Revised TDS Rate Chart from 1st April 2025 The Union Budget 2025 has introduced significant changes in TDS (Tax Deducted at Source) rates and income tax slabs, bringing much-needed relief for taxpayers. Finance Minister Nirmala Sitharaman announced tax cuts for the middle class and proposed new TDS limits, particularly benefiting senior citizens. This blog provides … Read more
TDS Exemption Limit for Rent Increased to ₹6 Lakh TDS Exemption Limit for Rent Increased to ₹6 Lakh In a landmark announcement during the 2025-26 Budget, Finance Minister Nirmala Sitharaman revealed that the annual Tax Deducted at Source (TDS) exemption limit for rental income will be increased significantly—from ₹2.4 lakh to ₹6 lakh. This change, … Read more
26AS Entry in Tally and Perform TDS Reconciliation 26AS Entry in Tally and Perform TDS Reconciliation Accurate tax compliance is a vital part of accounting for any business. One essential document that plays a significant role in this process is Form 26AS. It’s a consolidated tax statement issued by the Income Tax Department that includes … Read more
Mastering TDS Reconciliation TDS (Tax Deducted at Source) reconciliation is a vital aspect of accounting, ensuring that all tax deductions are accurately recorded, reported, and matched with the corresponding payments. For accountants managing company accounts, mastering this process is essential for maintaining compliance with tax laws and avoiding penalties. In this detailed guide, we’ll walk … Read more
Understanding Section 194N Understanding Section 194N Section 194N of the Income Tax Act, introduced in the Union Budget 2019, aims to promote digital transactions and curb cash usage in large volumes. This section mandates the deduction of Tax Deducted at Source (TDS) on cash withdrawals above specified limits. In this blog, we delve into the … Read more
