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 introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms.

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 ...

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, ...

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 ...

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 ...

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 ...

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 ...

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 ...