India Tax Agency Issues Guides on Various Taxes

The Indian Central Board of Direct Taxes Sept. 18 issued guides on individual income tax exemptions and deductions, withholding tax deducted at source (TDS), and declaring foreign assets and income. Topics covered include: 1) individual income tax deductions and exemptions under the new tax regime (NTR), including the standard deduction of 75,000 Indian rupees (US$850) for salaried individuals, and the optional old tax regime; 2) the Q2, Q3, and Q4 deadlines of Oct. 31, 2025, Jan. 31, 2026, and May 31, 2026, for filing TDS returns, and the respective deadlines for issuing TDS certificates; 3) how to apply for TDS ...