News

Getting a notice under Section 142 of the Income Tax Act might be intimidating, but in many cases, it is merely part of the information-gathering process of the tax department.

Understanding Income Tax Section 142 Notices: A Taxpayer's Guide

Articles

The Income Tax Department has issued a new form for ITR filing for the assessment year 2025-26. ITR Form 1 and 4 have been issued for AY 2025-26

Updated ITR Form 2025: File Returns up to Rs. 50 Lakh Easily

The Finance (No. 2) Act, 2024 has made drastic changes to Section 206C(1F) of the Income-tax Act with respect to Tax Collection at Source (TCS) on sale of motor vehicles and some notified luxury items.

Understanding TCS on Sale of Luxury Goods and Motor Vehicles: Section 206C(1F)

Judgement

As per an Landmark ITAT ruling, Failure to file Form 10-IE within prescribed due date does not invalidate claim of New Tax Regime

Failure to file Form 10-IE within prescribed due date does not invalidate claim of New Tax Regime: ITAT

Notifications

Income Tax Department has notified ITR V and Indian ITR Acknowledgment Forms streamlining Return filing and verification process

Income Tax Notifies ITR V and Indian ITR Acknowledgment Forms

Compared to the past, discovering fake rent receipts is much easier in this digital era. Despite aligning the legal documents like the PAN card of the landlord with the claims of expense that were made, many other strategies can be employed by the Income Tax Department to identify a fake rent receipt.

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Understanding Income Tax Section 142 Notices: A Taxpayer's Guide

Updated ITR Form 2025: File Returns up to Rs. 50 Lakh Easily

Understanding TCS on Sale of Luxury Goods and Motor Vehicles: Section 206C(1F)

Failure to file Form 10-IE within prescribed due date does not invalidate claim of New Tax Regime: ITAT

Income Tax Notifies ITR V and Indian ITR Acknowledgment Forms

Fake HRA Claim can land you in trouble: Penalties Imposed by Income Tax Department