As per the Finance Minister’s announcement made in the July 2024 Budget, a new tax collected at source (TCS) has been imposed on a specified list of luxury goods sold in India effective from April 22, ...

From April 1, 2026, the TDS/TCS regime will see a major overhaul under the new Income Tax Act, with renumbered sections and ...

The Union Budget 2026 may not offer big-ticket tax breaks like last year, but it introduces a series of targeted measures that will directly affect middle-class taxpayers. While some provisions offer ...

Predeposit for stay of demand lowered to 10% (from 20%). Finance Minister Nirmala Sitharaman used her Budget speech to overhaul how ordinary Indians file, disclose and pay taxes, unveiling new ...

The central government has finally rolled out the onerous tax collected at source (TCS) provisions on Thursday (September 14) which was kept in suspension since the introduction of GST in July 2017.

The Ministry of Finance has delayed the provisions related to TDS (Tax deducted at source) and TCS (Tax collected at source) for ecommerce players. The move is made in a bid to ensure the smooth ...

A post by investor Ashish Kumar Meher has triggered a wave of surprise, and relief, among car buyers after he explained that anyone purchasing a vehicle priced above ₹10 lakh is entitled to get back ...

The issue was whether TCS applies to compounding fees collected from illegal mining activities. The court held that Section 206C(1C) applies only where rights are transferred through lease or licence.

Did our AI summary help? If you’ve bought a car priced above Rs 10 lakh in recent years, you may remember the final bill being slightly higher than expected. The dealer would have added 1 percent ...