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Sec 206AB and 206CCA requires tax deduction at higher rate when deductee/collectee specified as a non-filer of ITR. To address this issue, it is proposed to omit these Sections.

Budget 2025: Removal of higher TDS/TCS for non-filers of ITR

Budget 2025: Removal of higher TDS/TCS for Non-filers of ITR

It is provided that section 206C(1H) of the Act will not apply, if the buyer is liable to deduct TDS under any other provision of this Act on the goods purchased from the seller and has deducted such amount.

Section 206C(1H): TCS on Sale of Goods abolished by Budget 2025

The Union Budget 2025-26 presented by the Finance Minister today in the parliament. This Budget brought major changes in Direct taxation.

Rebate Limit enhanced to Rs.60000 under New Tax Regime

Union Budget 2025: Rebate Limit enhanced to Rs.60000 under New Tax Regime

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As per Budget 2025 Memo, it has been clarified that No Rebate on Special Rate Income will be given.

No Rebate on Special Rate Income: Clarification made in Budget Memo

FM Nirmala Sitharaman present the Union Budget 2025-26 in the parliament today. New slab rates has been introduced under New Tax Regime.

New Slab Rates for Financial Year 2025-26 [AY 2026-27]

February 1, 2025, is the day when the whole of India sits in anticipation for Mrs. Nirmala Sitharaman, the 39th finance minister of India to present the Union Budget 2025.

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Budget 2025: Removal of higher TDS/TCS for Non-filers of ITR

Section 206C(1H): TCS on Sale of Goods abolished by Budget 2025

Union Budget 2025: Rebate Limit enhanced to Rs.60000 under New Tax Regime

No Rebate on Special Rate Income: Clarification made in Budget Memo

New Slab Rates for Financial Year 2025-26 [AY 2026-27]

A Prospective Outlook - Union Budget 2025!