for refunds) and potentially simpler forms, and informs readers about the expected effective date of April 1, 2026.

Discover Section 115BAC, an alternative tax regime introduced in India, offering lower tax rates with fewer deductions. This comprehensive guide covers its implications, filing process, pros, and cons, empowering taxpayers to make informed decisions.