TDS & TCS Provision Under Income Tax Act, 2025
The Income Tax Act, 2025 represents a structural overhaul of the existing Income Tax Act, 1961, with the objective of simplifying tax provisions, improving compliance, and enhancing clarity. One of the key areas of reform is the rationalization and restructuring of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions. This document provides a comparative analysis of TDS and TCS provisions under both Acts, highlighting key changes in thresholds, rates, scope, and compliance requirements.