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Freelancers and self-employed professionals in India must pay advance tax if their annual tax liability exceeds ₹10,000 after TDS adjustments. Advance tax under Sections 207–219 of the Income Tax Act, 1961 ensures that taxes are paid in instalments throughout the year instead of lump sum at year-end. The process helps maintain consistent revenue flow for the government and prevents last-minute tax burdens for professionals. With the 2025–26 updates, clarity on due dates, calc

When an Income Tax Return (ITR) is marked as “processed” but the refund hasn’t reached your account, it signals a gap between approval and credit. The reasons could range from mismatched bank details to verification delays at CPC or NSDL. With the rise of automated e-filing systems, most refunds are credited within weeks — yet a growing number of taxpayers face such delays. Understanding the cause and knowing where to act can help resolve the issue faster. After processing, r

Paying advance tax is mandatory if your total tax liability exceeds ₹10,000 in a financial year. The process has become entirely digital, with Challan 280 serving as the official form to pay advance tax online under the Income Tax Act, 1961. This form is used for various payments such as advance tax, self-assessment tax, and regular assessment tax, ensuring timely compliance with tax obligations. TaxBuddy  simplifies this process by helping taxpayers calculate their advance t

Advance tax payments and ITR deadlines are two sides of the same compliance framework under the Income Tax Act, 1961. While advance tax ensures that taxes are paid in installments throughout the financial year, the ITR deadline marks the final point of reporting and adjusting liabilities. Their link lies in timing, compliance, and penalties—failure in either can lead to financial costs and legal consequences. TaxBuddy simplifies this entire process by offering reminders, AI-

Dividend income is a significant source of passive income for many individuals and investors, but it often comes with tax implications...

The Advance Tax system in India is a crucial element of tax compliance, ensuring that taxpayers meet their tax obligations in a timely...

New difficulties and opportunities arise with retirement. Given their particular financial situation, pensioners must be aware of the...

Taxpayers often rely on Form 16 to file their income tax returns (ITR) and assume that all their income, including perquisites and...

Income Tax Return (ITR) filing can often be a confusing process for many taxpayers, especially when it comes to understanding the...

Form 16 is an essential document for salaried individuals when filing their Income Tax Return (ITR) . It acts as a certificate provided...