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In a relief to small taxpayers, the finance minister has proposed to give them an option to file applications for obtaining lower or nil TDS certificates electronically. A taxpayer typically applies for a lower or nil TDS certificate when their actual tax liability for the year is lower than the standard TDS rate (or nil)…
Representative image (AI-generated) As the Union Budget approaches, India’s cryptocurrency sector is seeking clear rules for digital assets. It is also seeking for a rationalisation of the 1% TDS on crypto transactions to boost investor confidence and encourage onshore participation.In the Union Budget 2025, the finance minister left the existing tax framework for VDAs unchanged,…
The requirement to issue TDS and TCS certificates is increasingly seen as redundant. (AI image) India’s tax deduction at source (TDS) framework, originally designed as a mechanism to ensure steady revenue inflows and improve tax compliance, has over the years become a source of complexity, cash-flow stress and litigation for businesses. With the scope of…
NOIDA: Every winter, as toxic smog shrouds Delhi-NCR, air pollution dominates headlines and dinner-table conversations. Masks return, air purifiers hum and social media fills with outrage. But in Sector 7x, a cluster of 43 high-rise societies home to over one lakh residents, another crisis unfolds quietly, every day of the year. One that doesn’t cloud…
The property purchaser mistakenly applied the entire TDS under the father’s name, rather than splitting it proportionally between the father and his son. (AI image) Selling joint property? Be careful of the tax implications, TDS deductions, and how it needs to show up in your income tax returns. Each beneficiary has to keep an eye…
The court clarified that Assessing Officers must accept TDS documentation provided by taxpayers, rather than insisting on exact matches with Form 26AS figures. (AI image) Not getting an income tax refund due to TDS mismatch in Form 26AS? A new Allahabad High Court ruling may work in your favour. The Allahabad High Court has issued…
