New Delhi, April 14 (IANS) The Income Tax Department has introduced Form 141, a consolidated challan‑cum‑statement that replaces four separate TDS forms for different types of transactions.The new form merges Form 26QB, Form 26QC, Form 26QD and Form 26QE, which were earlier used for filing TDS on property purchases, TDS on rent, TDS on payments to contractors or professionals and TDS on transfer of virtual digital assets respectively.Under the revised rules, Form 141 must be used to report a…
Latest PAN News & Updates
Mumbai, March 29 (IANS) A series of major financial and regulatory changes will come into effect across India from April 1, marking the start of the new financial year and bringing significant impact on taxpayers, employees and daily commuters.Among the most notable developments is the rollout of the new Income Tax Act, 2025, which will replace the decades-old Income Tax Act 1961.The new law aims to simplify the tax framework by introducing clearer language and removing complex terminology.One k…
New Delhi, March 27 (IANS) India will see a slew of financial and regulatory changes with the beginning of the new fiscal year on April 1, 2026, affecting taxes, fuel, banking and rail travel.The Income Tax Act 2025 will replace the Income Tax Act 1961, simplifying terminology by using the word “Tax Year” instead of erstwhile confusing words ‘Assessment Year’ (AY) and ‘Previous Year’ (PY).Under the new tax regime individuals earning up to Rs 12 lakh annually will pay zero tax due to …
Gandhidham, Feb 17 (IANS) The Cyber Crime Police in East Kutch have uncovered an organised mule account network through which transactions exceeding Rs 182 crore were routed via 81 bank accounts allegedly used to facilitate cyber fraud across several states, officials said on Tuesday. Four individuals – Yash Bhatia, Siddharth Soni, Sahil Sharma, and Alpesh Luhar – have been arrested in connection with the case.Another accused is already lodged in the Himmatnagar jail in connection with ano…
New Delhi, Jan 1 (IANS) The new year 2026 has begun, and several new rules have come into effect from January 1 that are set to directly impact the finances of the common people.One of the most significant changes is the implementation of the 8th Pay Commission from January 1, 2026.The Union government had already approved the move earlier. The decision is expected to benefit around 50 lakh central government employees and nearly 69 lakh pensioners.With the new pay commission, salaries of govern…
Kolkata, Dec 28 (IANS) The West Bengal Police on Sunday warned people that fake government loan advertisements using Chief Minister Mamata Banerjee’s name and photographs are being circulated on social media. In a public advisory, the state police said anyone who falls for this trap could lose thousands of rupees. Using its official X handle, West Bengal Police identified this online scam and provided information on what to look out for to avoid falling into the trap, and what to do if they beco…
New Delhi, Dec 24 (IANS) The deadline to link Permanent Account Number (PAN) with Aadhaar is December 31, and failure to do so may result in the PAN becoming inactive after this date.Taxpayers who have not completed the linking process are advised to act promptly to avoid financial and compliance-related difficulties.According to a notification issued by the Income Tax Department on April 3, 2025, individuals who were allotted a PAN on or after October 1, 2024, are required to link their PAN wit…