Effective April 1, 2026, the statutory limit for correcting TDS/TCS returns is 2 years from the FY end. This new rule eliminates unlimited revisions, demanding timely compliance to avoid penalties and ...
Income Tax Return Revision after ITR Filing: What happens when you notice a wrong entry or any other discrepancies in your filed income tax return? How can you revise your ITR after receiving a notice ...
Revised ITR: The return should be revised within the prescribed time limit. It can be revised any time three months before the end of the assessment year or before the completion of the assessment, ...
The Income Tax department has now notified all seven forms for taxpayers — with most salaried individuals required to submit the details by July 31. Employers are also likely to share Form 16 in the ...
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Now no more prosecution for delayed payment of TCS if its paid by this date: Budget 2025
Budget 2025 has removed prosecution for taxpayers who failed to deposit Tax Collected at Source (TCS) despite collecting it. This is subject to the condition TCS is paid before filing the TCS return ...
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