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Mar 06, 2025
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Major changes in TDS and TCS rules from April 1: Here’s all you need to know
The Centre in the Budget announced many important changes related to tax, especially to make TDS and TCS easy and simple. The purpose of these changes – which will be effective from April 1, 2025 – is to make tax compliance easier for common taxpayers and traders and eliminate unnecessary complexities.
These changes will ensure taxpayers do not face the hassles of tax deduction and collection like before on sending money abroad, making big purchases or business transactions. Let us know what special changes have been made in the budget this time.
New limits of TDS
When you earn interest from the bank, pay rent or make any big payment, TDS is deducted after a certain limit.
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