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

TDS and TCS returns may be furnished physically or electronically depending on status of the deductor. Any person or entity, while making specified payments to another person (third party), needs to ...

Taxes are required to be deducted at source on credit/payment of certain amounts at specified rates. The deductor is responsible to deduct TDS and deposit it into the government account, and also ...

As notices have been issued by the CPC (TDS) on the filing of the Quarterly TDS Statements, TDS has become a torment not only for the assessee but also for the tax professionals. We are attempting to ...

Tax Deducted at Source (TDS) under the Income Tax Act has undergone wide-ranging changes in the last decade. One of them was the introduction of rule - TDS on the sale of properties under Section ...

How do I deduct TDS and submit the same for a housing property bought from an NRI? Answer: As per the provisions of Section 195 of Income Tax Act, any person who pays any sum of money which is ...

The Income Tax Department has released a new brochure detailing Tax Deducted at Source (TDS) payment obligations for individual taxpayers, especially those arising on account of buying of property ...

Union Budget 2025: Finance Minister Nirmala Sitharaman during Budget 2025 proposed to rationalise tax deduction at source (TDS) by reducing the number of rates and thresholds above which TDS is ...

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 ...