Form 16 helps salaried individuals file accurate ITRs by detailing income, TDS, exemptions, and deductions, ensuring smooth ...

Form 16 is like a report card from your employer about your salary. It doesn’t account for any financial activity outside that employer-employee relationship. Failing to report additional income or ...

The IRS has proposed a step it believes will streamline the process of applying for a private letter ruling (PLR). And it wants to know what you think about it. The IRS on June 16 announced that it ...

Salaried employees will soon receive their Form 16 for Assessment Year 2025–26, featuring a more detailed breakdown of salary components and newly integrated tax disclosures.

Filing Income Tax Return (ITR) by salaried taxpayers Form 16: It is a TDS certificate issued by an employer to an employee. It is proof that the employer deposited the tax with the tax authorities.

Three of the most important reports all taxpayers should know about are Form 16, the Annual Information Statement (AIS), and Form 26AS. What they are and how they assist you during tax season follows.

Elon Musk had advocated ending the $7,500 tax credit for buyers of Tesla and other automakers’ EVs. But with the end of that credit included in the the “big, beautiful bill,” he and the now ...

ITR Filing 2025: The income tax filing season 2025 has started, with the Excel Utilities for ITR-1 and ITR-4 already available for download on the e-filing portal. So far, a total of 1,23,075 ITRs ...

The Income Tax Department has started enabling online utility for filing income tax returns online. This means now eligible taxpayers can start filing their ITR through the e-filing online portal for ...

Generally, gifts are not subject to income tax. However, section 6039F requires U.S. persons to file a Form 3520 if gifts from a foreign donor exceed certain reporting thresholds in a tax year ...

Form 16 TDS Certificates ITR filing: Due to the income tax changes made in the FY 2024-25 (AY 2025-26), Form 16 will show certain changes this year. It will primarily show the following three changes ...

Employers are required to issue Form 16 to employees by 15 June. This important document contains the record of taxes deducted from your salary and deposited with the Income Tax Department.