Articles

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.

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

News

ITR-6 is form for companies (except those claiming exemption under section 11) to report income and pay taxes under the Income Tax Act.

ITR Filing form for companies, ITR-6 notified by Income Tax

The Income Tax Department aims to resolve over 2 lakh disputes worth Rs. 10 lakh crore at the first appeal level in FY26 to boost collections and ease the taxpayer burden.

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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

ITR Filing form for companies, ITR-6 notified by Income Tax

I-T Department Plans to Resolve More Than 2 Lakh Disputes Involving Rs. 10 Lakh Crores at First Appeal Level in FY26