TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income Tax Bill 2025 Clause 394 consolidates tax collection at source regime with rates from 1% to 20%</h1> The Income Tax Bill 2025's Clause 394 consolidates and restructures the tax collection at source (TCS) regime, replacing scattered provisions in Section 206C of the Income-tax Act 1961. The clause covers nine categories of transactions including alcoholic liquor, timber, scrap, minerals, motor vehicles, overseas remittances under LRS, tour packages, and business use of parking lots/toll plazas. TCS rates range from 1% to 20% depending on transaction type, with higher rates for non-educational overseas remittances. The provision maintains existing exemptions for manufacturers through declaration requirements and includes anti-overlap measures to prevent double taxation where TDS already applies.
TaxTMI 
TaxTMI 