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Budget 2025-26 could look at further simplification of TDS rates

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Budget 2025-26 could look at further simplification of TDS rates

The finance ministry could take forward further simplification and rationalisation of the tax deducted at source regime in the Union Budget 2025-26 while a more comprehensive revamp of the Income Tax Act, 1961, could take longer. According to sources, the Budget is likely to announce further streamlining of TDS rates with a more simplified slab … Read more

Non-FCRA listed NGOs may have to pay tax on foreign oxygen device gifts

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Non-FCRA listed NGOs may have to pay tax on foreign oxygen device gifts

Indian non-profit organisations and individuals getting oxygen concentrators as gifts from overseas may end up paying goods and services tax and customs duty on them even though the government has offered relief on the devices, which are in short supply during the ongoing second Covid-19 wave. The government has waived integrated GST and customs duty … Read more