The amendment in the Finance Bill 2025 provides some relief to taxpayers by offering them a second chance to comply with the ...

For remittances, the threshold for tax collection at source under the RBI's Liberalised Remittance Scheme (LRS) has been ...

Answer: Section 276BB of the Income-tax Act, 1961 has been amended to provide that prosecution shall not be instituted if the person has paid TCS to the credit of the Central Government at any time on ...

Section 276BB of the Act provides for prosecution in case of failure to pay the tax collected at source to the credit of Central Government. The provision of the said section states that if a person ...

Section 276BB of the Income-tax Act, 1961 provides for prosecution in case of failure to pay the tax collected at source to the credit of Central Government. Ans. Section 276BB of the Income-tax Act, ...

The threshold to collect tax at source on remittances under RBI’s liberalised remittance scheme (LRS) is proposed to be ...

The existing TCS was applied specifically to remittances exceeding Rs 7 Lakh under the LRS. Besides this, the government has ...

Union Budget 2025 revises TCS rates on foreign remittances, reducing the tax burden on students funding overseas education ...

Budget 2025 has proposed higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS). The new ...

Finance Minister Nirmala Sitharaman has given a big gift to the middle class people by making income up to Rs 12 lakh tax ...

The Budget removes TCS on remittances up to ₹10 lakh for foreign education when funded by loans, while retaining a 5% TCS for ...

With an aim to reform the personal income tax regime with a special focus on middle-class citizens, the Union Finance ...