The notification requires payers to generate UINs and file quarterly details of declarations even where no tax is deducted. It enhances transparency and ensures better monitoring of tax ...

The new Form 121 merges earlier forms into a single declaration system for TDS exemption. It simplifies compliance while ...

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: ...

Banks deduct TDS when your interest income for a financial year crosses Rs 40,000. This interest income limit is Rs 50,000 for senior citizens under section 194A of the Income Tax Act. For tax ...

Proposed the simplification of submitting Form 15G/H to avoid excess TDS. As per the proposal, investors will be allowed to submit Form 15G/H directly to the depository and avoid TDs on dividend and ...

Two Budget proposals seek to reduce friction in TDS, but they target different pain points for retail investors and small taxpayers. The first change affects investors who regularly submit Form 15G or ...