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Last chance to correct old TDS returns before 31st March 2026.
A significant compliance change is on the horizon. Under the upcoming Income-tax Act, 2025, the time limit for correcting TDS returns will be reduced to 2 years from the end of the relevant financial year, effective 1 April 2026. To facilitate this transition, taxpayers have a final opportunity until 31 March 2026 to correct errors…
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Recent Posts
- Last chance to correct old TDS returns before 31st March 2026.
- Only in Goa: ₹24 Lakhs Income… and Still Zero Tax? Here’s How.There’s a powerful tax advantage available only to Goan married couples — thanks to Section 5A of the Income-tax Act, 1961.Under Goa’s community of property system, income (other than salary) earned by a married person is automatically split 50:50 between spouses.Example:Husband earns ₹24 lakhs business income.Spouse is a homemaker.1. Income gets divided: ₹12 lakhs each.2. Tax computed separately in both hands.If structured correctly under the applicable tax regime, this can significantly reduce — and in certain cases eliminate — tax liability& due to separate slab benefits and rebate eligibility.In simple words:A homemaker in Goa can become the biggest tax planner in the family.A unique provision.#Goa #Section5A #IncomeTax #TaxPlanning #CharteredAccountant
- OCI card holder and participation in Indian business — a regulatory perspective…
- A forgotten foreign bank account can lead to a penalty of ₹10 lakh per year.
- Why Budget 2026 Replaced TAN with PAN for TDS on NRI Property Sales
