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Advance tax payments often create confusion because taxpayers expect instant updates, yet the Income Tax system records these payments through multiple layers that take time to sync. Understanding where and how this information appears ensures that taxpayers can verify their payments confidently and avoid issues during ITR filing . The process involves checking the Annual Information Statement, challan status, and Form 26AS across official government portals. Reliable confir

Section 80TTA allows a deduction of up to ₹10,000 on interest earned from savings bank accounts, and this benefit can be claimed directly inside ITR-1 under the Chapter VI-A deduction schedule. The rule applies to individuals and HUFs with interest income from savings accounts in banks, post offices, or cooperative societies. Interest from fixed deposits or recurring deposits is not covered under this section. Senior citizens use Section 80TTB instead. Accurate reporting of

Section 270A of the Income Tax Act imposes heavy penalties when income is misreported or under-reported. A 200% penalty applies to misreporting, while a 50% penalty is levied for under-reporting, making accuracy in tax reporting essential. Many taxpayers face these penalties due to missing income, incorrect disclosures, poor documentation, or delays in filing. Preventing such outcomes requires a clear understanding of what qualifies as misreporting, how the tax department tr

An income tax notice for non-disclosure of income is issued when the Income Tax Department identifies earnings that do not appear in your filed return. Such mismatches often arise from bank deposits, AIS data, Form 26AS , TDS records, or high-value financial transactions flagged through automated reporting systems. The goal of the notice is to correct discrepancies, seek clarification, or request additional disclosure to ensure accurate assessment. Understanding the reason be

The future of tax consulting in India is being reshaped by Artificial Intelligence. No longer limited to routine automation, AI is emerging as a force that enhances compliance, strengthens fraud detection, and drives smarter decision-making across the tax ecosystem. For a country governed by the Income Tax Act, 1961, this shift is crucial as taxpayers demand speed, accuracy, and reliability. With platforms like TaxBuddy already integrating AI features to simplify filing, the

TaxTech is reshaping how salaried employees in India approach tax filing in 2025. With evolving tax laws, revised income tax slabs, and the growing importance of compliance, traditional filing methods often fall short. Technology now plays a central role in providing accuracy, reducing effort, and optimizing financial outcomes. By integrating AI-driven planning, real-time data, and simplified filing tools, TaxTech ensures employees can manage taxes efficiently without gettin

Tax filing in India has transformed dramatically over the decades. From lengthy paper-based returns to digital e-filing portals and now AI-powered platforms, every stage has reshaped the compliance experience. Today, automation and intelligent systems are reducing errors, saving time, and making income tax filing more accessible than ever before. This evolution highlights how the system has progressed from manual paperwork to digital efficiency and, ultimately, to AI-driven

Filing income tax in India has evolved beyond paper forms and manual calculations. Taxpayers now have access to AI-driven assistants like ChatGPT, which provide instant answers and guidance on deductions, document preparation, and ITR sections. Meanwhile, traditional platforms such as TaxBuddy offer end-to-end filing solutions with auto-filled forms, government portal integration, error-checking, and real-time compliance updates. Understanding the benefits and limitations

Conversational AI is reshaping tax filing in 2025, enabling real-time, context-aware guidance that simplifies complex tax tasks. For Indian taxpayers under the Income Tax Act, 1961, AI assistants streamline form selection, document handling, and compliance verification. By translating legal and procedural jargon into plain language, these systems reduce errors, save time, and enhance overall efficiency. Platforms like TaxBuddy leverage Conversational AI to offer seamless mo

Artificial Intelligence is reshaping how Indians file income tax returns in 2025. With AI-driven platforms like TaxBuddy, taxpayers can now complete filings faster, with fewer errors, and with tailored guidance for complex scenarios. Automation reduces manual entry, ensures proper application of deductions, and integrates seamlessly with banking systems, making tax compliance simpler and more secure. AI transforms an otherwise tedious process into a smooth, efficient, and int