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Automated ITR filing tools have transformed how taxpayers in India prepare and submit their income tax returns. These intelligent platforms use AI-driven automation, pre-filled forms, and real-time validations to reduce human error and save time. By connecting directly with PAN, Form 16, and Form 26AS databases, they simplify data collection, ensuring accuracy and compliance with the Income Tax Act, 1961. From salaried professionals to freelancers and NRIs, these tools make

If your Income Tax Return (ITR) verification is still pending, your filing isn’t complete yet. The Income Tax Department treats an unverified return as invalid, meaning it’s as if the return was never filed. This can cause refund delays, interest on taxes, or even notices from the department. The verification step confirms that the details you filed are accurate and genuine. Fortunately, completing ITR verification takes just a few minutes through Aadhaar OTP, net banking, or

Section 194J of the Income Tax Act, 1961 deals with Tax Deducted at Source (TDS) on payments made to professionals and technical service providers. It ensures that tax is collected at the time of payment itself, helping maintain compliance and reducing evasion. This section applies to services rendered by professionals such as doctors, engineers, consultants, and IT experts. With the recent updates from Budget 2025, the threshold limit has increased to ₹50,000, and TDS rates

Freelancers and consultants in India face unique tax challenges — from managing advance tax payments and GST compliance to selecting the right tax regime. Effective tax planning helps minimize liability and ensures compliance with changing laws. With updates from Budget 2025, freelancers now have clearer options for deductions, presumptive taxation, and reporting income through ITR-3 or ITR-4 forms. Platforms like TaxBuddy simplify these processes using AI-driven tools and e

Section 80U of the Income Tax Act, 1961, provides a fixed tax deduction to individuals certified as persons with disabilities. It is designed to ease financial strain by reducing taxable income, irrespective of medical expenses. The deduction applies to resident individuals who have at least 40% disability certified by a recognized authority. This benefit reflects the government’s intent to ensure inclusivity and financial support for differently-abled taxpayers through stra

Employee Stock Option Plans (ESOPs) are a popular way for companies to reward and retain employees by offering ownership in the business. However, these benefits come with tax implications at multiple stages. ESOP taxation in India occurs first when shares are allotted (perquisite tax) and again when they are sold (capital gains tax). Proper reporting in your Income Tax Return (ITR) is crucial to avoid errors, penalties, and scrutiny. Understanding how these taxes apply, how

Section 154  of the Income Tax Act, 1961, empowers taxpayers to correct apparent mistakes  in their income tax assessments or intimation orders issued by the department. These errors are typically factual or computational and do not involve complex legal interpretations. The government’s e-filing portal now allows individuals to file rectification requests entirely online, making it simpler and faster to correct discrepancies such as mismatched TDS, wrong loss carry-forwards,

A TDS mismatch between Form 26AS and the Annual Information Statement (AIS) can lead to refund delays, inaccurate tax credit claims, and even income tax notices. The Income Tax Department uses both documents to verify reported income and tax deductions, so even minor differences must be resolved quickly. For Assessment Year 2025–26, the emphasis on reconciling TDS data across Form 26AS  and AIS has increased, as Form 26AS remains the official record of TDS credits, while AIS

Filing an Income Tax Return (ITR) for crypto income under Section 115BBH in India involves specific reporting rules, fixed tax rates, and detailed compliance steps. Income from Virtual Digital Assets (VDAs) like cryptocurrencies and NFTs is taxed at a flat 30% rate, with no deductions or loss set-off permitted. Every crypto transaction must now be reported in the ITR under a dedicated “Schedule VDA,” ensuring transparency and compliance with Income Tax Department guidelines.

Filing a revised Income Tax Return (ITR) under Section 139(5) allows taxpayers to correct any mistakes or omissions made in their original return. Whether it’s an income not reported, a missed deduction, or a wrong ITR form used, Section 139(5) provides an opportunity to fix these errors without penalty if done within the specified time. This process ensures accurate tax computation and compliance with the Income Tax Act, 1961, especially for FY 2024–25 (AY 2025–26). Table