The TD1 form gives your employer the best estimate of your personal tax situation, so that they can deduct the right amount of income tax from your pay. If you don't give accurate information on the ...

The major changes made to this guide since the last edition are outlined. This guide reflects some income tax changes recently announced which, if enacted as proposed, would be effective July 1, 2025.

Filing Income Tax Return (ITR) by salaried taxpayers Form 16: It is a TDS certificate issued by an employer to an employee. It is proof that the employer deposited the tax with the tax authorities.

Form 26AS is an annual tax credit statement reflecting all taxes paid to the government against your PAN. It reflects TDS on salary, interest income, sale of property, advance tax payments, and ...

To be able to file income tax under the old tax regime, you must opt out of the default regime. It is required for the taxpayers to submit Form 10-IEA to opt out of the default regime.

As income tax return (ITR) filing season is going on, eligible social media influencers are also liable to pay their taxes. If they don't file their ITR, they may have to go through income tax (I-T) ...

Recent court holdings allowing the credit against the tax may encourage similarly situated taxpayers, but procedural hurdles ...

With over 1.8 lakh income tax returns (ITRs) filed over the last 6 days for AY 2025-26, these income tax assessees will now be keenly waiting for the Income Tax Department to process their tax ...

The bill extends portions of the Tax Cuts and Jobs Act, provides deductions to eliminate income taxes on certain tips and ...

The ITR or income tax filing is a crucial annual financial task that needs to be taken care of by many salaried and self-employed professionals. The income tax filing season for 2024-25 has started.

Form 16 is a statutory TDS certificate issued under Section 203 of the Income Tax Act, 1961. It outlines the total salary paid by the employer and tax deducted at source (TDS) during the financial ...

Inland Revenue announced it had extended the deadline for submission of 2024 tax returns until September 30. Initially the deadline was July 31. The new deadline was approved by the cabinet. The ...