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TDS
What is TDS
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Latest Updates on TDS
Over ₹50k on rent? Here's the TDS rule that could cost you big if ignored
Missing TDS on rent over ₹50k? It's a costly slip. 'A small deduction today avoids a big problem tomorrow,' says a tax expert.
 "Over ₹50k on rent? Here's the TDS rule that could cost you big if ignored")
Digital payments for ads or software? Here's where TDS may surprise you
'Your ad or software bill may be a tax event,' say chartered accountants.
 "Digital payments for ads or software? Here's where TDS may surprise you")
May 2025 tax filing & compliance deadlines: What's due, when, and by whom
From TDS/TCS filings to Form 61A/B submissions: know what's due, when, and who must act. Stay compliant to avoid penalties
 "May 2025 tax filing & compliance deadlines: What's due, when, and by whom")
EPFO eases PF transfer on job change, removes employer's approval
This revamped functionality also provides the bifurcation of taxable and non-taxable components of PF accumulations to facilitate accurate calculation of TDS on taxable PF interest
 "EPFO eases PF transfer on job change, removes employer's approval")
Paying rent above Rs 50,000? Deduct TDS or face income tax default notice
The tenant must deduct 5 per cent TDS on the rent amount and deposit it with the government using Form 26QC within 30 days from the end of the month in which the rent is paid
 "Paying rent above Rs 50,000? Deduct TDS or face income tax default notice")
Finance ministry notifies form ITR-B to report undisclosed income
Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income
 "Finance ministry notifies form ITR-B to report undisclosed income")
TDS to capital gains tax: What impact new tax Bill will have on NRIs
NRIs who earn Rs 15 lakh or more annually in India will be classified as residents for tax purposes
 "TDS to capital gains tax: What impact new tax Bill will have on NRIs")
Senior citizens: How the Rs 1 lakh TDS threshold affects your FD earnings
Rs 1 lakh TDS threshold for senior citizens on fixed deposit interest reduces procedural hassles but doesn't exempt them from tax liability. Senior citizens must ensure accurate reporting in returns.
 "Senior citizens: How the Rs 1 lakh TDS threshold affects your FD earnings")
Budget proposals to garner up to Rs 45,000 cr bank deposit: DFS Secy
TDS threshold for fixed deposit interest income earned by senior citizens will go up from Rs 50,000 to Rs 1 lakh from FY2025-26, Financial Services Secretary M Nagaraju said
 "Budget proposals to garner up to Rs 45,000 cr bank deposit: DFS Secy")
Income Tax dept not an adversarial entity, but participative: CBDT chief
CBDT chairman Ravi Agrawal said the tax administration is committed to 'fostering stability and simplifying business operations' in India
 "Income Tax dept not an adversarial entity, but participative: CBDT chief")
Budget 2025-26: Is the new Income-Tax Bill a step towards 'Nyaya'?
The reduction in TDS rates and rationalisation of TCS provisions are welcome steps
 "Budget 2025-26: Is the new Income-Tax Bill a step towards 'Nyaya'?")
Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh
Old tax system remains unchanged
 "Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh")
How will Budget 2025 impact senior citizens?
Budget 2025 introduces tax relief measures for senior citizens, enhancing savings potential
 "How will Budget 2025 impact senior citizens?")
US-India Tax Forum proposes simplifying TDS, customs tariff structure
To establish GIFT City as a global financial hub, the Forum has proposed tax exemptions on dividends and financial transactions
 "US-India Tax Forum proposes simplifying TDS, customs tariff structure")
SC dismisses PIL seeking scrapping of 'tax deducted at source' framework
A two-judge bench of the Supreme Court remarked that the petition was poorly drafted and unsuitable for consideration, advising the petitioner to move the PIL to the Delhi High Court
 "SC dismisses PIL seeking scrapping of 'tax deducted at source' framework")
These rule changes will impact how you file Income Tax returns in 2025
July 2024 steps will shape tax deductions and exemptions that can be claimed when filing an Income Tax Return (ITR) in July 2025
 "These rule changes will impact how you file Income Tax returns in 2025")
Citing constitutional violations, PIL in SC seeks abolition of TDS system
The PIL challenged the tax deducted at source or TDS framework under the Income Tax Act, which mandates the deduction of tax at the time of payment by the payer
 "Citing constitutional violations, PIL in SC seeks abolition of TDS system")
FinMin unlikely to introduce new Income-Tax Bill in Budget session
Review panel may submit report before FY26 Budget
 "FinMin unlikely to introduce new Income-Tax Bill in Budget session")
TDS applicable on salaries of nuns, priests in govt-aided schools: SC
A top court bench led by outgoing Chief Justice DY Chandrachud ruled that salaries paid from government grants are taxable
Industry bodies urge Finance Ministry to ease TDS rate structure
Proposal seeks to lessen compliance burden on taxpayers and avoid litigation
 "Industry bodies urge Finance Ministry to ease TDS rate structure")
