Ideally, these forms should be submitted before the start of the financial year for which TDS is to be deducted or before the first income payment which is subject to TDS. (Image: Reuters) Question: ...

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. Form 15G for provident fund (PF) ...

Senior citizens can manage their Fixed Deposit interest income effectively. Banks deduct Tax Deducted at Source (TDS) on ...

When it comes to tax, the well-established rule is that no income can escape it, except in cases where your income is lower than the taxable threshold. In such circumstances, your income is exempt ...

A Provident fund is a government-managed retirement savings scheme for employees who can contribute a part of their pension fund every month. And, Form 15G is a declaration that can be filled out by ...

Form 15H is a self-declaration for non-deduction of taxes at source which can be submitted by an eligible person to the payor of specified incomes. Specified incomes includes income from provident ...

If you are meant to receive an interest income from a bank and your total annual income is likely to stay lower than the minimum threshold that qualifies for tax liability then you must intimate the ...

In the Finance Act, 2021, Section 194P was introduced. With this, a senior citizen can file the tax return themselves or would deduct tax on their behalf and deposit it to the Income Tax Department.

CBDT has introduced Form 12BAA to enable employees to inform their employers about TDS and TCS from other income sources, aiding in reducing tax deductions from salaries and increasing take-home pay.

At present, businesses upload such invoices on IRP on the current date, irrespective of the date of issue of such invoice. Income Tax Return Latest Update: Taxpayers, direct or indirect, need to know ...

A salaried person needs to submit a tax declaration form at the beginning of each financial year. The form primarily includes a list of your allowances or deductions that one may claim as an exemption ...