The Income Tax (I-T) Department has introduced Form No. 141, a new consolidated challan-cum-statement that replaces four existing TDS forms—Form 26QB, Form 26QC, Form 26QD and Form 26QE. Form 26QB – ...

The Income Tax Department has rolled out a new TRACES portal aimed at improving usability and speeding up processes. But how much difference will it actually make to your TDS filing experience?

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Tax deduction at source (TDS) or ...

a) Section 276B of The Income Tax Act provides that if a person fails to deposit TDS deducted, he shall be punishable with rigorous imprisonment for a term which shall not be less than three months ...

As the deadline to file income tax return on July 31 comes closer, tax payers are advised to file their returns on time so that they don’t have to pay any fine for the dues later on. And merely ...

The Income Tax Department has issued an advisory stating that correction statements for TDS and TCS can only be filed for Q4 of FY 2018-19 up to Q3 of FY 2023-24 until March 31, 2026. This means if ...

TDS or tax deducted at source is widely known in the case of salaried employees, as it becomes difficult for the Income tax authorities to collect tax from individuals separately, so they collect it ...

Taxpayers face strict TDS and transfer-pricing filing deadlines. Starting December 1, key financial regulations will undergo changes that impact taxpayers, pensioners, and everyday consumers. As the ...

Commuted pension received from certain notified pension funds, like LIC Pension Fund, will now be fully tax-free. (Representational Image: X) The new Income Tax Bill will replace many of the existing ...

Banks or financial institutions deduct TDS on fixed deposits when the interest earned exceeds certain thresholds. September 15, 2025, last date for submitting the Income Tax Returns (ITRs) for the ...