Under income tax rules, when you buy a motor vehicle worth more than Rs 10 lakh, the seller is required to collect TCS at 1% ...

Car buyers purchasing vehicles above ₹10 lakh can reclaim 1% Tax Collected at Source (TCS) deposited by dealers. This amount, ...

Many car buyers in India are unaware they can claim a tax refund on Tax Collected at Source (TCS). Sellers deduct 1% TCS on ...

The TCS amount will, by default, appear in the 'Taxes Paid' part of your ITR for the relevant financial year. All you have to ...

A taxpayer becomes eligible for an income tax refund when the Income Tax Department determines that more tax was paid during the year than the actual tax liability. This usually happens when TDS or ...

CBDT Chairman Ravi Agrawal explained that the Income Tax Department is currently scrutinising cases where taxpayers may have ...

An individual whose total tax liability from non-salary income exceeds ₹10,000 after accounting for TDS and TCS must pay ...

PAN-Aadhaar linking deadline is December 31, 2025. PAN will become inoperative if not linked, affecting tax returns and refunds.

The delay is mainly due to high-value ITR filing, which the department is carefully scrutinizing to avoid any mishap. That ...

As per the latest update, the process could be completed by end of December. However, did you know the IT department is ...

Tax practitioners attribute the slump to a combination of delayed ITR form releases, tighter verification rules, and ...