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, ...

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 ...

ITR: If you are a salaried individual, Form 16 is a crucial document for filing the income tax return (ITR). Employers are required to file their e-TDS return for the January–March quarter by 31 May.

ITR filing FY 2024-25: Indian taxpayers often wonder if filing an Income Tax Return (ITR) is necessary when Tax Deducted at Source (TDS) has been deducted. Experts clarify that filing an ITR is indeed ...

March 31, 2025 is the deadline for filing correction statements of tax deducted at source (TDS) returns for FY 2007-08 to Q3 of FY 2018-19. This deadline is important for those individual taxpayers ...

TDS and TCS are vital mechanisms under the Indian tax system for early tax collection. TDS involves payers deducting tax on payments like rent and salary, while TCS requires sellers to collect tax on ...

The income tax (I-T) department has enabled all utilities and notified all forms needed to file income tax returns online in April. Typically, this exercise is not completed right at the beginning of ...

New Delhi: When a person passes away, their income tax responsibilities don’t end with them. A legal heir or representative, often a spouse, child, or close relative can file the income tax return on ...