One stop for everything related to taxes,
Our Blogs

Startups and LLPs in India are required to file their Income Tax Returns (ITR) annually, irrespective of profits or revenue. This compliance ensures financial discipline, maintains credibility with investors, and keeps businesses eligible for tax benefits such as Section 80-IAC deductions for DPIIT-recognized startups. Filing correctly also prevents penalties, secures the ability to carry forward losses, and ensures compliance with statutory requirements under the Income Tax

NRIs earning income in India must carefully select the correct ITR form to ensure compliance and avoid penalties. Choosing the wrong form can lead to processing delays, scrutiny, or fines. Income from property, capital gains, salary, business, or professional activity determines which ITR form is suitable. Recent updates for AY 2025-26 emphasize filing deadlines, e-verification, and DTAA applicability for NRIs. Proper reporting of Indian income and bank account details is ess

Filing Income Tax Returns (ITR) is essential for pensioners to ensure compliance, claim rightful deductions, and maintain a clear financial record. For AY 2025-26 (FY 2024-25), pensioners enjoy specific benefits under Indian tax laws, including higher exemption limits, standard deductions, and eligibility for certain exemptions like 80TTB. Selecting the correct ITR form, reporting pension income accurately, and e-verifying the return are crucial steps. Leveraging simplified

Employee Stock Option Plans (ESOPs) and Restricted Stock Units (RSUs) are popular forms of employee compensation in India, offering potential wealth creation alongside salary. Filing Income Tax Returns (ITR) for individuals holding ESOPs or RSUs requires careful reporting of perquisites, capital gains, and foreign assets to comply with the Income Tax Act, 1961. Choosing the correct ITR form is crucial to ensure accuracy, avoid penalties, and prevent delays in processing. Ac

Filing income tax returns for complex financial scenarios involves navigating multiple income sources, deductions, and ever-changing rules under the Income Tax Act 1961. Mistakes during self-filing can result in penalties, delayed refunds, or scrutiny by the Income Tax Department. Assisted filing connects taxpayers with qualified professionals and AI-powered platforms, reducing errors, ensuring compliance, and optimizing eligible tax benefits. Platforms like TaxBuddy combin

Choosing the right tax regime while filing Income Tax Returns (ITR) in India can significantly impact your tax liability. The old tax regime allows multiple exemptions and deductions, whereas the new tax regime offers lower rates and simplicity but restricts most deductions. Understanding which regime benefits you requires evaluating income, investments, eligible deductions, and filing flexibility. TaxBuddy’s mobile app simplifies this process by comparing liabilities under

Late filing of income tax returns and receiving notices from the Income Tax Department can result in significant penalties and scrutiny....

Receiving an income tax notice can be stressful, confusing, and time-sensitive. TaxBuddy’s expert-driven platform simplifies this process...

A Section 156 Demand Notice is an official communication issued by the Income Tax Department when a taxpayer owes any tax, interest,...

Section 148A of the Income Tax Act, 1961, introduces a structured, taxpayer-friendly procedure for reassessment. Unlike the earlier...