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AIS vs bank statement mismatches occur when the entries reported to the Income Tax Department differ from the actual transactions appearing in a taxpayer’s bank records. These mismatches are increasingly common because AIS aggregates data from banks, brokers, and other reporting entities, capturing interest, deposits, securities transactions, and high-value transfers. When this data does not align with the income declared in the ITR, automated systems may issue notices for cl

Introduction The deductors must create a challan in order to pay the TDS amount that is withheld from payments. When the government deducts TDS, the sum can be paid (via book entry) without creating a challan. This straightforward procedure is made possible by Form 24G, a compliance instrument. In order to pay the TDS amount to the relevant authority, prescribed government officials combine the payment details ( TDS-Salary /TDS-Non Salary/TDS-Non Salary Non Residents/TCS) in

Refund reissue requests often get denied when bank details fail validation, TDS entries do not match the Income Tax Department records, ITR verification is incomplete, or documents supporting deductions are missing. Denial simply means the system could not process the refund due to mismatches or unresolved issues. The Income Tax portal allows taxpayers to correct details, file rectification requests, or raise a grievance to get refunds reprocessed. Most cases are resolved by

Introduction Professional tax in Maharashtra is a state tax that targets individuals who earn income, whether through employment or self-employment. This tax affects salaried employees , freelancers, and business owners alike. Employers typically deduct it from their employees' salaries, while self-employed individuals are responsible for paying it directly. To avoid penalties, it's essential to stay on top of these payments. Table of Contents Introduction Professional Tax in

Introduction In 2025, ration cards can be downloaded quickly, electronically, and via the Mera Ration App, DigiLocker, or official State PDS portals. Using their Aadhaar number, mobile number, or ration card number, beneficiaries can simply complete an e-ration card download to obtain a PDF copy that can be used to obtain subsidised food grains. Downloading the ration card by Aadhaar Number is a simple process with a few easy-to-understand steps. Table of Contents Introducti

Introduction The Central Government launched the Gold Monetisation Scheme to give people several ways to make money from their privately held gold. The Gold Monetisation Scheme can be used to earn interest by exchanging the gold on hand because Indians have a significant appetite for gold and gold jewellery. The gold monetisation system also includes the government's updated Gold Deposit system and the updated Gold Metal Loan Scheme. Table of Contents Introduction What is the

Clubbing of income applies when earnings of a spouse or minor child must be added to the taxpayer’s total income under Section 64 . This adjustment prevents tax avoidance through diversion of income and often becomes the basis for tax notices when clubbed income is not disclosed accurately. Minor’s interest income, spouse-related gifts, and transfers without adequate consideration fall under these rules, and mismatches frequently surface in AIS or Form 26AS. Many taxpayers se

An income tax notice for non-disclosure of income is issued when the Income Tax Department identifies earnings that do not appear in your filed return. Such mismatches often arise from bank deposits, AIS data, Form 26AS , TDS records, or high-value financial transactions flagged through automated reporting systems. The goal of the notice is to correct discrepancies, seek clarification, or request additional disclosure to ensure accurate assessment. Understanding the reason be

Interest income mismatch between the Annual Information Statement and the Income Tax Return is one of the most frequent issues flagged during tax processing in India. Banks, NBFCs, and other entities often report interest at different times, causing figures in AIS to differ from what appears in the taxpayer’s ITR. These discrepancies commonly trigger notices under sections 143(1) or 139(9) , delay refunds, or lead to incorrect tax calculations. Early reconciliation helps avoi

A Section 143(1) intimation often highlights mismatches in income, deductions, or tax credits, prompting many taxpayers to recheck their original filing. When the numbers in the intimation differ from what was reported, a revised return under Section 139(5) becomes the corrective tool to ensure accuracy. Filing it on time helps prevent unnecessary tax demands, interest, or scrutiny. Platforms like TaxBuddy naturally simplify this journey by identifying discrepancies and guidi