CBDT Updates TDS/TCS Correction Timeline Under New Income Tax Act 2025; Sets 2-Year Deadline For Filing Return

As per Section 397(3)(f) of the Income Tax Act, 2025, deductors and collectors are allowed a period of two years from the end ...

Many property sellers have to pay 3.5 times more TDS and TCS due to issues with Income Tax TDS, TCS rules; Five such I-T rules need overhaul

In immovable property sale cases, NRIs may face both TDS and TCS depending on how the sale proceeds are handled.
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'Taxpayers paying twice...': Expert flags TDS credit anomalies under new Income Tax Act

He pointed in particular to TDS credit mismatches, overlapping TDS and TCS on NRI property transactions, and cumbersome filing procedures that have persisted despite legislative reforms. “Taxpayers ...
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TCS liability against mining officer was valid as compounding fees from Illegal Mining was treated as ‘Transfer of Rights’

Compounding fees collected from illegal mining, transportation, and storage of minerals constituted a ‘transfer of rights’ and consequently attracted  Tax Collection at Source (TCS) under Section 206C ...