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Income tax notices often arise from mismatches in reported income, incorrect bank details, wrong ITR forms, or missing high-value transaction disclosures. Automated systems like AIS and Form 26AS flag discrepancies instantly, increasing the chance of scrutiny under sections such as 143(1) or 147 . Errors in TDS claims, undeclared income, or ineligible deductions are among the most frequent causes of notices. With stricter digital verification post-FY 2024-25, accurate rep

Freelancers and consultants in India must navigate unique challenges while filing Income Tax Returns (ITR) for FY 2024-25. Unlike salaried employees, their income is not subject to automatic TDS, making accurate reporting, expense tracking, and timely filing essential. Choosing the correct ITR form, maintaining supporting documents, providing bank account details, and understanding deductions under both the presumptive and regular taxation schemes are key to compliance and av

Form 16 is a crucial document for salaried individuals in India, serving as a certificate issued by employers that details the salary...

Advance tax payment is a system where individuals and companies pay their Income Tax in installments during the financial year. This...

Timely advance tax payment online is quite important for every eligible taxpayer in India. What is advance tax ? It's simply a system...

The Central Board of Direct Taxes (CBDT) has extended the Income Tax Return (ITR) filing deadline for the Financial Year 2024-25...

The extension of the Income Tax Return (ITR) filing deadline for FY 2024-25 (Assessment Year 2025-26) by the Central Board of Direct...

Claiming tax deductions can be a confusing process, especially with the frequent changes to tax laws. For FY 2024-25, the amendments...

Form 16B is a crucial TDS certificate issued under Section 194-IA of the Income Tax Act, 1961. It is given to the buyer in property transactions where tax at source (TDS) has been deducted, primarily in cases where the property transaction exceeds Rs. 50 lakh. This form certifies the deduction and deposit of TDS made by the buyer on behalf of the seller, ensuring compliance with the tax laws. A common question that arises among buyers is whether it is possible to download Fo

The Indian Income Tax Act, 1961, incorporates several provisions for Tax Deducted at Source (TDS) to ensure timely collection of taxes....