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A defective return notice under  Section 139(9) is issued by the Income Tax Department when an Income Tax Return (ITR) contains missing details, inconsistencies, or mismatched data that prevent proper assessment. This notice gives taxpayers a chance to rectify such defects within a specified time to avoid their return being treated as invalid. The recent Budget 2025 and CBDT updates have improved the e-filing process, making it simpler for taxpayers to identify and correct th

The ITR-U  or Updated Income Tax Return allows taxpayers to correct or update previously  filed returns  within a specified window. For FY 2024-25 (AY 2025-26), the original return deadline has been extended to September 15, 2025, followed by a belated filing period until December 31, 2025. From April 1, 2026, taxpayers can file an ITR-U to make corrections until March 31, 2030—an extended 48-month period introduced under the Finance Act 2025. These changes make tax complianc

The Income Tax Department allows taxpayers to file their returns even after missing the due date through a belated return or to correct past mistakes through an updated return. Understanding the difference is crucial because the type of return you file affects your tax liability, penalties, and refund eligibility. Both options serve different purposes—while a belated return is about delayed compliance, an updated return is about rectification and transparency. Choosing the ri

Filing Income Tax Returns (ITR)  can be a complex process, especially when dealing with specific sources of income, such as interest income. Interest income, whether from savings accounts, fixed deposits, or bonds, must be accurately reported to ensure tax compliance. Misreporting or underreporting interest income can lead to penalties, scrutiny, and delays in processing refunds. This section explores the key aspects of reporting interest income, how to stay updated with TDS

Section 142(1) notice  of the Income Tax Act grants the Income Tax Department the authority to issue notices to taxpayers for various reasons, primarily when they fail to file their Income Tax Returns (ITR) or fail to respond to earlier notices. A Section 142(1) notice serves as a formal communication from the tax authorities, prompting the taxpayer to submit their ITR, respond to a query, or provide additional information necessary for the completion of their tax assessment.

Receiving a notice under Section 143(2) of the Income Tax Act  can be an overwhelming experience for taxpayers. This notice indicates that the Income Tax Department is scrutinizing the information provided in your Income Tax Return (ITR) for a particular financial year. The scrutiny is typically aimed at verifying whether the income reported, deductions claimed, or tax calculations are correct and in compliance with the law. While receiving such a notice may cause anxiety, it

ITR-6 is the prescribed income tax return form for all companies in India, except those claiming exemption under Section 11. Applicable for Assessment Year 2025-26, this form must be filed electronically, typically using a digital signature, to ensure statutory compliance. Companies, whether Indian or foreign, must disclose income, deductions, and other mandatory details accurately to avoid penalties. Proper adherence to ITR-6 requirements helps businesses maintain transparen

Missing the income tax return (ITR) deadline can lead to penalties, interest, and the loss of certain benefits under the Income Tax Act, 1961. However, filing after the deadline is still possible, and modern platforms like TaxBuddy simplify this process with AI-powered automation, expert guidance, and secure document handling. With its mobile app, TaxBuddy ensures accuracy and compliance while reducing stress for taxpayers who have missed the due date. Table of Contents Under

Filing income tax returns late is generally considered better than not filing at all, but both come with consequences. A belated return attracts penalties and interest, while complete non-filing can trigger prosecution, heavy fines, and legal complications. Updated provisions under the Income Tax Act, 1961, clearly distinguish between these two scenarios, making it vital for taxpayers to understand the risks before missing deadlines. Choosing to file late keeps compliance int

The Income Tax Department has set clear deadlines for filing original, revised, belated, and updated returns. For FY 2024-25 (AY 2025-26), the due date for non-audit taxpayers was extended to 16th September 2025. Taxpayers who missed this deadline can still file belated or revised returns until 31st December 2025. Beyond this, the updated return option (ITR-U) allows corrections or delayed filing up to four years later, but with additional costs. Understanding these timelines