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Deadline to claim pending TDS credit for FY 2007-08 till Q3 FY 2017-18 is March 31, 2025; do this now to file a TDS correction statement

March 31, 2025 is the deadline for filing correction statements of tax deducted at source (TDS) returns for FY 2007-08 to Q3 of FY 2018-19. This deadline is important for those individual taxpayers ...

Paying rent above Rs 50,000? Here's why you need to deduct TDS under Section 194-IB by March 31

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

TDS Default Order Time-Barred as Limitation Must Be Computed Quarter-Wise, Not Annually

The Bombay High Court ruled that limitation under Section 201(3) must be calculated based on the financial year in which each quarterly TDS statement is filed. The decision confirms that annual or ...

Income Tax Rules 2026: Govt renumbers key forms, Tax Audit now Form 26, PAN, TDS, ITR forms changed

One of the most significant changes is in Tax Audit reporting, where the earlier Forms 3CA and 3CB have now been replaced by Form 26. The new form reportedly contains 55 segment-wise clauses, ...

What legal heirs need to know about filing ITR after a taxpayer’s death

The legal heirs are responsible for filing the return of income from 1st April till the date of death of the deceased and ...
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Income tax rule for tenants: Paying ₹50,000+ rent? Missing this TDS rule can lead to ₹1 lakh penalty

Many people living in rented houses focus mainly on paying monthly rent on time, but very few are aware that income tax rules ...