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Posted On | January 30, 2026

Income Tax Act, 2025: Complete Transformation of TDS & TCS Framework (With Section References)

Introduction The enactment of the Income Tax Act, 2025 represents a structural re-engineering of India’s withholding tax system, moving away from fragmented, section-based compliance to a centralised, digital-first, system-driven architecture. Unlike the Income-tax Act, 1961 — where TDS and TCS provisions were scattered across multiple independent sections — the 2025 Act introduces a consolidated statutory […]

Posted On | January 30, 2026

How to Register for GST in India – Step-by-Step Guide

1. Applicability of GST Registration GST registration is mandatory in the following cases: A. Turnover-Based Threshold An enterprise is required to register under GST if its aggregate annual turnover (PAN India basis) exceeds: B. Mandatory Registration Irrespective of Turnover GST registration is compulsory if the business is involved in any of the following activities, regardless […]

Posted On | January 22, 2026

Best Bank Cheque OCR API in 2026: Accurate, Fast & AI-Powered Cheque Processing

Best Bank Cheque OCR API in 2026 enables fast, accurate, AI-powered cheque processing for banks and financial institutions with automation.

Posted On | January 15, 2026

Best PAN Card OCR API in 2026 for Automated PAN Verification in India

Discover the best PAN Card OCR API in 2026 for automated PAN verification in India, delivering fast, accurate, and compliant KYC processing.

Posted On | January 13, 2026

A Simple Step-by-Step Guide to Filing TDS Returns Online

Filing TDS (Tax Deducted at Source) returns is an important responsibility for every deductor in India. Timely and correct filing helps you stay compliant with Income Tax rules and avoids penalties, late fees, and unnecessary notices. This quick guide walks you through the online TDS return filing process in a simple and practical way. What […]

Posted On | January 6, 2026

Best Invoice OCR API 2026: Enterprise-Grade Invoice Automation Explained

Best invoice OCR API 2026 for enterprise-grade invoice automation, enabling accurate data extraction, validation, and faster AP processing.

Posted On | January 5, 2026

Best Aadhaar OCR API in 2026: Complete Guide for Banks, NBFCs & FinTech in 2026

Guide to the best Aadhaar OCR API in 2026 for banks, NBFCs, and FinTechs to enable fast, accurate, and compliant Aadhaar data extraction.

Posted On | January 3, 2026

Bank Statement Analyzer API Explained: OCR, Parsing, Income Detection & Cash Flow Analysis in 2026

Bank Statement Analyzer API Explained for 2026, covering OCR, parsing, income detection, & cash flow analysis for smarter financial insights.

Posted On | December 29, 2025

TDS on Fixed Deposits – How Much is Deducted and Why ?

Understanding TDS on Fixed Deposits Tax Deducted at Source (TDS) on Fixed Deposits (FDs) is a mechanism under the Income Tax Act, 1961, designed to collect tax at the point where interest income is generated. Here is a detailed guide on how much is deducted and the reasons behind it. How much is deducted? The […]

Posted On | December 8, 2025

TDS on Dividends vs Capital Gains: Key Differences & Tax Implications

1. Introduction Dividend income and capital gains form an important part of a taxpayer’s investment portfolio. While both are taxable, their tax treatment and compliance requirements vary. Dividend income attracts TDS, whereas capital gains for resident investors generally do not. Knowing these differences helps avoid mismatches in AIS, unnecessary notices, or additional interest liabilities. This […]

Posted On | December 1, 2025

Taxability of Gratuity and Pension under Income Tax Act Gratuity Taxability – Section 10(10)

Gratuity Taxability – Section 10(10) Taxability of Gratuity and Pension under Income Tax Act Gratuity Taxability – Section 10(10) 🔹 For Government Employees: 🔹 For Non-Government Employees Gratuity is partially exempt under Section 10(10)(iii). The exemption is the least of the following: Salary includes basic salary and dearness allowance (if applicable). If gratuity exceeds the […]

Form 16 explained for salaried employees

Posted On | November 24, 2025

What is Form 16? Everything a Salaried Person Should Know

What is Form 16? Everything a Salaried Person Should Know If you are a salaried employee in India, Form 16 is one of the most important tax documents you will receive every year. It acts as proof that your employer has deducted tax from your salary and deposited it with the Income Tax Department. Whether […]

Posted On | November 17, 2025

What Is TAN and Why Is It Essential for TDS?

In the realm of Indian taxation, compliance is not just a responsibility—it’s a necessity. One of the key identifiers in the tax deduction ecosystem is the Tax Deduction and Collection Account Number (TAN). If you’re deducting tax at source, understanding TAN is non-negotiable. TAN is a 10-digit alphanumeric number issued by the Income Tax Department […]

Posted On | November 10, 2025

What is TDS? A Beginner’s Guide?

If you’ve ever received a salary, professional payment, or interest from a financial institution, you might have noticed that a certain amount gets deducted before the money reaches you. This deduction is called TDS — one of the most important concepts in India’s taxation system. In this beginner’s guide, we’ll break down what TDS means, […]

Posted On | November 3, 2025

How to File GST Returns Online – A Beginner’s Step-by-Step Guide

If you’ve just registered your business under GST, filing returns might sound intimidating. Between multiple forms, numbers, and due dates, it can feel like a maze — but it doesn’t have to be. The good news is that filing GST returns online is simple once you understand the basics. This guide breaks it down step-by-step […]

Posted On | October 14, 2025

TCS on Foreign Remittances Under LRS – Collector’s Point of View (FY 2025–26)

1. Introduction Under the Liberalised Remittance Scheme (LRS), resident individuals can remit up to USD 250,000 per financial year for purposes such as education, medical treatment, investments, travel, or gifts. As per Section 206C(1G) of the Income Tax Act, banks and authorized dealers are required to collect Tax Collected at Source (TCS) on such foreign […]

Posted On | October 9, 2025

What to Do If TDS is Deducted but Not Reflected in 26AS

Tax Deducted at Source (TDS) is a crucial compliance mechanism under the Income Tax Act, 1961, designed to ensure timely and efficient collection of taxes at the point of income generation. TDS is deducted by various entities such as employers, buyers of immovable property, banks paying interest, and those making payments for services like rent, […]

Posted On | September 30, 2025

Top 26AS Reconciliation Software – Automate & Comply

Accurate TDS compliance is crucial for businesses and tax consultants across India. Errors in reporting can lead to penalties, notices, and financial loss. 26AS Reconciliation Software simplifies the complex process of matching TDS credits reported in Form 26AS with books of accounts or ERP data. manual reconciliation is time-consuming, error-prone, and challenging, especially for organizations […]

Posted On | September 22, 2025

GST Registration Rejected? Common Reasons and Fixes

GST Registration Rejection Reasons and fixes to avoid errors and get approval smoothly. Expert tips to resolve GST registration issues.

Posted On | September 17, 2025

Best Tax Notice Management Software in India – Smart Compliance

Best Tax Notice Management Software in India by Smart Compliance helps businesses efficiently manage tax notices and stay compliant.

Posted On | September 16, 2025

TDS Due Dates and Penalties – You Should Know

Learn everything about TDS Due Dates and Penalties, including filing timelines and fines, to ensure compliance and avoid unnecessary charges.

Posted On | September 11, 2025

GST Income Tax TDS Notice Alert – How to Understand Penalties and Stay Compliant

Learn how to handle a GST Income Tax TDS Notice Alert, understand penalties, and stay compliant with tax regulations effectively.

Posted On | September 9, 2025

TDS on Interest Income: When and How is it Deducted?

TDS on Interest Income is deducted when interest crosses the threshold. Learn when & how it deducted to stay tax-compliant & avoid penalties.

Posted On | September 1, 2025

Managing Input Tax Credit Effectively Under GST – A Complete Guide

Input Tax Credit Management under GST made simple. Learn effective strategies to maximize ITC benefit & ensure GST compliance with this guide.

Posted On | August 18, 2025

A Step-by-Step Guide to Registering TAN on TRACES Portal

A complete guide to registering TAN on TRACES. Follow this step-by-step process to easily finish TAN registration online without hassle.

Posted On | August 12, 2025

How to Handle TDS in Case of Double Taxation Avoidance Agreements (DTAA)

Learn how to manage TDS in Double Taxation Avoidance Agreements effectively and ensure compliance with DTAA rules for smooth tax handling.

Posted On | August 4, 2025

Understanding TDS Defaults: Notices, Penalties & Resolution Process

Learn about TDS Defaults Notices, related penalties, and step-by-step resolution process to stay compliant with income tax regulations.

Posted On | July 29, 2025

How to Avoid Late Filing Fees and Interest on TDS Returns

Avoid Late Filing Fees & Interest on TDS Returns with smart tips to file timely & stay compliant with tax laws. Save money & avoid penalties.

Posted On | July 22, 2025

TDS ON NON-RESIDENT INDIANS: RATES, EXEMPTION AND COMPLIANCES

Understand TDS on Non-Resident Indians—applicable rates, exemptions, and key compliance rules for FY 2024-25 in simple terms.

Posted On | July 14, 2025

TDS on Winnings from Online Gaming (Section 194BA)

Section 194BA explains TDS on Winnings from online gaming. Learn how taxes apply to game earnings and compliance for platforms and players.

Posted On | July 7, 2025

GST Compliance Updates – What Businesses Need to Know from July 2025 Onwards

GST compliance updates for July 2025—learn what’s changing and how businesses can stay compliant with the latest regulatory shifts.

Posted On | June 30, 2025

E-invoicing Under GST: Who Must Comply & What You Should Do Now

E-invoicing under GST is mandatory for many businesses. Learn who must comply and the steps you should take now for smooth GST compliance.

Posted On | June 23, 2025

TDS on Professional Fees and Contract Payments: A Complete Guide

TDS on professional fees and contract payments—applicable rates, rules, and compliance essentials in this quick and complete guide.

Posted On | June 16, 2025

CBDT’s TDS Exemption for IFSC Units Explained

CBDT TDS Exemption for IFSC simplifies tax rules for financial units. Learn how this move benefits IFSC-based entities.

Posted On | June 9, 2025

How to Claim IncomeTax TDS Refund: Process and Timelines

Learn how to claim your Income Tax TDS Refund easily. Understand the complete refund process and timelines to avoid delays in filing.

Posted On | June 3, 2025

Navigating Form 15CA & 15CB: A Guide for Foreign Remittances

Form 15CA and 15CB are vital for foreign remittances from India. Learn how to file them correctly and avoid compliance issues.

Posted On | May 26, 2025

How to Apply for a TAN (Tax Deduction Account Number)-A Step by step Guide

Learn how to apply for a tax deduction account number with this easy, step-by-step guide. Quick online process explained clearly.

Posted On | May 19, 2025

Understanding Securities Transaction Tax (STT) in India

Learn what securities transaction tax is, how it works in India, and its impact on investors and traders in the Indian stock market.

Posted On | May 12, 2025

MSME Compliance and Tax Impact in India: Section 43B(h) and Company Law Updates Effective April 2025

With the evolving regulatory landscape, businesses working with Micro, Small, and Medium Enterprises (MSMEs) in India must pay close attention to new compliance norms. The Government of India, through the Finance Act 2023 and various CBDT notifications, has introduced significant changes effective from April 2024 and April 2025. These changes include stricter deduction rules under […]

Posted On | May 6, 2025

Form 26a (Non-Deduction Or Short Deduction) – Legal Provisions, Benefits & Procedure

There are instances where deductor fail to deduct or short-deduct the TDS on certain payments. Non-Deduction or short deducted results in the deductor being labelled as “Assessee in Default” under section 201(1) of the Income Tax Act, 1961. Deductor with “Assessee in Default” have to face the consequences such as interest payment on short deduction/Non-Deduction, […]

Posted On | May 3, 2025

TDS on Sale of Property: Step-by-Step Filing & Compliance Guide

When a buyer buys immovable property (i.e. a building or part of a building or any land other than agricultural land) costing more than Rs 50 lakhs, buyer has to deduct tax at source at 1% under section 194IA of the total sale amount when he pays the seller. i]. If the payment is made by […]

Posted On | April 28, 2025

Understanding Lower Deduction Certificates-TDS (Form 13)

Tax Deducted at Source (TDS) is a mechanism in India where tax is collected at the time of payment to ensure compliance and prevent tax evasion. However, in certain cases, taxpayers may be eligible for a lower or nil deduction of TDS, which is facilitated through Form 13. What is Form 13? Form 13 is […]

Posted On | April 25, 2025

FATCA & CRS in India: Purpose, Process, and Reporting Explained

Why Needs for FATCA and CRS arrived: The use of offshore financial accounts for tax evasion and avoidance is a pressing concern for governments all around the world. There is an international consensus that the domestic measures taken to address this problem must be supplemented by enhanced cooperation amongst governments including exchange of tax information on […]

Posted On | April 22, 2025

MSME Form 1 Compliance Tightened: New Disclosure Norms Every Company Should Know

In its constant endeavour to bring ease of doing business, the Ministry of Corporate Affairs (MCA) has been in the process of shifting all the e-forms from V2 version of MCA portal to V3 version of the Portal wherein all the forms are in the format of web-based forms. In this brief article, we shall […]

Posted On | April 19, 2025

TDS and TCS Compliances in Cooperative Banks

TDS (Tax Deducted at Source) is a mechanism where a certain percentage of tax is deducted from the income of an individual or entity at the time of payment, such as salary, interest, dividends, or contract payments.

Posted On | April 14, 2025

Reverse Charge Mechanism (RCM) in GST: Full Guide for 2025

In India’s evolving GST framework, the Reverse Charge Mechanism (RCM) ensures compliance, particularly in transactions involving unregistered suppliers, imports, or specific notified goods and services. Under RCM, the recipient of goods or services becomes liable to pay GST, not the supplier. This blog presents a complete guide to RCM, covering: What is Reverse Charge Mechanism (RCM)? RCM […]

Posted On | April 5, 2025

Understanding Small Finance Banks (SFBs) and Their Role in TDS Compliance

Small Finance Banks (SFBs) play a crucial role in financial inclusion by extending banking services to underserved and unbanked sections of society.

Posted On | March 31, 2025

Understanding & Reporting Guidelines of the SFT (Form 61A) & FATCA (Form 61B) of the Income Tax Act

Managing finances and staying compliant with the taxes can be tough in India, the Income Tax Act has various forms like Form 61, 61A, and 61B for reporting financial transactions as mandated by the Section 285BA. What is Form 61? Form 61 is for the people who don’t have a Permanent Account Number (PAN). If […]

Posted On | March 17, 2025

Understanding the TRACES TDS Default Corrections Mechanism

Tax Deducted at Source (TDS) is a crucial aspect of the Indian tax system, ensuring that taxes are collected at the source of income. However, errors and defaults can occur during the filing of TDS statements. To address these issues, the Centralised Processing Cell (TDS) has introduced the TRACES (TDS Reconciliation Analysis and Correction Enabling […]

Posted On | March 8, 2025

Understanding TDS on Salaries: A Guide for Employers and Employees

Tax Deducted at Source (TDS) is a mechanism introduced by the Government of India to facilitate the collection of taxes at the source of income.

Posted On | March 1, 2025

Common Mistakes In TDS Compliance And How To Avoid Them

To ensure smooth TDS compliance, businesses should use automated TDS compliance software, set up internal audit mechanisms, and keep updated with the latest tax laws.

Posted On | February 22, 2025

Simplifying GST Reconciliation for Banks: Best Practices & Challenges

In today’s complex financial ecosystem, banks are increasingly grappling with the intricacies of Goods and Services Tax (GST) compliance.

Posted On | February 8, 2025

TDS Compliances for Insurance Companies: A Comprehensive Overview

Tax Deducted at Source (TDS) is a crucial compliance requirement for insurance companies in India.

Posted On | February 1, 2025

Amendments Related to TDS/TCS Compliance- Finance Act 2025

This circular provides a detailed overview of amendments introduced in the Finance Act 2025 pertaining to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) compliance. These amendments aim to simplify tax compliance, reduce administrative burdens, and enhance ease of doing business. 1. Introduction of New Tax Regime Slabs The Finance Act 2025 […]

Posted On | February 1, 2025

Compliances of GST in Banking Sector

In our economy, the banking industry is crucial to revenue generation. Following the introduction of GST, the banking industry saw one of the most significant changes. The main objective of the GST was to avoid the double taxation on goods and services.

Posted On | January 25, 2025

TDS on Dividend: Ensuring Compliance with Tax Regulations

Dividends are a key way for companies to share profits with their shareholders. Under the Income Tax Act, 1961

Posted On | January 22, 2025

New Time Limit for Filing TCS/TDS Correction Statements Introduced

Effective from April 1, 2025, significant changes will be made to the filing of correction statements related to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS).

Posted On | January 22, 2025

26AS Reconciliation: Simplifying TDS/TCS Compliance

In today’s dynamic business environment, ensuring compliance with tax regulations is a critical priority for businesses of all sizes.

Posted On | January 3, 2025

Streamline Your Tax Notice Management with NoticeCPC

In today’s fast-paced compliance landscape, managing tax notices effectively is no longer optional—it’s essential! Missing a response can lead to serious repercussions

Posted On | January 3, 2025

Empowering Compliance with Section 43B(h): Streamline MSME Verification with Figment’s Udyam Registration API

The Micro, Small, and Medium Enterprises Development Act (MSMED Act), 2006, has long been a cornerstone of India’s growth, empowering the nation’s MSMEs.

Posted On | April 18, 2023

Team Figment wins big at the TIOL Awards

Figment was adjudged the ‘Best Tax Technology Service Provider’ at the prestigious TIOL platform and was recognized for its’ innovative tax solutions. Taxindiaonline.com (TIOL), established in May 2000, is one of India’s prominent online media platforms, providing business-critical information, analyses, expert viewpoints, editorials, and related news on developments in fiscal, foreign trade, and monetary policy domains.

Posted On | April 18, 2023

Figment celebrates 11 years of unmatched tax compliance services

“Alone, we can do so little; together, we can do so much.” Team Figment celebrated its’ 11th work anniversary with zeal and definitely this is just the beginning!

Posted On | March 14, 2023

Nomination For The Most Prestigious TIOL National Taxation Awards 2022

We are delighted and proud to announce that, the honourable jury has notified our nomination for the most prestigious

Posted On | March 14, 2023

Key Takeaways From The 47th GST Council Meeting

Key outcomes of the 47th GST Council meeting for TaxCPC – Unit of Figment Global Solutions page readers with its likely impact…

Posted On | March 14, 2023

Team Figment’s Participation at Fintech Festival India 2022

The current Physical FinTech festival will create an ecosystem unleashing the power and potential of FinTech in India.

Posted On | February 4, 2023

CBDT Issues Guidelines on TDS Applicability on Non-Salary Perquisites.

According to the latest guidelines, it is not necessary for the payer/deductor to check the taxability of the sum in the hands of the payee before deducting TDS …

Posted On | February 4, 2023

Digitalization of Manual Forms 15CA 15 CB

Digitalization of manual forms 15CA 15 CB duration 7th June 2021-15th August 2021 is Live now

Posted On | February 4, 2023

Announcing The Launch of Technology Empowered Solution For Section 194R Compliances

Announcing the launch of Technology Empowered Solution for Section 194R compliances ….

Posted On | February 4, 2023

Interview of Our CTO CA Sapan Jain with ENTERPRISE Magazine by Vidarbha Industries Association (VIA).

The interview of our CTO CA Sapan Jain got published in the July edition of the ‘ENTERPRISE’…

Blogs

Income Tax Act, 2025: Complete Transformation of TDS & TCS Framework (With Section References)

Previous Blogs

Income Tax Act, 2025: Complete Transformation of TDS & TCS Framework (With Section References)

How to Register for GST in India – Step-by-Step Guide

Best Bank Cheque OCR API in 2026: Accurate, Fast & AI-Powered Cheque Processing

Best PAN Card OCR API in 2026 for Automated PAN Verification in India

A Simple Step-by-Step Guide to Filing TDS Returns Online

Best Invoice OCR API 2026: Enterprise-Grade Invoice Automation Explained

Best Aadhaar OCR API in 2026: Complete Guide for Banks, NBFCs & FinTech in 2026

Bank Statement Analyzer API Explained: OCR, Parsing, Income Detection & Cash Flow Analysis in 2026

TDS on Fixed Deposits – How Much is Deducted and Why ?

TDS on Dividends vs Capital Gains: Key Differences & Tax Implications

Taxability of Gratuity and Pension under Income Tax Act Gratuity Taxability – Section 10(10)

What is Form 16? Everything a Salaried Person Should Know

What Is TAN and Why Is It Essential for TDS?

What is TDS? A Beginner’s Guide?

How to File GST Returns Online – A Beginner’s Step-by-Step Guide

TCS on Foreign Remittances Under LRS – Collector’s Point of View (FY 2025–26)

What to Do If TDS is Deducted but Not Reflected in 26AS

Top 26AS Reconciliation Software – Automate & Comply

GST Registration Rejected? Common Reasons and Fixes

Best Tax Notice Management Software in India – Smart Compliance

TDS Due Dates and Penalties – You Should Know

GST Income Tax TDS Notice Alert – How to Understand Penalties and Stay Compliant

TDS on Interest Income: When and How is it Deducted?

Managing Input Tax Credit Effectively Under GST – A Complete Guide

A Step-by-Step Guide to Registering TAN on TRACES Portal

How to Handle TDS in Case of Double Taxation Avoidance Agreements (DTAA)

Understanding TDS Defaults: Notices, Penalties & Resolution Process

How to Avoid Late Filing Fees and Interest on TDS Returns

TDS ON NON-RESIDENT INDIANS: RATES, EXEMPTION AND COMPLIANCES

TDS on Winnings from Online Gaming (Section 194BA)

GST Compliance Updates – What Businesses Need to Know from July 2025 Onwards

E-invoicing Under GST: Who Must Comply & What You Should Do Now

TDS on Professional Fees and Contract Payments: A Complete Guide

CBDT’s TDS Exemption for IFSC Units Explained

How to Claim IncomeTax TDS Refund: Process and Timelines

Navigating Form 15CA & 15CB: A Guide for Foreign Remittances

How to Apply for a TAN (Tax Deduction Account Number)-A Step by step Guide

Understanding Securities Transaction Tax (STT) in India

MSME Compliance and Tax Impact in India: Section 43B(h) and Company Law Updates Effective April 2025

Form 26a (Non-Deduction Or Short Deduction) – Legal Provisions, Benefits & Procedure

TDS on Sale of Property: Step-by-Step Filing & Compliance Guide

Understanding Lower Deduction Certificates-TDS (Form 13)

FATCA & CRS in India: Purpose, Process, and Reporting Explained

MSME Form 1 Compliance Tightened: New Disclosure Norms Every Company Should Know

TDS and TCS Compliances in Cooperative Banks

Reverse Charge Mechanism (RCM) in GST: Full Guide for 2025

Understanding Small Finance Banks (SFBs) and Their Role in TDS Compliance

Understanding & Reporting Guidelines of the SFT (Form 61A) & FATCA (Form 61B) of the Income Tax Act

Understanding the TRACES TDS Default Corrections Mechanism

Understanding TDS on Salaries: A Guide for Employers and Employees

Common Mistakes In TDS Compliance And How To Avoid Them

Simplifying GST Reconciliation for Banks: Best Practices & Challenges

TDS Compliances for Insurance Companies: A Comprehensive Overview

Amendments Related to TDS/TCS Compliance- Finance Act 2025

Compliances of GST in Banking Sector

TDS on Dividend: Ensuring Compliance with Tax Regulations

New Time Limit for Filing TCS/TDS Correction Statements Introduced

26AS Reconciliation: Simplifying TDS/TCS Compliance

Streamline Your Tax Notice Management with NoticeCPC

Empowering Compliance with Section 43B(h): Streamline MSME Verification with Figment’s Udyam Registration API

Team Figment wins big at the TIOL Awards

Figment celebrates 11 years of unmatched tax compliance services

Nomination For The Most Prestigious TIOL National Taxation Awards 2022

Key Takeaways From The 47th GST Council Meeting

Team Figment’s Participation at Fintech Festival India 2022

CBDT Issues Guidelines on TDS Applicability on Non-Salary Perquisites.

Digitalization of Manual Forms 15CA 15 CB

Announcing The Launch of Technology Empowered Solution For Section 194R Compliances

Interview of Our CTO CA Sapan Jain with ENTERPRISE Magazine by Vidarbha Industries Association (VIA).

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