HRA is a component of salary provided by employers to employees to help cover rental expenses. Employees can claim HRA exemption under Section 10 (13A) of the Income Tax Act if they pay rent for ...

As per revised TDS rules, TDS exemption amount on FD interest has been increased to Rs 50,000 for individuals, and Rs ...

If excessive TDS is being deducted on your income, then filing Form-13 can be a good solution. What is Form-13? Form-13 is a special provision under the Income Tax Act, 1961, that allows taxpayers ...

Partnership firms face a new reality as they are now required to calculate TDS on payments to partners exceeding ₹20,000. This could lead to tax complications and cash flow issues for many small ...

Also Form 15E has also been enabled for filing by Indian residents who want to make payments to non-residents at a lower TDS rate. According to an alert flash on the TRACES portal of the tax ...

Ahmedabad: According to the new TDS-TCS correction rules, taxpayers can file correction statements for six years from the financial year in which the .

Income tax filers claiming House Rent Allowance (HRA) exemptions must ensure compliance with Tax Deducted at Source (TDS) ...

Interest on Non-Deduction/Deducted but Not Paid: Interest at 1% per month (or part thereof) on the amount of tax not deducted, and at 1.5% per month (or part thereof) on the amount of tax deducted but ...

As the 2024-25 financial year came to an end on Monday so did the window for filing returns. Chartered accountants said there ...

The tax department is sending notices to salaried taxpayers who claimed HRA but didn’t deduct TDS on rent above ₹50,000. With ...