New TDS, TCS rules 2025: Key changes impacting income taxpayers starting April 1. All you need to know
One of the key changes is the increase in TCS on foreign remittances under the Liberalized Remittance Scheme (LRS), which has ...
Missed Filing ITR Over The Last Few Years? Income Tax Department Targets Non-Filers, Issues Notices Under Section 148A
The income tax department has listed such individuals with undisclosed income subject to income tax and accordingly, the ...
India Today on MSN7h
Skipped filing ITR? You may get a tax notice very soon
The tax authorities use a risk management strategy (RMS) to flag high-risk non-filers, said the department.  This system ...
TDS Filing Due Date: Pay Beforehand To Avoid Penalty As Deadline In Two Days
The TDS/TCS submission deadline is March 07, 2025. Late deposits can lead to penalties, interest, and prosecution. Corporates ...
Advance tax: Here's how to calculate and pay your final instalment for the fiscal year
Except for some senior citizens, advance tax must be paid by all assessees, including NRIs, if the tax payable is ₹10,000 or ...
Income Tax dept to crack down on TDS/TCS defaulters; targets 40,000 taxpayers
The income tax department is set to crack down on individuals and businesses that have failed to deduct and deposit TDS/TCS.
Taxpayers take note! Crack down against 40,000 TDS/TCS defaulters planned by Income Tax department
The Income Tax Department is set to launch a nationwide action against nearly 40,000 taxpayers who have failed to deposit ...
Didn’t file ITR in past? You may get tax notices from I-T department u/s 148A as it has identified high risk non-ITR filers
This type of income tax notice is coming soon to these identified persons relating to AY 2019-20, 2020- 21 and 2021-22; Know ...
India Today on MSN1d
Income Tax Department expands e-Pay tax service to 30 banks. Check latest list
India’s Income Tax Department offers the E-Pay Tax service on the e-Filing portal, enabling individuals, businesses, and entities in India to pay direct taxes like advance tax, self-assessment tax, ...
The Financial Express5d
Major changes in TDS and TCS rules from April 1: Here’s all you need to know
The Centre in the Budget announced many important changes related to tax, especially to make TDS and TCS easy and simple. The ...
Tax Guru4h
No addition u/s. 28(iv) for free of cost assets from sister concern as no benefit derived
ITAT Bangalore held that addition under section 28 (iv) of the Income Tax Act for receiving fixed assets from sister concern on free of cost basis unjustified as no benefit is derived from the same.