New Delhi, April 20 -- Indian taxpayers have updated tax compliance framework as per the new Income-Tax Act 2025 and I-T Rules 2026, which came into effect on 1 April. The changes aim to expand digital reporting, make the tax administration more transparent for individuals and businesses, and streamline tax filing processes.

Notably, one part of the changes includes overhaul of the Tax Collected at Source (TCS) and Tax Deducted at Source (TDS) systems. The updates seek to avoid mismatches, ensure faster processing time, reduce manual errors, and save time, as per a I-T Department notice earlier in the month.

ICICI Bank in a notice said that it is revising charges for TCS in line with changes announced for remittances for education and m...