Category: Income tax updates for FY 2025-26 (AY 2026-27)

List of TCS (tax collected at source) rates along with related transactions and budget proposals for the financial year 2025-26 (AY-2026-27) is provided in the table given below.- TCS Rate Chart for FY 2025-26 (AY 2026-27) Section Nature of transaction TCS rate applicable for FY 2025-26 206C(1) Sale of Alcoholic liquor for human consumption 1% […]

A comparison of tax under Old Tax Regime Vs New Tax Regime for FY 2025-26 (AY 2026-27) with equalisation factor is shown in image. Step-1, compute the value of your application exemptions and deductions which you can claim in old tax regime but need to forgo is choose new tax regime. Step-2 , compare the […]

The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman on 1st February 2025, focused on tax relief, economic growth, infrastructure development, and social welfare. Here are the major announcements and reforms: 1. Income Tax Reforms: Big Relief for the Middle Class 2. Tax Deduction at Source (TDS) and Tax Collected at Source (TCS) Reforms […]