What Happens During a TaxBuddy Call? From PAN to Planning

Q: What happens during a TaxBuddy call for ITR filing?

During a TaxBuddy call, the expert assesses your tax profile, including income sources like salary, business, or capital gains. They collect and verify documents, use AI to draft your ITR, explain deductions and exemptions, and assist in filing. Post-filing support is provided for refund tracking or issue resolution.

Q: What documents do I need to upload before my TaxBuddy call?

Before your TaxBuddy call, upload documents such as Form 16, bank statements, investment proofs, capital gains statements (for stocks or crypto), and other documents relevant for claiming deductions or exemptions, which the AI uses to auto-fill your ITR form.

Q: How does AI help during the TaxBuddy call?

AI assists by auto-filling your ITR form using data extracted from uploaded documents like Form 16 and investment proofs, as well as government databases like PAN, Aadhaar, and Form 26AS, ensuring accuracy and minimizing manual errors.

Q: Will TaxBuddy’s expert guide me on tax-saving opportunities during the call?

Yes, TaxBuddy experts guide you on tax-saving opportunities, identifying eligible deductions and exemptions under sections like 80C, 80D, 80G, and others, ensuring you maximize benefits under the Income Tax Act.

Q: How do I approve the draft ITR during the TaxBuddy call?

The expert walks you through the AI-drafted ITR, explaining all details. Once you’re satisfied, you approve the draft, and the expert finalizes and files the return electronically on your behalf.

Q: What happens if I have any doubts or questions during the TaxBuddy call?

If you have doubts or questions, the TaxBuddy expert addresses them, clarifying aspects like income reporting, deductions, or exemptions to ensure you fully understand your filing before proceeding.

Q: How does the e-filing and e-verification process work during the TaxBuddy call?

After ITR approval, the expert files your return via TaxBuddy’s integration with the Income Tax Department’s portal and assists with e-verification using Aadhaar OTP, net banking, or bank account-based verification.

Q: Can TaxBuddy handle complex tax scenarios during the call?

Yes, TaxBuddy experts handle complex tax scenarios like foreign income, capital gains, and crypto earnings, guiding you to report these accurately and ensuring compliance with Indian tax laws.

Q: How quickly will my ITR be filed after the TaxBuddy call?

After approving your ITR, TaxBuddy experts file it electronically within 24 to 48 hours, ensuring quick processing to meet tax deadlines comfortably.

Q: Does TaxBuddy offer post-filing support?

Yes, TaxBuddy provides post-filing support, including tracking refund status, resolving discrepancies, and assisting with revised returns if needed, ensuring continued support after filing.

PRITI SIRDESHMUKH
17 hours ago
8 min read

What Happens During a TaxBuddy Call? From PAN to Planning

Tax filing is a crucial part of financial responsibility, but it doesn’t have to be overwhelming. With the right tools and expert guidance, filing your Income Tax Return (ITR) can be a seamless process. TaxBuddy offers a detailed and personalized experience for individuals and businesses across India, guiding taxpayers from PAN details to filing the return. The entire process is designed for simplicity, leveraging AI and expert insights to ensure that your tax filing is accurate, compliant, and optimized for potential savings. Let us explore exactly what happens during a TaxBuddy call, breaking down each step to give you a complete understanding of the process. Whether you're filing as a salaried individual, freelancer, or business owner, TaxBuddy provides the support you need for a smooth, error-free tax filing experience.

Initial Connection and Understanding Your Tax Profile
Document Collection and Verification
AI-Powered Draft Preparation for ITR Filing
Personalized Expert Guidance
Review and Approval of Your Tax Return
Filing and Verification Assistance
Post-Filing Support and Notice Handling
Ease of Communication with TaxBuddy Experts
Additional Highlights of TaxBuddy’s Expert Call Experience
Conclusion
FAQs

Initial Connection and Understanding Your Tax Profile

When you first connect with a TaxBuddy expert, the call begins by establishing a thorough understanding of your tax profile. This is an essential step as every taxpayer's situation varies, and personalizing the process is key. The expert will ask you to share details about your income sources, such as salary, business earnings, capital gains, and income from investments like stocks or cryptocurrency. They may also ask if you have multiple employers or any foreign income.

The expert’s goal during this conversation is to gather information about your financial situation to ensure that all income sources are properly accounted for. They’ll take the time to ask targeted questions to understand whether you’re employed, self-employed, or receiving any other types of income that may affect your tax filing. By collecting this initial data, the expert will be able to provide customized guidance and advice tailored to your specific needs, ensuring that your tax return is accurate and complete.

Document Collection and Verification

Once the expert understands your tax profile, the next step is to gather the necessary documents required for filing your tax return. TaxBuddy uses a secure platform to ensure that your sensitive data is safe during this process. You’ll be asked to upload documents such as:

Form 16: This form, provided by your employer, contains the details of your salary and the tax that has been deducted at source (TDS).
Bank Statements: These help verify your income and expenses and can provide evidence for claiming deductions, such as interest from savings accounts.
Investment Proofs: You’ll need to upload documents that show your investments, especially if you’re claiming deductions under sections like 80C (for investments such as PPF or ELSS) or 80D (for health insurance premiums).
Capital Gains Statements: If you’ve sold stocks, mutual funds, or crypto, you’ll need to provide statements from your brokerage or crypto wallet to calculate your capital gains.

TaxBuddy's platform uses top-notch encryption technology to protect all your documents, ensuring that your data remains confidential and secure throughout the process.

AI-Powered Draft Preparation for ITR Filing

Once your documents are uploaded, TaxBuddy’s AI technology kicks in. The AI system auto-fills your Income Tax Return (ITR) form using the information from your documents as well as data from government databases such as your PAN, Aadhaar, and Form 26AS. This step is designed to speed up the process while reducing the chances of human error.

The AI-driven system works to ensure that your ITR is as accurate as possible, but it’s not a “set and forget” process. TaxBuddy experts still review the AI-generated draft to ensure that all your details are correct. If there are any missing deductions or exemptions, the expert adds them, optimizing your return to minimize your tax liability. This combination of AI and expert oversight results in a faster, more accurate tax filing process.

Personalized Expert Guidance

One of the biggest advantages of TaxBuddy is the personalized guidance you receive. After the AI-powered draft is prepared, the expert walks you through the details. This part of the call is crucial because it helps you understand your return before it is finalized. The expert explains the different sections of your ITR form, including the income you've reported, the deductions you've claimed, and any exemptions that may apply.

If you have more complex tax scenarios, such as earning income from foreign sources, capital gains from multiple assets, or crypto earnings, the expert will explain how these should be reported in your return. They will also walk you through the legal implications and tax-saving strategies available under the Income Tax Act, ensuring that you fully understand your filing.

Review and Approval of Your Tax Return

Once the expert has explained the draft ITR, you’ll have time to review it. This is an important step where you can ask questions or request clarifications about any part of the tax return. It’s important that you fully understand your tax return before giving your approval.

The expert will clarify doubts about your tax liabilities, the refund you can expect, any deductions you may not have fully understood, or any other part of the filing process. Once you’re confident that everything is correct, you’ll approve the return. After your approval, the expert finalizes your ITR, ensuring that everything is optimized for accuracy and tax savings.

Filing and Verification Assistance

After you approve your tax return, the expert proceeds to file it electronically. TaxBuddy is fully integrated with the Income Tax Department’s e-filing portal, meaning the filing process is completed within 24 to 48 hours.

In addition to filing, the expert assists you with e-verification. This is a mandatory step to confirm the authenticity of your tax return. There are several ways to verify your return, including Aadhaar OTP, net banking, or using your bank account for verification. The expert will guide you through the entire process, ensuring that your return is successfully verified and submitted.

Post-Filing Support and Notice Handling

The tax filing process doesn’t stop once your return is submitted. TaxBuddy offers post-filing support to keep track of your tax refund, resolve any discrepancies that might arise, and assist with any revisions if necessary.

If you receive a notice from the Income Tax Department, the expert is there to help. Whether the notice is a routine clarification or something more complex, TaxBuddy’s team will assist in addressing it. This support continues long after your return is filed, giving you peace of mind and ensuring you are compliant with all tax laws.

Ease of Communication with TaxBuddy Experts

Another standout feature of TaxBuddy is the ease with which you can communicate with their experts. Whether you prefer live chat, phone calls, or scheduled calls, the platform makes it simple to get in touch with the right person at the right time. For quick questions, you can use the AI chatbot, which is available 24/7 for immediate assistance. If you need more personalized help, the chatbot seamlessly connects you with a tax expert who can address more complex inquiries.

This accessibility ensures that you get the answers you need in a timely manner, especially during the busy tax season.

Additional Highlights of TaxBuddy’s Expert Call Experience

TaxBuddy goes beyond just filing your taxes. They ensure that your tax filing experience is thorough, secure, and optimized:

Professional Handling: TaxBuddy’s team consists of experienced Chartered Accountants and tax professionals who handle every aspect of your return with expertise.
Compliance Assurance: TaxBuddy stays up to date with the latest amendments to tax laws, ensuring that your filing is fully compliant.
Transparent Pricing: There are no hidden fees. You know exactly what you’re paying for at every step of the process.
Wide Support: TaxBuddy supports various taxpayer groups, including salaried individuals, freelancers, business owners, NRIs, and HUFs.
Fast Turnaround: TaxBuddy prioritizes speed, filing your return quickly without sacrificing accuracy.

By combining expert knowledge with AI-driven technology, TaxBuddy provides a comprehensive and smooth tax filing process, ensuring that you are well-prepared for the tax year ahead.

Conclusion

Filing your Income Tax Return (ITR) can often seem like a complicated and time-consuming process, but with TaxBuddy, you can rest assured that the entire journey will be smooth, efficient, and accurate. From the very first connection with an expert who understands your unique tax profile to the final e-filing and post-filing support, TaxBuddy offers a comprehensive solution for all your tax filing needs. With AI-powered systems, expert advice, and seamless communication, every step of the filing process is designed to minimize errors, maximize deductions, and ensure compliance with the latest tax laws.

Whether you're a salaried employee, a freelancer, or a business owner, TaxBuddy ensures that your ITR filing is handled efficiently. The platform’s user-friendly interface, combined with dedicated professional support, makes tax filing simpler than ever. For anyone looking for assistance in tax filing, it is highly recommended to download the TaxBuddy mobile app for a simplified, secure, and hassle-free experience.

FAQs

Q1. What happens during a TaxBuddy call for ITR filing?

During a TaxBuddy call, the expert will first understand your tax profile, including your income sources (salary, business, capital gains, etc.). They will then collect necessary documents, verify the information, and use AI to draft your Income Tax Return (ITR). The expert will guide you through the draft, explain any deductions or exemptions, and assist in filing your return. Post-filing support is also available for tracking refunds or resolving any issues.

Q2. What documents do I need to upload before my TaxBuddy call?

Before your TaxBuddy call, you’ll need to upload documents such as your Form 16, bank statements, investment proofs, capital gains statements (for stocks or crypto), and any other documents relevant for claiming deductions or exemptions. These documents will be used by the AI to auto-fill your ITR form.

Q3. How does AI help during the TaxBuddy call?

AI helps by auto-filling your ITR form based on the documents you upload. The system extracts the required data from your Form 16, investment proofs, and other documents to ensure accuracy and reduce manual errors. The AI also pre-fills data from government databases like PAN, Aadhaar, and Form 26AS, streamlining the process.

Q4. Will TaxBuddy’s expert guide me on tax-saving opportunities during the call?

Yes, TaxBuddy experts will guide you on tax-saving opportunities. They will help you identify eligible deductions and exemptions under sections like 80C, 80D, 80G, and others, making sure you claim all the benefits available to you under the Income Tax Act.

Q5. How do I approve the draft ITR during the TaxBuddy call?

Once the AI drafts your ITR, the expert will walk you through the entire document. After you’ve understood all the details and are satisfied with the information, you can approve the draft. The expert will then finalize and file the return electronically, ensuring everything is in order.

Q6. What happens if I have any doubts or questions during the TaxBuddy call?

If you have any doubts or questions, the expert will be happy to address them. They will clarify any aspects of the tax return, from income reporting to deductions or exemptions. The goal is to ensure you fully understand your filing before proceeding.

Q7. How does the e-filing and e-verification process work during the TaxBuddy call?

Once your ITR is approved, the expert will guide you through the e-filing process, which is done through TaxBuddy’s integration with the Income Tax Department’s portal. The expert will also assist you with the e-verification process, which can be done through Aadhaar OTP, net banking, or bank account-based verification.

Q8. Can TaxBuddy handle complex tax scenarios during the call?

Yes, TaxBuddy experts are well-equipped to handle complex tax scenarios such as foreign income, capital gains from multiple sources, crypto earnings, and more. They will guide you through the correct way to report these income sources, ensuring compliance with Indian tax laws.

Q9. How quickly will my ITR be filed after the TaxBuddy call?

After you approve your ITR, TaxBuddy experts will file your return electronically within 24 to 48 hours. The platform ensures quick processing, allowing you to meet the tax deadlines comfortably.

Q10. Does TaxBuddy offer post-filing support?

Yes, TaxBuddy provides post-filing support. This includes tracking your refund status, helping you resolve any discrepancies, and assisting with revised returns if necessary. The platform ensures continuous support even after your ITR is filed.

Q11. Can I reach out to TaxBuddy experts after my call for further assistance?

Absolutely. TaxBuddy offers continuous support through various channels such as live chat, phone calls, and scheduled follow-ups. If you have any concerns or need assistance with further filing steps or post-filing queries, you can easily reach out to TaxBuddy experts.

Q12. How does TaxBuddy ensure the security of my documents during the call process?

TaxBuddy uses advanced encryption technology to ensure that your documents and personal information are kept safe and secure. All uploaded documents are processed in a highly secure environment, giving you peace of mind throughout the entire filing process.