There is a tax levied on the severance pay proposed to the laid-off employees, and certain options would be made for them to claim the income tax exemptions/relief. The below-mentioned options are available for those employees who are finding tax exemptions on severance payments under the income tax rules.

The TDS idea was introduced with the intention of collecting tax at the source of revenue itself. Tax filing is a time-consuming process that is subject to unavoidable mistakes. The TDS returns and statements must be accurate. However, the Income Tax Department has introduced a procedure for submitting revised TDS return "correction returns/statements" in order to correct any error in the original returns or statements.The mistakes can be informational, computational, or human errors. In this article we are going to talk about the types of mistakes in TDS Return and the corrections which can be done.

The taxpayer is an NRI and has the business of furnishing the services provides by the plant and machinery on hire for the mineral oils extraction.