The Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form sim...

In a recent statement, the Central Information Commission has called on the Income Tax Department to overhaul its system for taxpayers. It ...

A Mumbai taxpayer successfully challenged a Rs 1 crore tax demand at ITAT Mumbai after Form 26AS failed to reflect TDS credit. Despite payi...

Taxpayers cannot directly download Form 16 or 16A from the TRACES portal; only deductors like employers or banks are authorized to do so. W...

Tax Deducted at Source (TDS): Your tax liability will increase if the tax department disallows your TDS credit claim. Now a TDS credit clai...

If any tax has been deducted at source and deposited with the central government, it shall be treated as a payment of tax on behalf of the ...

Under the income tax laws, TDS is levied on various incomes such as salaries, fixed deposits, recurring deposits etc. The tax is deducted w...

Deductors of TDS/TCS like banks, mutual fund houses etc can now check if you have filed ITR when your income crosses the TDS limit from Jul...

There are several specific things which should be correctly reflected on the TDS certificate issued to you. Discrepancies can land you in a...

Check the status of previous years’ returns to avoid foregoing refunds because of pending demands.

Those who never received the intimations in the first place are bound to feel aggrieved about the new demand for arrears or adjustment agai...

The TDS should be deposited within a week of the end of the month in which the deduction is made.

There are incomes, such as salary, and interest from bonds and fixed deposits, on which tax is deducted by the payer of income.

According to senior taxmen, they reject an overwhelmingly large number of eligible cases every year for what they call the incidence of mis...

Every person whose total income exceeds the maximum amount which is not chargeable to income tax is required to obtain a Permanent Account ...

A new form introduced by the Central Board for Direct Taxes to improve tax deductions at source has allegedly made the process more cumbers...

Experts from E&Y explain provisions and what needs to be done to check and claim back excess deduction.