Summary The article provides a practical guide for Non-Resident Indians (NRIs) on Indian income tax compliance, emphasizing that living abroad does not ...
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Paying Rs 55,000 rent on time could not save salaried taxpayer from Rs 1 lakh penalty for missing TDS, know why
Recently , Abhishek, a salaried person who was living in a rented house, was asked to pay a tax penalty of Rs 1 lakh by the income tax department. Even though this penalty was discretionary, it was ...
Form 16 captures your salaried income but you must also cite bank interest, capital gains or freelance earnings ...
Did our AI summary help? Most salaried tenants assume that TDS deduction is the responsibility of employers alone. However, if you pay rent exceeding Rs 50,000 per month, even for a single month ...
If the employer does not allow HRA exemption due to the absence of a renewed agreement, the employee can still claim the ...
New Delhi: The Income Tax Department has introduced a new form called Form 141. It is a single, combined challan-cum-statement that replaces four older TDS forms. These include Form 26QB, 26QC, 26QD ...
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 ...
All taxpayers dread the arrival of a notice from the Income Tax department. One of the disquieting facts is that you can file ...
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. Tax deduction at source (TDS) or ...
May tax deadlines: As the new financial year gathers pace, May 2026 brings a series of key tax deadlines that taxpayers cannot afford to miss. Experts are urging individuals and businesses to stay ...
July 2026 tax deadlines guide, covering ITR filing, TDS deposits, TCS returns and key forms due on July 7, 15, 30 and 31, to ...
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Salaried employees beware! These 5 mistakes during ITR filing can trigger unexpected tax demands
With the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are now encountering self-assessment tax and interest liability ...
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