Higher TDS/TCS for non-filers removed, easing withholding obligations and reducing verification and compliance burden for payors. The proposal omits provisions imposing higher rates of deduction and collection for non-filers of income-tax returns, responding to stakeholder concerns ... Summary
Higher TDS/TCS for non-filers removed, easing withholding obligations and reducing verification and compliance burden for payors.
The proposal omits provisions imposing higher rates of deduction and collection for non-filers of income-tax returns, responding to stakeholder concerns that payors face difficulty verifying filing status and bear increased compliance and capital blockage; the amendment is intended to simplify withholding obligations and reduce verification burdens, effective from the first day of April, 2025.
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TaxTMI 
TaxTMI 
