• Registered Users :
  • 161975
  • Current Active Users :
  • 102859

News INCOME TAX

  • Aug 05, 2022
  • TDS on large loan waivers likely to go

    Soon, banks are likely to get relief from a new tax rule that effectively mandates them to deduct a 10% tax at source on the amount of debt waived by them through one-time-settlement (OTS) or some other schemes, especially involving large accounts.

    “The departments of revenue and financial services are in talks and a positive resolution of this issue is expected soon,” a senior finance ministry official told FE.