Income Tax Department launches upgraded TRACES portal with new TDS forms and a single tax year, simplifying compliance and boosting transparency for taxpayers ...

Form 121: A new combined form, now replaces Forms 15G and 15H. This simplifies the process for individuals and senior citizens to declare income below taxable limits. Eligible taxpayers can now use ...

EPF TDS exemption moves to Form 121, allowing simpler filing process but with stricter data checks and verification norms ...

New Delhi: The Income Tax Department has announced the deadline for filing TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) correction statements for the financial year 2024–25.

Form 121 replaces Form 15H, which is filed by senior citizens, as well as Form 15G, which is filed by individuals below the age of 60. Here's a detailed explanation of the changes and key mistakes to ...

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 and 26QE, ...

TDS, TCS rates: India’s tax compliance framework is set for a structural overhaul in Tax Year 2026–27 (FY 2026–27), with sweeping changes to Tax Deducted at Source (TDS) and Tax Collected at Source ...

TDS shows up in two very different situations for most people in India. Every month a salaried employee sees a deduction ...