Finance Bill 2026 Makes CBDT Circulars Binding on TDS and TCS Deductors
Finance Bill 2026 proposes statutory backing for CBDT circulars, making them binding on taxpayers responsible for TDS and TCS. Read implications for compliance and penalties.
Tag: TCS
Finance Bill 2026: TCS Rates Rationalised for Liquor, Scrap, LRS and Overseas Tours
Clause 73 of Finance Bill 2026 rationalises TCS rates under section 394 by introducing a largely uniform 2% rate and reducing high TCS on LRS remittances and overseas tours.
Finance Bill 2026: TDS and TCS Guidelines Made Binding
Clause 77 of Finance Bill 2026 amends section 400 to make TDS/TCS guidelines binding on tax authorities and persons liable to deduct or collect tax.