Many salaried individuals claim House Rent Allowance (HRA) to save tax, but not everyone follows the tax rules correctly. The Income Tax Department has started sending notices to those who claimed HRA ...

As of January 1, 2026, failure to link PAN with Aadhaar renders the PAN inoperative, preventing taxpayers from filing Income ...

The tax is being introduced through a new section 194S in the Income-tax Act, 1961 The exchange will have to deduct the tax when the same is an intermediary Tax deduction under 194Q of the Act would ...

Draft Income-Tax Rules 2026 aim for voluntary compliance but require crucial changes to prevent taxpayers from paying twice. Key issues include protecting deductees from deductor defaults, ...

Advertising payments on Google Ads attract 2% TDS under Section 194C of the Income Tax Act. Businesses must deposit the tax separately and can recover the amount as ad credits after submitting Form ...

The Central Information Commission has urged the Income Tax Department to create a taxpayer-friendly mechanism to address grievances, noting that taxpayers often struggle to resolve discrepancies in ...

Advance tax means paying your income tax in instalments during the financial year, instead of paying the entire amount while filing the income tax return. It becomes applicable when a taxpayer’s total ...

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. TDS means tax deducted at source—which ...