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TDS REPORTING PENALTIES
What crypto investors need to know for tax season 2026India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New reporting requirements, including tran...- ITR filing 2026: 9 key checks every taxpayer must make for AY 2026–27India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sourc...
- Could you be missing a critical June 2026 tax deadline? Check these essential TDS, Form 16, STT and advance tax requirements before it's too lateJune 2026 income tax deadlines are closer than many taxpayers realize. Form 16 issuance, TDS deposits, advance tax payments and STT reconci...
- Govt flags ‘high-risk’ crypto system in note to Parliamentary panelIndia's virtual digital asset sector is now high risk. Intelligence reports reveal extensive illegal activities including drug trafficking ...
- How new online gaming rules will change your income tax and legal exposure depending on the kind of game you playAn online game is any game played on a phone, laptop, or digital device, operated through software using the internet or any form of electr...
- NRI but using resident savings account? Here’s what you must know about NRE, NRO, and FEMA rulesNRIs must update their Indian bank accounts to NRE or NRO status to comply with FEMA regulations. Failing to do so can result in significan...
- ITR filing 2026: Don’t miss these key income tax deadlines for FY 2025–26 (AY 2026-27)Navigating income tax deadlines for FY 2025-26 (AY 2026-27) is crucial to avoid penalties. The Income Tax Department has set specific due d...
- Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled itAn Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal,...
- Can your bank cut TDS on interest income? Income Tax Department clarifies Income-tax Act, 1925 ruleThe Income Tax Department has clarified eligible banks for TDS on interest under the new Income-tax Act, 2025, effective April 1, 2026. The...
- March 31, 2026 deadline for key Income Tax and GST compliances: Time to take action now to prevent penalties and late feesTaxpayers face a critical March 31, 2026 deadline for numerous income tax and GST filings. Missing these dates can lead to lost benefits an...
- Paying high rent? Don't forget to deduct TDS before March 31, 2026 or you may face penalties and interestTenants paying more than Rs 50,000 in monthly rent must deduct TDS at 2% before March 31, 2026. This compliance is for the financial year e...
- Paying Rs 55,000 rent on time could not save salaried taxpayer from Rs 1 lakh penalty for missing TDS, know whyAn individual faced a Rs 1 lakh penalty for not deducting TDS on monthly house rent of Rs 55,000. According to Section 194-IB, TDS at 2% mu...
- Claimed HRA but skipped TDS? Income Tax department comes knocking with noticesTaxpayers claiming HRA exemptions but failing to deposit TDS on rent are receiving Income Tax Department notices. Under Section 194-I, tena...
- Incorrect TDS reporting will result in penalties: CBDTThe CBDT issued a comprehensive circular outlining stringent penalties for employers failing to deduct TDS for the assessment year 2024-25....
- Salaried individual filing ITR? Advisable to wait till June 15ITR filing for salaried individuals: The last date to file income tax returns for salaried and other taxpayers (whose accounts are not requ...
- No penal interest on TDS for crypto investors who failed to file the TDS return by May 31, 2023: CBDTVirtual digital assets tax: Purchaser of virtual digital assets (VDA) like Bitcoin (BTC), Ethereum (ETH), Solana (Sol), Algorand (Algo), Sh...
- TDS on rent payment, property sale: Budget hikes penalty on delay in TDS certificate to Rs 500/dayA buyer of immovable property is required to deduct tax at the rate of 1% of the sale value and furnish the challan-cum-statement in Form N...
- Income tax department cautions TDS deductors against quarterly filing defaultCBDT issued an advertisement in leading national dailies that said: Attention tax deductors. The last date to file Tax Deducted at Source (...
- Get ready to file your ITR: Deadline for employers to provide Form 16 is May 31In case the employer has not provided the Form 16 to the employee by May 31 and delays it, there are penalties in place.
- Start collecting your TDS certificates now, deductors can't delay anymoreTaxpayers can start collecting their TDS certificates now as the last date for all deductors to finalise and issue these was over on May 31.
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