May 2026 income tax calendar: Important TDS, TCS deadlines and other due dates explained

Taxpayers, mark your calendars for May 2026! Crucial compliance deadlines loom, including TDS/TCS deposits for April and ...

Income-tax returns: Form 121 replaces Form 15G, 15H — who is eligible, where to download and how to avoid TDS, explained

The new Income-Tax Act 2025 replaced the original Tax Deducted at Source forms — Form 15G and 15H — with a single Form 121, ...

Revised post office transaction norms based on New Income-tax Rules, 2026: PAN mandatory for these transactions; more rules explained

The Department of Posts now mandates quoting Permanent Account Number (PAN) for specified transactions. Individuals without a ...

Post Office Rules 2026: Cash Deposits, Withdrawals And PAN Requirement Rules Explained

Under the revised framework, depositors will be required to quote PAN for multiple financial activities at post offices.

Gift tax rules explained: When cash, wedding gifts, jewellery and property become taxable?

Seema learned that gifts exceeding ₹50,000 are taxable, as she received a tax notice for unreported jewellery and cash. All ...
Emagazine.com

Solar Tax Credits and Incentives Explained

Unlock potential savings with solar tax credits for homeowners. Learn how these incentives can reduce costs and encourage sustainable energy choices today.
Tax Guru

Single-Member US LLC Tax in India: Disregarded Entity Status Explained

The issue concerns differing tax treatment of single-member US LLCs in India and the US. The position clarifies that India taxes global income regardless of US classification, requiring proper ...
The Tax Adviser

Assessment of tax for excess APTC payments is invalid

The Tax Court advised a taxpayer that filing a second petition would not allow another IRS Collection Due Process review.

You May Be Entitled to a Tax Refund From COVID. How to File a Claim by the Deadline

Tens of millions of Americans could be entitled to tax refunds from the IRS or an abatement of penalties accrued during the ...

Tens of millions of taxpayers may be owed IRS refunds from COVID-era

Tens of millions of taxpayers may qualify for IRS refunds or reduced penalties from the COVID emergency period, but face a ...
The Tax Adviser

Current developments in taxation of individuals: Part 2

This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance ...
Tax Guru

Miscellaneous Application Rejected as Tribunal Lacks Power to Review Its Own Order

The Tribunal held that challenges to appreciation of evidence amount to review, not rectification. It ruled that Section 254(2) permits only correction of apparent errors, leading to dismissal of the ...