Traces has recognised that the issue is a recurring issue, the TRACES portal (TDS Reconciliation Analysis and Correction Enabling System) has introduced a refund mechanism in respect of such ...

T he Income Tax Department has extended the deadline for the filing of tax returns. Taxpayers filing their income tax return ...

India Implements Comprehensive Tax Framework for Virtual Digital Assets : India has established a formal taxation framework for Virtual Digital Assets (VDAs) like cryptocurrencies and NFTs through the ...

Here are the key income tax deadlines which will end in June 2025 related to TDS certificate issuance, advance tax ...

ITR Filing: To make payment of tax hassle-free, the Income Tax Department has introduced ... “Gone are the days of long queues at banks, tedious form-filling, and the looming anxiety of last ...

Each year, employers and financial institutions have to give copies of tax documents — like T4 slips, which show income information from your job, or T5 slips, which show investment income ...

Steps for filing: Compute tax liability, reconcile income with Form 26AS/AIS/TIS, pay tax under Section 140B via Challan No. 280, and verify the return before submission. For updated returns filed ...

A TDS Challan is a crucial form used for depositing Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) with the government. It includes essential details such as the taxpayer's name, TAN ...

Challan is a form that is used to pay taxes to the government. The authorized banks receive the tax paid through a challan before it is deposited with the Income Tax department. Payments made with ...

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. India has about 80 million (8 ...