TDS Rate Chart For Financial Year 25-26 Assessment Year-26-27 Sec Nature of Payment Deductor Deductee TDS Rate Threshold Limit Remarks 192 Salary Employer Employee Slab Rate As per income slab Based on tax regime chosen by employee 192A Premature EPF Withdrawal Any Person Employee 10% ₹50,000 No TDS if service ≥ 5 years 193 Interest … Read more
Missed TDS on Rent Missed TDS on Rent Many salaried individuals claim House Rent Allowance (HRA) as part of their income tax-saving strategies. While this is a legitimate benefit, some taxpayers overlook an important requirement: deducting TDS on rent payments. Recently, the Income Tax Department has begun issuing notices to individuals who claimed HRA but … Read more
TDS on Rent Under Section 194-IB and HRA Claims The Income Tax Department has recently raised concerns about taxpayers claiming House Rent Allowance (HRA) without deducting Tax Deducted at Source (TDS) on rental payments exceeding ₹50,000 per month. Many taxpayers have received SMS and email alerts asking them to verify their HRA claims and correct … Read more
Changes in Tax Collected at Source Starting April 1, significant changes in Tax Collected at Source (TCS) rules for foreign remittances will take effect, impacting individuals who travel abroad, remit funds for education, or invest overseas. These changes aim to provide relief in certain categories while imposing stricter controls on high-value transactions. Let’s break down … Read more
TDS Rule Changes from April 1 2025 The Union Budget 2025 has introduced significant changes to Tax Deducted at Source (TDS) rules, aimed at reducing the tax burden and improving cash flow for senior citizens, investors, and commission earners. These amendments will take effect from April 1, 2025, and offer various exemptions and higher limits … Read more
