Union Budget 2025: TDS less tedious; TCS boost for trip abroad

Budget 2025 introduces higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS), aiding small taxpayers and gig workers. TDS on dividend income’s limit rises from Rs 5,000 to Rs 10,000, and for gig workers from Rs 30,000 to Rs 50,000. Additionally, TCS on remittances under LRS increases from Rs 7 lakh to Rs 10 lakh.

​Budget 2025 introduces higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS), aiding small taxpayers and gig workers. TDS on dividend income’s limit rises from Rs 5,000 to Rs 10,000, and for gig workers from Rs 30,000 to Rs 50,000. Additionally, TCS on remittances under LRS increases from Rs 7 lakh to Rs 10 lakh.