Budget 2025 has proposed higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS). The new ...

In a bid to rationalise tax collection and ease compliance, the budget has proposed an increase in the limits for tax deducted and tax collected at source (TDS and TCS), which is likely to benefit a ...

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

The rise in the Tax Collection at Source (TCS) exemption limit on foreign remittances from Rs 7 lakh to Rs 10 lakh will ...

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

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

Section 276BB of the Income-tax Act, 1961 provides for prosecution in case of failure to pay the tax collected at source to the credit of Central Government. Ans. Section 276BB of the Income-tax Act, ...

The Finance Bill 2025 introduces changes to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) to improve business ease and taxpayer compliance. The proposed changes include a reduction in ...

Finance Minister Nirmala Sitharaman has proposed to raise TCS exemption limit from Rs 7 lakh to Rs 10 lakh and exempt education remittances funded through loans, benefiting students, travellers, and ...

The increase in threshold from Rs 7 lakh to Rs 10 lakh for collecting TCS is expected to benefit the travel and foreign exchange sectors, providing a boost to outbound tourism, education and the ...

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

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