New Delhi: The Income Tax Department has announced the deadline for filing TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) correction statements for the financial year 2024–25.

Taxpayers and businesses must comply with several important filing and reporting deadlines throughout May 2026, including TDS ...

The tax deductor should deposit the amount by the 7th day of the next month. (Image: Freepik) Tax deducted at source (TDS) is the income tax deducted from the payment made including salaries, ...

Form 121: A new combined form, now replaces Forms 15G and 15H. This simplifies the process for individuals and senior citizens to declare income below taxable limits. Eligible taxpayers can now use ...

Under the Income-tax Act, 2025, tenants renting from NRI landlords must deduct 30% TDS plus surcharge and cess, taking the effective rate to 31.2% in most cases ...

May 2026 brings crucial tax compliance dates, including May 7 for TDS/TCS deposit and declarations, and May 15 for issuing ...

Income Tax Department launches upgraded TRACES portal with new TDS forms and a single tax year, simplifying compliance and boosting transparency for taxpayers ...

Form 16/16A issue date FY 2022-2023 (AY 2023-24): Salaried taxpayers usually file their Income Tax Returns (ITRs) based on Form 16 received from their employers. Form 16/16A is the certificate of tax ...

Tax Deducted at Source (TDS) is a crucial taxation mechanism that ensures that taxes are collected from the source of income. It acts as an advance tax that is deducted by the payer while making ...

When it comes to tax, the well-established rule is that no income can escape it, except in cases where your income is lower than the taxable threshold. In such circumstances, your income is exempt ...