TDS Payment FY 2026-27: New Section Codes
Introduction From FY i.e. TY 2026-27, the landscape of Tax Deducted at Source (TDS) compliance has undergone a major update with the introduction of new section codes. These codes are now mandatory for deductors to select while making TDS payments, ensuring precise categorization of transactions and improved reconciliation with returns. The change is aimed at […]
From 1961 to 2025: Understanding TDS Obligations During Transition
Introduction The transition from the Income-tax Act, 1961 to the Income-tax Act, 2025 marks a significant shift in how tax deduction at source (TDS) obligations are governed. For deductors, the key lies in understanding the timing of credit or payment, as this determines which Act applies. While the substantive provisions such as rates and thresholds […]