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

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

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

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

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

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 ...

Budget 2025 raises TDS and TCS thresholds, provides relief for senior citizens, and clarifies ULIP taxation, benefiting investors.

The FM emphasised that the new Income-Tax Bill will uphold the spirit of “Nyaya” (fairness). An immediate test lies in how ...

The threshold to collect tax at source on remittances under RBI’s liberalised remittance scheme (LRS) is proposed to be increased from ₹7 lakh to ₹10 lakh.

At present, companies distributing dividends are required to deduct Tax Deducted at Source (TDS) at a rate of 10% on ...

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

Finance Minister Nirmala Sitharaman on Friday proposed to double the limit for Tax Deduction at Source (TDS) on interest income for senior citizens to Rs 1 lakh, and also increase the threshold to Rs ...