194T – TDS on payment to partners from Partnership Firm Applicable from 01.04.2025 (FY 2025-26 onwards) Budget 2024 inserted a new provision in the Act stating that certain payments made to a partner by a firm shall be liable for TDS deduction in accordance with the provisions of Section 194T. Deductor – Partnership Firm / […]
Advance tax is a way of paying your income tax in installments throughout the year, rather than in a lump sum at the end of the financial year. This system is designed to help taxpayers manage their tax liability more effectively and ensure a steady flow of revenue to the government. Advance tax is a […]
W.e.f 1 July 2023, Finance Act 2023 has introduced certain changes to the Tax Collection at source (TCS) on Forex drawls/ remittances by Resident Individuals under LRS (Liberalised Remittance Scheme). Press Release Official Press Release – Link here Official Notifications Notification 20/2022 Finance Bill 2023 We request you to make note of the revised TCS […]