Скачать или смотреть Budget 2025 | FM on Direct Taxes: Big announcement on TDS and TCS for small taxpayers

Finance Minister Nirmala Sitharaman in the Union Budget speech rationalised tax deduction at source (TDS) by reducing the number of rates and thresholds above which TDS is deducted. In the Budget, threshold amounts for better clarity and uniformity were increased with doubling the limit for tax deduction on interest for senior citizens from Rs 50,000 to Rs 1,00,000. The Budget also raised the annual limit for TDS on rent from Rs 2.40 lakh to Rs 6 lakh, benefiting small taxpayers receiving smaller payments.

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