In a move aimed at simplifying the income tax return process, the Income Tax Department has announced the launch of Digital Form 16, an electronic version of the traditional Form 16. This initiative ...

The Income-tax Act, 2025 introduces Form 141 to replace Form 26QB from April 2026. The change aims to reduce reporting mistakes and simplify TDS compliance in property ...

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, ...

ITR filing FY 2024-25: Indian taxpayers often wonder if filing an Income Tax Return (ITR) is necessary when Tax Deducted at Source (TDS) has been deducted. Experts clarify that filing an ITR is indeed ...

Certain payments made by individuals attract tax deduction at source (TDS), but many are unaware of it. For instance, 2% TDS applies to rent exceeding ₹50,000 per month, 1% on property purchases above ...

Under Section 194IB of the Income Tax Act, 196, individuals and HUFs must deduct 2 percent TDS on rent if the monthly amount ...

– Simple form to replace ITR for those below taxable limit. – Refund form auto-filled from TDS data. – Part of new Income Tax Bill 2025. New Delhi: Salaried individuals often need to file an Income ...