Q1. Does TaxBuddy offer both self-filing and expert-assisted plans for ITR filing, or only expert-assisted options?

Yes, TaxBuddy offers both self-filing and expert-assisted plans. The self-filing plan is suitable for those confident in handling their own taxes, while the expert-assisted plan provides professional help for accurate and compliant filing.

Q2. Which is the best site to file ITR?

TaxBuddy is considered one of the best sites to file ITR due to its AI-powered interface and expert support. While the official portal is also an option, TaxBuddy provides a more user-friendly and guided experience.

Q3. Where to file an income tax return?

You can file your income tax return either on the Income Tax Department's portal (incometax.gov.in) or through platforms like TaxBuddy that simplify the process and offer expert guidance.

Q4. Can I revise my ITR multiple times after receiving a corrected Form 16?

Yes, you can revise your ITR multiple times within the permissible timeframe, typically up to December 31 of the assessment year or before the assessment is completed.

Q5. What if the corrected Form 16 shows a higher TDS than originally reported?

If your corrected Form 16 shows a higher TDS, you should file a revised return with the updated TDS details. This may increase your refund or reduce your tax payable.

Q6. Is e-verification mandatory for revised returns?

Yes, e-verification is mandatory for revised returns. You must e-verify your return within 30 days of filing for it to be considered valid by the Income Tax Department.

Q7. What if my employer issues another correction after I have already revised my ITR?

You can file another revised return to reflect the latest correction, as long as it is done within the allowed revision period.

Q8. Can I use TaxBuddy’s app to revise my ITR?

Yes, TaxBuddy’s mobile app supports revised return filing. It allows users to update discrepancies and e-verify the revised return with ease.

Q9. How long do I have to file a revised ITR after receiving a corrected Form 16?

You must file your revised ITR by December 31 of the assessment year or before your return is assessed, whichever is earlier.

Q10. What is the penalty for not filing a revised return after a Form 16 correction?

Failing to file a revised return after receiving a corrected Form 16 can lead to interest, penalties, or notices from the tax department. It may also affect your refund processing.

Q11. Can I still file a revised return after the ITR filing deadline has passed?

Yes, you can file an ITR-U (Updated Return) under Section 139(8A) after the deadline, but only under specified conditions and with applicable penalties.

Q12. How do I ensure my Form 16 is correct before filing or revising my ITR?

Cross-check Form 16 with your payslips, TDS statements, and Form 26AS to ensure accuracy in income, deductions, and TDS reported before filing or revising your return.

Revising ITR After Form 16 Correction

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