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Salaried employees beware! These 5 mistakes during ITR filing can trigger unexpected tax demandsWith the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are ...- 12 key income tax form changes every taxpayer should know: From Form 16 to Form 168A new Income-tax Act arrives on April 1, 2026. It brings fresh income tax forms and replaces many old ones. Taxpayers will use these new fo...
- Six big TDS & TCS changes for Tax Year 2026-27: From TDS on NRI property to TCS on overseas remittance for education, know all that has changedNew tax rules for Tax Year 2026-27 begin April 1, 2026. Key changes affect TDS on NRI property and TCS on overseas remittances for educatio...
- PAN-Aadhaar link deadline today: What will happen if your PAN becomes inoperative?PAN-Aadhaar link deadline: Linking your PAN and Aadhaar by December 31, 2025, is vital. Missing this deadline makes your PAN inoperative. T...
- Many property sellers have to pay 3.5 times more TDS and TCS due to issues with Income Tax TDS, TCS rules; Five such I-T rules need overhaulIncome Tax on property: There is a problem with the Income Tax law due to which in immovable property sale cases, Taxpayers especially NRIs...
- PAN-Aadhaar linking update: Relief from tax demand notice due to short TDS deduction for these taxpayersThe Income Tax Department is offering relief to taxpayers who received demand notices for short deduction or collection of TDS/TCS due to t...
- Investors, foreign travellers to get more cash in hand as Budget 2025 hikes TDS, TCS limitsBudget 2025 has proposed higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS). The new thresholds will aid ...
- Budget 2025: TDS, TCS rejig will offer relief to businessesThere are a variety of TDS provisions applicable with different rates and different thresholds. There are about 33 Sections in the Income- ...
- 60 TDS rules with 10 TDS rates make life difficult for taxpayers: Can Budget 2025 cut TDS rates to 3?Budget 2025: The Union Budget 2025 presents a crucial opportunity to streamline and simplify TDS and TCS rules, enhancing clarity, reducing...
- The tax tweaks that you need to be aware of if you're planning to study or travel abroadThe Indian government’s Budget 2024 proposed lowering Tax Deducted at Source (TDS) on salaries, helping individuals who have paid Tax Colle...
- Individuals get relief from income tax demand for short deduction of TDS due to inoperative PAN of deducteeTDS Notice: Individuals won't get income tax notice for failing to deduct a correct amount of TDS in cases where the deductee's PAN was in-...
- 9 common money transactions that you can still do with inoperative PAN cardYour PAN will become inoperative if it is not linked to Aadhaar by June 30, 2023. Though inoperative PAN will make it difficult for an indi...
- Did not file income tax return for FY 2020-21? You may be liable for higher TDS, TCS from Apr 1The law for higher TDS, TCS in case of not filing ITR was announced in Budget 2021 and amended in Budget 2022. If an individual does not fi...
- Missing ITR filing for even 1 year can lead to higher TDS: Budget 2022The higher TDS/TCS law was announced in Budget 2021 and became effective from July 1, 2021. Higher TDS and/or TCS is applicable to those in...
- Is higher TDS applicable to non-ITR filers submitting Form 15G,H?In order to discourage the practice of not filing an income tax return by a person in whose case a substantial amount of tax has been deduc...
- New TDS/TCS regime from July 1 - are you ready?The new provision coming into effect requires both sellers and buyers to undertake due diligence w.r.t. tax return filing status of the oth...
- Banks to check if you have filed ITR when income crosses TDS limit from July 1, levy 2X TDS if notThe objective of this newly inserted provision in the Income-tax Act, 1961 is to ensure that ITR filing compliance is fulfilled by the taxp...
- New TDS, TCS rates from May 14 on fixed deposits, dividends and other non-salaried paymentsThe government has lowered the TDS and TCS rates by 25% on non-salaried payments effective from May 14, 2020, till March 31, 2021. The deci...
- TDS, TCS cut: More funds for taxpayersThe finance minister also announced that the due date of all income tax (I-T) returns for assessment year 2020-21 will be extended to Novem...
- TDS, TCS rates cut to put cash in your hand but your tax liability remains sameA reduction in TDS, TCS rates does not mean reduction in the tax liability of the receivers of these payments/incomes.
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