Panchal & Shah Chartered Accountants

🚨 **TDS & TCS RATE CHART — TAX YEAR 2026-27 is HERE!**
*(Effective from 1st April, 2026 | Based on Income Tax Act, 2025)*

Stay ahead of compliance this financial year! Here's a quick recap of what's changed and what matters most 👇

✅ **Key TDS Sections (Domestic):**
• Insurance Commission (393(1)) — 2%/10% | Threshold ₹20,000
• Commission/Brokerage — 2% | ₹20,000
• Rent – Land/Building — **10%** | ₹50,000 p.m.
• Professional Services — **10%** | ₹50,000
• Purchase of Goods — **0.1%** | ₹50 Lakh
• E-Commerce Transactions — **0.1%** | ₹5 Lakh

🌍 **Key TDS Sections (Foreign Payments):**
• Income to Non-Residents (Sec 195) — **20% or DTAA rate**
• Interest on Foreign Currency Loan — 5%
• Income from Securities — 20%

🏦 **Key TCS Sections:**
• Motor Vehicle Sale — **1%**
• LRS Other Purposes — **20%** ⚠️
• Overseas Tour Package — 2%
• Alcoholic Liquor / Scrap / Education — 2%

⚠️ **Important Reminders:**
🔴 Higher rates apply if PAN is not available (Sec 206AA/206CC)
🔴 Rates & thresholds subject to CBDT Notifications
🔴 Always consult your CA before compliance decisions

💼 *Professional guidance saves you from penalties, interest & notices!*

📞 For expert TDS/TCS compliance support, reach us at:
**[email protected] | 8758677363**
📍 606/A, Sahitya Business Park, Nikol, Ahmedabad

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ICAI submits GST Audit Report Format for Turnover up to 10 Crore

ICAI submits GST Audit Report Format for Turnover up to 10 Crore We are pleased to enclose the GST Audit Report (Fo.... Click here to view the full Article

Return filing utility of ITR-1 is now available for AY 2018-19

Budget 2018 has introduced a deduction up to Rs 50,000 in respect of interest income from deposits held with banks, co-operative society and post office by senior citizens. No separate deduction will be available under section 80TTA for interest income from savings account for senior citizens.

Budget 2018 introduced a standard deduction of Rs. 40,000 for the salaried class. This additional deduction has been proposed in lieu of existing deductions of Rs. 15,000 for medical reimbursement and Rs. 19,200 for transport allowance.

W.e.f.1st April,2018, Long Term Capital Gain on transfer of equity shares and equity oriented mutual fund units in excess of Rs.1 Lakh shall be taxable @10%. The dividend on them will be taxable @10%.

Capital Gain Tax will not be levied on notional gain made upto 31st January, 2018.

It is mandatory to generate E-way Bill w.e.f.1st April, 2018 for Interstate movement of goods having consignment value more than Rs.50k.

GST@GoI on Twitter “ please refer Section 54 CGST Act, 2017, Circular No 17/17/2017-GST, Circular No 24/24/2017-GST andCircular No. 37/11/2018-GST. CBEC is observing Refund Fortnight from 15 to 29th March, 2018 across all field formations to deal exclusively with pending GST Refnd Claims”

GST@GoI on Twitter “ please do the needful.”

GST@GoI on Twitter “ Noted.”