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IT department is considering broadening the scope of data sharing across various institutions and decreasing the threshold for reporting financial transactions below Rs. 10 lakh.

More Institutions asked to Share Specified Financial Transactions below Rs.10 Lakh per annum with IT Dept

Section 206C(1F) of the Income Tax Act explicitly addresses TCS on the sale of motor vehicles. Buying luxurious goods will also attract TCS under Section 206C(1F) w.e.f. 01st January 2025.

Section 206C(1F): TCS on Luxury Goods and Cars

Budget 2024 proposes Income Tax Rates for Domestic and Foreign Companies.

Income Tax Rates for Domestic and Foreign Companies

Once an ITR has been completed by the tax department, tax refunds are issued within four to five weeks.

Not happy with your Income Tax Refund: File Rectification

TDS and TCS are two of the government's most significant sources of income and it is essential for businesses to make timely tax payments.

TDS/TCS Rates Changes Proposed in Budget 2024

The government has changed the long-term capital gains (LTCG) rules for unlisted shares owned by non-resident Indians.

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More Institutions asked to Share Specified Financial Transactions below Rs.10 Lakh per annum with IT Dept

Section 206C(1F): TCS on Luxury Goods and Cars

Income Tax Rates for Domestic and Foreign Companies

Not happy with your Income Tax Refund: File Rectification

TDS/TCS Rates Changes Proposed in Budget 2024

Changes to LTCG rules for NRIs; 25% hike in Tax Rate