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 ...

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 ...

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 and TCS are vital mechanisms under the Indian tax system for early tax collection. TDS involves payers deducting tax on payments like rent and salary, while TCS requires sellers to collect tax on ...

ITR filing FY 2024-25: Indian taxpayers often wonder if filing an Income Tax Return (ITR) is necessary when Tax Deducted at Source (TDS) has been deducted. Experts clarify that filing an ITR is indeed ...

The compliance cycle for January kicks off early. January 7, 2026, is the key deadline for depositing TDS and TCS deducted or ...

New Delhi: Salaried individuals often need to file an Income Tax Return (ITR) just to claim a refund of Tax Deducted at Source (TDS), even if their income is below the taxable limit. The government is ...

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 ...

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 ...

TDS is deducted by platforms and reported to the Income Tax Department Losses from gaming cannot be set off or carried forward Income from online real money gaming is taxed at a flat 30% rate Income ...

Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are two separate provisions under the Indian tax regime, both intended to facilitate early and efficient tax collection. Though applied ...