Taxpayers must correct TDS challans for Tax Year 2026-27 on the old TRACES portal. This is crucial if the challan was mistakenly filed under FY 2025-26. Failure to correct will prevent TDS credit for ...

July is an important month for income tax compliance, with key deadlines for ITR filing, TDS and TCS deposits, quarterly ...

In a significant move aimed at simplifying the income tax filing process for low-income individuals, the Indian government is proposing a major relief in the Income Tax Bill 2025. As per the proposal, ...

Tax Deducted at Source (TDS) is a way through which tax is collected in advance by deducting a certain amount from specified payments. The person making the payment deposits the deducted tax with the ...

Income-tax compliance calendar for May 2026 (As per ITA 1961 read with the IT Rules, 1962 for FY 25-26). The Income-tax Act, 2025 (ITA 2025) has been notified and made applicable with effect from 1 ...

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. TDS means tax deducted at source—which ...

Wrong financial year in TDS challan can block tax credit. Here's how taxpayers can correct the error using old TRACES portal during transition ...

Senior citizens and fixed deposit investors with no tax liability can avoid unnecessary TDS on interest income by submitting ...

The last date to file income tax returns for FY 2025-26 (AY 2026-27) is July 31, 2026. Many salaried taxpayers are already gearing up to submit their returns, hoping to finish the process early, ...