Tax Connect
madhuvridhi
Category: TDS
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Essential Compliance Deadlines for Businesses Jan-March 2026
The road to March 31st is paved with deadlines. To ensure your business stays in the fast lane without any regulatory roadblocks, we’ve mapped out the Compliance Essentials for Jan – March 2026. What’s inside: ✅ Key GST & Income Tax Milestones. ✅ Critical MCA Filing Extensions. ✅SEBI Regulation deadline ✅ Pro-tips for Year-End Financial…
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Omission of TCS on sale of specified goods
Reduction in compliance burden by omission of TCS on sale of specified goods
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TDS Increased threshold Limit
There are various provisions of Tax Deduction at Source (TDS), with different thresholds and multiple rates. To improve ease of doing business and better compliance by taxpayers, it is proposed to rationalize certain rates of TDS and to increase threshold limit for applicability of the TDS provisions.
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Changes in TDS Rates Budget 2024
There are various provisions of Tax Deduction at Source (TDS) with different thresholds and multiple rates between 0.1%, 1%, 2%, 5%, 10%, 20%, 30% and above. To improve ease of doing business and better compliance by taxpayers, the TDS rates are proposed to be reduced.
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Time limit to file correction statement in respect of TDS/ TCS statements – Budget 2024
Time limit to file correction statement in respect of TDS/ TCS statements – Budget 2024
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Penalty for failure to furnish statements – TDS / TCS – Budget2024
To ensure better compliance, it is proposed to amend sub-section (3) of section 271H to provide that no penalty shall be levied if the person proves that after paying TDS/ TCS along with fees and interest to the credit of the Central Government, he has filed the TDS/TCS statement before the expiry of period of…
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Amendment of provisions of TDS on sale of immovable property
2. Sub-section (1) of the said section provides that any person responsible for paying to a resident any sum by way of consideration for transfer of any immovable property shall, at the time of credit or payment of such sum to the resident, deduct an amount equal to one per cent. of such sum or…
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TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners
TDS section 194T may be inserted to bring payments such as salary, remuneration, commission, bonus and interest to any account (including capital account) of the partner of the firm under the purview of TDS for aggregate amounts more than Rs 20,000 in the financial year.
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Remember to Link PAN & Aadhar by 31st to avoid higher TDS Deduction
Deadline: Link PAN with Aadhaar by May 31, 2024, to avoid higher TDS
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Tax Calendar 2024
We have attempted to compile a compliance friendly due date calendar for all. We hope you find it helpful. All efforts are taken to ensure correctness of due dates, however the due dates are subject to change in law, notifications and applicability. Please stay updated with the latest developments. Download Tax Calendar 2024