Effective April 1, 2026, the statutory limit for correcting TDS/TCS returns is 2 years from the FY end. This new rule eliminates unlimited revisions, demanding timely compliance to avoid penalties and ...

Taxpayers and deductors are advised to file correction statements promptly to ensure that tax credits are properly reflected ...

The Income Tax Department has set a crucial deadline for filing TDS and TCS correction statements. Taxpayers must ensure all ...

November brings with it several compliance deadlines, including those for TDS deposits, AY 2025-26 Income Tax Return (ITR) filing under Transfer Pricing regulations, and Form 27C submission ...

Individuals must pay advance tax in instalments if their total tax liability for the year surpasses Rs 10,000 after TDS/TCS ...

Importantly, if PAN-Aadhar linking is not done before the deadline ends, PAN will become inoperative from the very next day.

ICAI’s proposal for optional joint ITR for couples faces hurdles in policy, technology, and administration. Here’s why the government remains ...

Bengaluru, to rectify obvious errors. This move aims to expedite the correction of accounting mistakes, reduce administrative ...

ICAI proposes measures in Union Budget 2026-27 to mitigate litigation, reduce compliance burden & prevent tax avoidance. Key ...

In a note, the ICAI has outlined its recommendations into areas like reducing compliance burden, improving tax collections, mitigating litigation and rationalisation of the provisions of the income ...

The notification also allows the authorised Commissioner to delegate powers in writing to Additional or Joint Commissioners ...