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A GST return is a mandatory electronic statement used to report sales, purchases, output tax, and input tax credit under India’s Goods and Services Tax system. Small businesses must file these returns accurately and on time to avoid penalties and maintain smooth compliance. Each return type serves a specific purpose, from outward supplies to monthly summaries, making GST filing a detailed process for business owners. With frequent updates in GST rules and reconciliation chall

Salary mismatch notices are among the most common issues faced by salaried taxpayers. These occur when the salary reported in Form 16, Form 26AS , AIS, or TDS statements does not match the income declared in the Income Tax Return. Even minor discrepancies can trigger notices because the Income Tax Department compares employer filings, bank entries, and payroll records with the taxpayer’s return. Platforms like TaxBuddy help resolve these mismatches by identifying inconsiste

Time limits for income tax notices under Sections 143 , 148 , and 156 determine how long the Income Tax Department can process returns, start scrutiny, reopen assessments, or raise tax demands. These deadlines shape whether a notice is valid or time-barred. Section 143 governs processing and scrutiny assessments, Section 148 deals with reassessments for escaped income, and Section 156 issues payment demands based on earlier orders. Each carries strict statutory timelines to

AIS mismatch income tax notices arise when the income reported in the Annual Information Statement differs from what appears in an income tax return. These discrepancies usually involve bank interest, dividends, TDS entries, securities transactions, or other third-party data submitted to the Income Tax Department. Automated notices highlight mismatched figures that may lead to incorrect tax calculation, refund delays, or additional tax demands. Quick verification and accurate

Selecting the correct ITR form is essential for pensioners to ensure accurate reporting and smooth processing under the Income Tax Act, 1961. The choice between ITR-1 and ITR-2 depends on income limits, capital gains, the number of house properties, and the presence of foreign assets. Pension-only income with basic interest earnings often fits within ITR-1 , while capital gains, multiple houses, or income above ₹50 lakh automatically shift the requirement to ITR-2. Filing wi

Section 80DDB of the Income Tax Act allows a tax deduction for medical expenses incurred on specified serious diseases affecting dependent family members, including dependent parents. The provision supports taxpayers facing high treatment costs for illnesses such as cancer, chronic renal failure, neurological disorders, and other critical ailments listed under Rule 11DD. Deduction eligibility depends on age, actual medical bills, and reimbursements received, with higher limi

Refund adjustments under Section 245 often catch taxpayers off-guard, especially when expecting a refund for the current year but receiving an intimation instead. Section 245 empowers the Income Tax Department to set off an upcoming refund against unpaid tax dues from previous years. This adjustment is not automatic; it involves an official notice, a response window, and a mandatory review of objections before any action. Understanding what triggers these adjustments, how th

In-kind donations, such as clothes, food, books, or other non-monetary goods, hold significant value for charitable organisations, but they do not qualify for tax deductions under Indian income tax law. Section 80G of the Income Tax Act allows deductions only for monetary contributions made through cash (up to ₹2,000), cheque, draft, or digital payment methods. Tax deductions require verifiable financial transactions, supported by valid receipts from approved charitable insti

Rent deduction under House Rent Allowance (HRA) often hinges on one critical detail: the landlord’s PAN. Tax rules link HRA eligibility to proper documentation, and PAN becomes relevant when annual rent crosses a specific threshold. Most salaried individuals face confusion about when the PAN requirement applies, how to claim HRA without it, and what to do if the landlord does not hold a PAN or refuses to provide one. Clear guidelines exist within the Income Tax Act to help d

Foreign Tax Credit allows resident taxpayers in India to avoid double taxation on income earned abroad by offsetting tax already paid in another country. The process requires accurate reporting of foreign income, filing Form 67 , and submitting supporting evidence before filing the return . Income earned outside India must be declared in Schedule FSI and Schedule TR to compute the eligible credit under Indian tax rules. Each country’s tax payment is evaluated separately, and