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, ...

Tax deducted at source (TDS) is the practice of reducing tax evasion and spillage by making it mandatory to deduct TDS from payments at pre-defined rates. Whether your employer pays you salary, or ...

Form 16/ 16A is the declaration of tax deduction at source provided by the employer on behalf of the employees. Form 16 is released yearly for the preceding fiscal year, generally before the end of ...

Form 16 makes it simple for salaried workers to document their Income Tax Return (ITR). It contains subtleties about your pay and tax deductions made by the business in the financial year. However, ...

The Form 16 is a crucial tax sheet that includes all the necessary details required for an employee to file their Income Tax Returns (ITR). Employers are required to provide Form 16 to their employees ...

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 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 ...

Tax Deducted at Source (TDS) is a crucial taxation mechanism that ensures that taxes are collected from the source of income. It acts as an advance tax that is deducted by the payer while making ...

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 ...

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 ...