Dispelling rumours surrounding the new proposed income tax bill, which has been speculated to introduce sweeping changes, especially in areas like capital gains tax, sources confirmed that no tax rate has been altered in the new bill. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index […]
What is TDS on Fixed Deposit? How is it calculated? – CNBC TV18
The investment market has a variety of options you can choose to invest in. It’s the need, time horizon, risk tolerance, market conditions and financial goals of an individual that determine the avenue they invest in. One of the popular and attractive options is fixed deposits. It provides higher interest rates and is a secure […]
Received an SMS on TDS from Income Tax dept? Here’s what you need to know – CNBC TV18
Some salaried taxpayers across the nation may have received messages from the Income Tax Department regarding their total tax deducted at source (TDS). The message, sent as an SMS, includes details of TDS deducted by the employer for the quarter ending December 31 and the cumulative TDS for the financial year 2024-25. Index Fund Corner […]
Budget 2025: New TDS rules for lottery and horse race winnings | Explained – CNBC TV18
The Union Budget 2025 has changed the way Tax Deducted at Source (TDS) applies to winnings from lotteries and horse racing. Instead of an annual limit, TDS will now be deducted on each transaction exceeding ₹10,000. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund […]
How new TDS limit will benefit taxpayers and seniors – CNBC TV18
Finance Minister Nirmala Sitharaman’s Budget 2025 brings some important changes to the Tax Deducted at Source (TDS) rules. The government has proposed increased thresholds for TDS under various sections. These changes aim to reduce the compliance burden, especially for small taxpayers. Here’s an overview of the proposed revisions to TDS thresholds across different payers. TDS […]
Supreme Court refuses to hear PIL seeking quashing of Tax Deducted at Source – CNBC TV18
The Supreme Court on Friday (January 24) refused to hear a Public Interest Litigation seeking the quashing the existing Tax Deducted at Source Mechanism. The SC observed that had PIL been poorly drafted, and that the petitioner should consider moving a High Court. The PIL had been filed by advocate Ashwini Kumar Upadhyay. After the […]
Budget 2025: Personal tax reforms — what to expect for individual taxpayer – CNBC TV18
As India approaches Union Budget 2025, individual taxpayers are eagerly anticipating reforms that promise simplification, greater financial relief and enhanced transparency within the tax system. The focus is on simplifying the tax process, continuing the evolution of the new tax regime, increasing exemptions and easing compliance for taxpayers. The current tax structure under the simplified […]
What is Tax Deducted at Source? All you need to know about TDS – CNBC TV18
Tax Deducted at Source, known as TDS, is a part of the Income Tax deducted at the source by the payer. It applies to rent, salaries, commissions, and interest on fixed deposits, etc. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.80% Invest Now […]
What is TDS and why a PIL is asking for it to be axed – CNBC TV18
A Public Interest Litigation (PIL) has been filed in the Supreme Court seeking the quashing of the Tax Deducted at Source (TDS) system. The petition, filed by advocate Ashwini Kumar Upadhyay, argues that the TDS mechanism is arbitrary, irrational, and violates fundamental rights. The TDS system requires tax deductions at the point of income generation—such […]
Deadline for filing GSTR-7 is today: Here’s a checklist for eligible taxpayers – CNBC TV18
The Goods and Services Tax Network (GSTN) has issued a reminder for GST-registered taxpayers about the mandatory filing of GSTR-7 returns by December 10, 2024. This filing requirement applies to all taxpayers registered under GST who are liable to deduct Tax Deducted at Source (TDS) as per GST law. Index Fund Corner Sponsored Scheme Name […]