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, ...

Income Tax: The last date to file income tax return (ITR) of September 15 is drawing closer. This is the time to hurry through your return filing process but carefully. While filing your income tax ...

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 ...

Tax Deducted at Source (TDS) is a crucial component of our tax system. As per rules, entities or individuals making certain payments are mandated to deduct TDS before making the payment. Today, July ...

Income Tax laws mandate disclosing the sale of assets in India by NRIs in the ITR, even if the applicable taxes have been paid through TDS. (Image: Pixabay) When a young Mumbai-based couple bought an ...

New income tax laws grant companies extra time to deposit TDS, extending the deadline from 60 to 80 days after the original due date. Companies that fail to deposit the TDS by the return filing ...

The income tax department will deny TDS credit and flag your ITR if it detects discrepancies between the TDS information reported in your return and that provided by the deductor. Ensuring accurate ...

Did you ever face the situation where the bank or employer or others deducted the correct amount of TDS but somehow it failed ...

Tax Deducted at Source (TDS) is the tax deducted by the payer before they make certain payments. These include salaries, bank interest, or rent, to the payee. Sometimes, due to miscalculated ...