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 395 allows reduced tax collection rates based on income assessment</h1> The Income Tax Bill 2025's Clause 395(3) and (4) establishes a framework for tax collection at source (TCS) and certificate issuance, largely mirroring existing Section 206C of the Income-tax Act 1961. The provision allows buyers, licensees, or lessees to apply for lower TCS rates when their total income justifies reduced collection, subject to Assessing Officer satisfaction. It mandates collectors to issue certificates detailing tax amounts, rates, and prescribed particulars within specified timeframes. The framework aims to align tax collection with actual liability while ensuring transparency and accountability. Key features include electronic application processes, AO discretion based on income assessment, and mandatory certificate issuance for both TDS and TCS situations, maintaining continuity with current law while enabling administrative modernization.
TaxTMI 
