# tcs
12 posts in `tcs` tag
TDS Simplified: Your Essential Rate Chart for FY 2025-26 (AY 2026-27)
This in-depth guide simplifies TDS (Tax Deducted at Source) for Financial Year 2025-26 (Assessment Year 2026-27). Discover how this crucial tax collection mechanism works, explore the latest changes from Union Budget 2025 including increased threshold limits, the introduction of Section 194T for partners' remuneration, and the removal of higher TDS for non-filers. We provide a detailed TDS rate chart and explain the implications of non-compliance, empowering both deductors and deductees for efficient tax planning and compliance
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By Krishna
File TDS/TCS for Free: Get the Newest Official Utility
This blog provides a comprehensive guide on how to download and utilize the latest free Return Preparation Utility (RPU) and File Validation Utility (FVU) offered by Protean eGov Technologies Limited (formerly NSDL e-Gov) for preparing and validating TDS/TCS returns in India. It covers the benefits of using these official tools, the download process, and step-by-step instructions for using both the RPU and FVU to ensure accurate and compliant return filing.
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By Krishna
India's New 1% TCS Rule: What Buyers & Sellers of Luxury Goods Over 10 Lakh Must Know
This post details India's new 1% Tax Collected at Source (TCS) regulation, effective April 22, 2025, under Section 206C(1F). It applies to specific luxury goods (watches, art, yachts, etc.) when the sale value exceeds ₹10 lakh. The article explains the TCS mechanism, lists affected items, clarifies calculation, outlines buyer and seller responsibilities, differentiates it from Section 206C(1H), and highlights that the TCS paid is adjustable against the buyer's income tax liability.
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By Krishna
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Big Tax Change: No TCS Collection Under Section 206C(1H) from April 2025
Significant updates in TCS regulations: From April 1, 2025, Section 206C(1H) will be repealed. A comprehensive guide outlining the effects on sellers and buyers, necessary compliance actions, and required system modifications for businesses.
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By Krishna
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Circular No. 5/2025: Comprehensive Guide on Interest Waiver for TDS/TCS Delays
Circular No. 5/2025 offers support by canceling interest on delays in TDS/TCS as per Sections 201(1A)(ii) and 206C(7) of the Income-tax Act. This blog outlines who is eligible, the steps to apply, and the ways taxpayers can gain from this relief.
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By Krishna
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Form 24G Explained: A Step-by-Step Guide for Government Tax Deductors and Collectors
Form 24G is critical for government deductors and collectors to make correct and timely TDS/TCS filings. This blog gives a full guide to Form 24G, including its relevance, due dates, penalties for non-compliance, and a step-by-step filing method. Stay compliant and avoid penalties with our thorough insights.
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By Krishna
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TDS & TCS Compliance Alert: What’s Changing from April 1, 2025?
The Union Budget 2025 makes substantial revisions to TDS and TCS laws, which will take effect on April 1, 2025. This blog gives a thorough discussion of the significant changes, their ramifications for various taxpayers, and practical ways to assure compliance. Stay informed and avoid fines with anything from reduced TDS rates to new crypto transaction restrictions.TDS revisions 2025, TCS regulations 2025, new tax rules 2025, TDS on cryptocurrency, TCS on international remittances, tax compliance 2025, ITR filing 2025, TDS on salary, and TDS for freelancers
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By Krishna
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CBDT Launches Self-Help Tool for Immediate Responses to Income Tax Bill 2025
To help taxpayers comprehend the proposed amendments in the Income Tax Bill 2025, the Central Board of Direct Taxes (CBDT) has introduced a cutting-edge Self-Help Tool. This online resource makes tax compliance simpler for both people and corporations by providing real-time updates, tax calculators, and streamlined legal explanations. Discover the main aspects of the Income Tax Bill 2025, as well as how to utilize this instrument and its advantages.
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By Krishna
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TCS on Sale of Goods Removed from April 1, 2025: A Big Relief for Businesses
With effect from April 1, 2025, the Indian government has stated that the Tax Collected at Source (TCS) on the sale of goods would no longer be applied. The goal of this action is to lessen the burden on sellers and streamline tax compliance. Discover the history, ramifications, and advantages of this important shift.
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By Krishna
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Tax Relief Alert: Sections 206AB & 206CCA Removed – Key Changes in TDS/TCS Rules
Higher TDS/TCS rates under Sections 206AB & 206CCA, which formerly punished non-filers of income tax returns, are eliminated by the Finance Bill 2025. This blog examines the ramifications of this move, the advantages it offers taxpayers, and how it makes compliance easier for both people and companies.
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By Krishna
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Budget 2025's TDS & TCS Big Relief: A Revolution for Taxpayers
Significant TDS & TCS reforms are introduced in the Union Budget 2025 with the goals of easing tax compliance, lowering financial burdens, and fostering economic expansion. Lower TDS rates, lower TCS on foreign transactions, and more exemptions for small taxpayers are some of the main attractions.
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By Krishna
CBDT's Relaxation of TDS/TCS Provisions
The Central Board of Direct Taxes (CBDT) has introduced a relaxation in Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) provisions for cases where the deductee or collectee has passed away before linking their Permanent Account Number (PAN) with Aadhaar. This relaxation provides relief to family members and heirs of deceased taxpayers who may be facing difficulties in obtaining the refund of excess TDS or TCS deducted or collected. In this blog, we will delve into the details of this relaxation and its implications on taxpayers.
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By Krishna