 "What is TDS")
TDS
What is TDS
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Latest Updates on TDS
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")
20% TDS on mutual fund repurchases removed: Key tax changes from Oct 1
Tax Deducted at Source (TDS) is a tax collection method where tax is deducted directly from the income source before it reaches the recipient
 "20% TDS on mutual fund repurchases removed: Key tax changes from Oct 1")
October 2024: From TDS to saving schemes, 13 changes that will impact you
From new Aadhaar card rules to updates in tax deductions, here's what you need to know about the key financial changes happening this month
 "October 2024: From TDS to saving schemes, 13 changes that will impact you")
Over 30,000 TCS workers affected by TDS errors; Tax dept sends notices
The problem is reportedly believed to have stemmed from a software error that resulted in TDS claims not being properly updated on the income-tax portal
 "Over 30,000 TCS workers affected by TDS errors; Tax dept sends notices")
Tax on EPF withdrawals: Know what rules say about deduction, exemption
To ensure accurate TDS deduction it is important to submit your PAN when applying for provident fund withdrawal
 "Tax on EPF withdrawals: Know what rules say about deduction, exemption")
Hindustan Unilever gets tax notice of Rs 962.75 cr over Rs 3k cr GSK deal
HUL has said that it has an 'indemnification right' to recover the demand raised by the Income Tax department
 "Hindustan Unilever gets tax notice of Rs 962.75 cr over Rs 3k cr GSK deal")
Union Budget 2024: How Key changes in TDS rates simplify life for taxpayers
Budget has proposed to provide a standard operating procedure for TDS defaults and simplify the compounding guidelines for defaults
 "Union Budget 2024: How Key changes in TDS rates simplify life for taxpayers")
Reduction in TDS for life insurance payouts draws mixed reactions
TDS will be reduced from current rate of 5% to 2% from October 1
 "Reduction in TDS for life insurance payouts draws mixed reactions")
Budget: TDS on income from G-sec unlikely to impact retail participation
In the Union Budget for the previous financial year 2023-24, it was announced that a 10 per cent TDS on interest payments would be applied to listed bonds (debentures) starting April 1, 2023
 "Budget: TDS on income from G-sec unlikely to impact retail participation")
Budget 2024: Higher payouts for life insurance from October 1; know more
Starting April 1, 2025, the TDS rate for commissions will drop from 5% to 2%
 "Budget 2024: Higher payouts for life insurance from October 1; know more")
Union Budget 2024 gives salaried individuals some relief on TDS, TCS
The Budget has proposed to cut the rate of TDS to 2% from 5% earlier for rents paid in excess of Rs 50,000 by an individual or an HUF, for a month or part thereof
 "Union Budget 2024 gives salaried individuals some relief on TDS, TCS")
Budget 2024 proposes lower TDS for insurance commission, bonus payment
'Rationalisation of TDS from 5% to 2% for payment of insurance commission to individual agents will ensure additional income in the hands of such individuals for payments made by the insurers'
Crypto industry body requests reduction in TDS to 0.01% in Budget
The crypto body has further asked for an increase in the threshold limit for TDS deduction under Section 194S of the Income Tax Act from Rs 10,000 to Rs 5,00,000
 "Crypto industry body requests reduction in TDS to 0.01% in Budget")
Wish to carry forward losses, get TDS refund? File nil Income-Tax Return
According to the Income-Tax (I-T) Act, it is not mandatory for individuals earning less than the basic exemption limit to file an ITR.
 "Wish to carry forward losses, get TDS refund? File nil Income-Tax Return")
How to claim TDS refunds, know eligibility: A guide to the process
Such refund is issued by the Income Tax department when tax deducted or advance taxes paid exceed actual tax liability
To avoid notice, align your tax return with TDS on freelance income
The income earned through moonlighting can be received as a salary, or as professional fees/business income
 "To avoid notice, align your tax return with TDS on freelance income")
