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What happens if you do not inform your tax regime choice to your employer?

Understanding the income tax laws applicable for the current financial year (FY 2025-26) is crucial for making an informed decision when choosing between the new and old tax regimes. Starting April 1, ...
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Forgot to declare your tax regime choice to employer? Here's what happens

If you're a salaried employee, your employer must have asked you to choose between the old and new tax regimes for the current financial year (2025-26) for TDS purposes. Selecting the right regime ...

Income tax: New TDS/TCS statement correction deadline; do it now to avoid tax notice later

Consequent to the above, correction statements for FY 2018-19 (Qtr. 4), FY 2019-20 to 2022-23 (Qtr. 1 to Qtr. 4) and FY 2023-24 (Qtr. 1 to Qtr. 3) shall be accepted only up-to 31st March 2026. The ...
The Business Standard

Source tax non-compliance costs govt nearly Tk1 lakh crore per annum: Study

This situation has created a dual problem – compliant businesses end up with effective tax rates that are double the official rate or higher, while a large segment of businesses remains entirely ...