Wrong financial year in TDS challan can block tax credit. Here's how taxpayers can correct the error using old TRACES portal ...

As the financial year draws to a close, many salaried employees are preparing to receive their Form 16, a crucial document for filing Income Tax Returns (ITRs). Form 16, which details salary income, ...

A mismatch between Form 16 and Form 26AS can lead to lower TDS credit, tax demands and refund delays. Here's why taxpayers ...

One of the first documents that we are supposed to check when filing tax returns is the Form 26AS. This is automatically uploaded by the Income Tax department into your secured PAN access area in the ...

It’s that time of the year when taxpayers start downloading the Annual Information Statement (AIS) and Form 26AS to file their income tax returns (ITR). AIS is a detailed summary of a taxpayer's ...

Form 16, divided into Part A and Part B, is essential for salaried employees to prove tax deductions from their salary. Part ...

In case of mismatch between Form 16 and Form 26AS, request your employer to issue new Form 16, reflecting the correct details of TDS. However, TDS is only provisional tax. The final tax liability is ...

New Delhi: The Income Tax Department has introduced a new form called Form 141. It is a single, combined challan-cum-statement that replaces four older TDS forms. These include Form 26QB, 26QC, 26QD ...

Recently , Abhishek, a salaried person who was living in a rented house, was asked to pay a tax penalty of Rs 1 lakh by the income tax department. Even though this penalty was discretionary, it was ...

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. Tax deduction at source (TDS) or ...

One can reduce their taxes by furnishing these forms in their ITR filing. Also TDS can be claimed from the Income Tax department. From the looks of the new Forms it can be said that, claims under ...

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 ...