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Tracking a rectification request on the Income Tax Portal has become significantly easier after the 2025 system enhancements that now allow both CPC-processed and AO-processed rectifications to be monitored online. The portal displays real-time updates regarding errors corrected under Section 154 of the Income Tax Act, 1961, ensuring clarity on whether a request is submitted, in progress, completed, or rejected. With the upgraded dashboard and streamlined navigation, taxpaye

Refund status showing failure usually indicates that the Income Tax Department could not credit the refund because the bank account details in the return do not match PAN records, lack pre-validation, or belong to an inactive or closed account. Refund failure is primarily a banking information mismatch issue, not an error in the ITR itself. Correcting the bank details, validating the account, and initiating a refund reissue request typically resolves the problem. With stricte

The belated ITR filing last date for FY 2024-25 is December 31, 2025, and this deadline applies to anyone who misses the original due date, which was extended to September 15, 2025 for most non-audit taxpayers. A belated return lets taxpayers file after the due date, but it comes with late fees, interest, and certain restrictions. Refunds may get delayed, losses may not be carried forward, and penalties under Section 234F can go up to ₹5,000. Platforms such as TaxBuddy pro

Refunds credited twice by the Centralised Processing Centre (CPC) typically occur due to system glitches, duplicate processing, or mismatches in tax calculations under the Income Tax Act 1961. This situation can place taxpayers at risk of future demand notices, rectification orders, or penalty exposure if not handled correctly. Understanding why the duplicate refund occurred and how to report it promptly is essential, as CPC Bengaluru now has the authority to reverse excess r

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