Tenants 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...

Budget 2026 significantly softens penalties for income tax defaults. The jail term for failing to file ITR with tax exceeding Rs 50 lakh is...

India's tax system is set for a major overhaul with the Income-tax Act, 2025. The Finance Bill, 2026, should consider decriminalizing minor...

Tax deducted at source (TDS): While it is important to deduct a correct amount of TDS in certain transactions, it is also important to chec...

Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.

If an individual is liable to deduct TDS before making certain specified payments then it must be done at once. Otherwise the consequences ...

A 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...

SMEs should comply with TDS provisions to reduce the unnecessary burden of interest, penalties, late fees and having the tax man knocking o...

The CBDT has said work should be done to bolster the figures as TDS is a "non-obtrusive but powerful instrument to prevent tax evasion as w...

Taxpayers can start collecting their TDS certificates now as the last date for all deductors to finalise and issue these was over on May 31.

Employers failing to pay the Government the TDS on salaries of their employees can be jailed for up to seven years, the CBDT has said.

The Revenue Department has extended the due date of filing TDS and TCS for 2012-13 and 2013-14 till March 31 in case of government deductor...

Failure to deposit timely and correct TDS or TCS will now attract a penalty ranging from Rs 200 to Rs one lakh by IT dept

Section 271H proposes to levy a penalty of Rs 10,000 to Rs 100,000 on failure to furnish, or for furnishing inaccurate information in TDS s...

The Supreme Court has dismissed the income tax department's appeal seeking to impose a penalty on Max India for failing to deduct TDS on pe...

Employers who are not collecting and depositing TDS from the salary of their employees will be fined soon.

Employers, who are not collecting and depositing tax deducted at source(TDS) from the salary of their employees, will have to pay heavy pen...