"tds"

The effectiveness of the new law will depend on how clearly the accompanying rules are drafted. Frequent amendments and inconsistent interpretations could bring complexity back

Income Tax Department has introduced Form 141, a consolidated TDS challan replacing four earlier forms for property, rent, professional services, and virtual digital asset transactions, simplifying filing, reporting, and compliance through the e-filing portal

Finance Minister proposes to enhance annual threshold for deduction of tax at source (TDS) on rent to Rs 6 lakh from the current limit of Rs 2.4 lakh

Asks SC to declare the TDS system manifestly arbitrary, irrational and against Articles 14 (right to equality), 19 (right to practice profession) and 21 (right to life and personal liberty) of the Constitution

The participants engaged in policy-oriented discussions on available best practices, sharing knowledge and expertise to explore innovative solutions in tax deduction, according to a statement.

New regime lowers tax rates, eliminates deductions

"Reducing TDS will help achieve the tax trail without creating the unintended cash-flow concerns," the IAMAI said in a statement.