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Married couples with dual income in India have unique tax planning opportunities because each spouse is treated as a separate taxpayer under the Income Tax Act, 1961. Choosing the right tax regime, optimising individual deductions, and structuring income carefully can significantly reduce the overall tax burden. With updated tax slabs and higher rebates under the new tax regime, many dual-income households can legally lower taxes without complex investments. Digital platforms

Tax planning is a year-long exercise governed by timelines set under the Income Tax Act, 1961. Most tax-saving opportunities, including deductions, exemptions, advance tax payments, and capital gain reinvestments, must be completed before the financial year ends. Once the year closes, income becomes final and irreversible. Income tax return filing is designed only to report past transactions, not to restructure them. Attempting tax planning at the time of ITR filing often res

When parents begin to rely financially on their children, tax planning becomes both a responsibility and an opportunity. The Income Tax Act allows specific deductions and investment strategies that can reduce taxable income while supporting dependent parents. Health insurance premiums, medical expenses, senior citizen investments, and income allocation rules play a central role in this planning. For FY 2025-26 (AY 2026-27), these provisions largely continue with refined compl

Claiming tax deductions is a legitimate way to reduce tax liability, but excessive or disproportionate claims often invite scrutiny from the Income Tax Department. Advanced data analytics now compare deductions with income patterns, bank activity, and third-party information available through AIS and TIS. When deductions appear unusually high relative to reported income, returns are more likely to be selected for verification or detailed assessment. Understanding how excessiv

Last-minute tax saving under the Income Tax Act, 1961 often creates more problems than benefits. Rushed investments, hurried document collection, and incomplete verification lead to incorrect claims, mismatches with Form 26AS and AIS, and missing disclosures. These errors frequently result in defective returns under Section 139(9) or force taxpayers to revise their returns under Section 139(5). Filing close to the deadline increases the risk of notices, refund delays, and com

Section-wise tax saving under the Income Tax Act often appears effective but fails to deliver optimal results without integrated planning. Focusing on isolated deductions like Section 80C or 80D ignores how income slabs, regime selection, loss set-offs, and compliance rules interact. This fragmented approach frequently results in unused deduction limits, incorrect claims, or higher tax liability despite investments. Integrated tax planning evaluates total income structure, re

Advance tax obligations often become complex when income does not accrue evenly throughout the year. Salaried individuals with bonuses, freelancers with seasonal earnings, and business owners with fluctuating cash flows frequently struggle to match tax payments with actual income. TaxBuddy addresses this gap by mapping advance tax installments directly to real income patterns instead of static estimates. Using projected earnings, deductions, tax regime selection, and real-tim

Advance tax planning plays a critical role in preventing interest liabilities under Sections 234B and 234C of the Income Tax Act, 1961. These provisions impose interest when advance tax is either underpaid or paid late during the financial year. Proper estimation of income, timely quarterly payments, and periodic revisions help taxpayers stay compliant and avoid avoidable interest costs. With stricter scrutiny on advance tax compliance continuing in recent years, aligning tax

Professionals such as freelancers, consultants, and independent practitioners often deal with irregular and project-based income rather than fixed monthly earnings. This makes advance tax compliance challenging, as tax liability cannot be estimated using standard salary-based assumptions. Under the Income Tax Act, 1961, advance tax becomes mandatory when annual tax liability exceeds ₹10,000, even if income fluctuates during the year. TaxBuddy addresses this gap by offering st

Tax planning becomes critical when side income is earned alongside a full-time salary, as all earnings are aggregated under the Income Tax Act, 1961. Income from freelancing, rentals, investments, or online gigs can quickly push total income into higher tax slabs if left unplanned. Choosing the correct income head, managing advance tax, and selecting between the old and new tax regimes directly impact tax liability. Structured planning helps reduce interest, penalties, and no