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Artificial Intelligence is revolutionizing the tax landscape in India, automating calculations, data entry, and compliance checks while improving accuracy and speed. Platforms like TaxBuddy combine AI-driven automation with expert review, making tax filing faster, more efficient, and less error-prone. Despite these advancements, AI cannot fully replace tax consultants due to the need for nuanced judgment, strategic planning, and personalized advisory. Lets explore how AI and

Filing Income Tax Returns in India requires precision, compliance with evolving laws, and careful handling of sensitive financial information. While AI tools like ChatGPT can provide general guidance, they lack real-time updates, document validation, and expert review essential for accurate ITR filing. TaxBuddy, on the other hand, combines AI-driven automation with Chartered Accountant oversight, ensuring every return is compliant, secure, and optimized for deductions and ex

Filing income tax returns in India has evolved into a largely digital experience, with multiple tax filing apps offering tailored solutions for diverse taxpayer needs in 2025. These apps simplify filing through automation, expert support, pre-filled forms, and mobile integration. TaxBuddy, a leading AI-powered platform, provides both self-filing and expert-assisted options, making it suitable for salaried individuals, freelancers, and business owners alike. Comparing featur

ITR filing has become simpler and smarter in 2025, thanks to feature-rich mobile apps that combine automation, expert support, and government integration. These apps not only fetch Form 16 and AIS data automatically but also provide real-time guidance, ensuring 100% compliance and zero errors. Whether you are a salaried individual, a freelancer, or an NRI, the best ITR filing apps in India now make tax filing possible anytime, anywhere – directly from your smartphone. Table

The Income Tax Act, 1961, defines clear provisions for reporting income from multiple house properties. With the latest updates from Budget 2025, taxpayers can now claim up to two self-occupied houses as nil income, simplifying compliance and filing. Understanding the correct ITR form, method of computation, and available deductions ensures accurate reporting and helps avoid notices or penalties. Table of Contents Understanding Income from House Property under the Income Tax

Choosing the right TDS form is essential for accurate tax compliance under the Indian Income Tax Act. Both Form 24Q and Form 26Q serve as quarterly TDS return statements but apply to entirely different types of payments. Form 24Q is used for salary-based deductions under Section 192 , while Form 26Q applies to payments like rent, commission, and professional fees under Section 200(3). The right form ensures proper tax reporting and helps avoid penalties for incorrect filing

When an Income Tax Return (ITR) is marked as “processed” but the refund hasn’t reached your account, it signals a gap between approval and credit. The reasons could range from mismatched bank details to verification delays at CPC or NSDL. With the rise of automated e-filing systems, most refunds are credited within weeks — yet a growing number of taxpayers face such delays. Understanding the cause and knowing where to act can help resolve the issue faster. After processing, r

Incorrect or outdated bank account details can delay or even block income tax refunds. Fortunately, the Income Tax Department allows taxpayers to correct or update their bank information after filing their ITR . Using the e-filing portal, one can revalidate, update, or nominate a new account linked with PAN to ensure refunds are credited seamlessly. The process is entirely online and can be completed before the return is processed. Table of Contents Why Correcting Bank Accoun

Form 16B is a crucial TDS certificate issued to property sellers when tax is deducted at source under Section 194IA of the Income Tax Act, 1961. It confirms that the buyer has deducted and deposited TDS on the sale of property with the government. This document is downloaded from the TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal by the buyer and shared with the seller. The process requires basic details like PAN, acknowledgment number of Form 26QB

Section 194A of the Income Tax Act, 1961 governs the deduction of Tax Deducted at Source (TDS) on interest income other than interest on securities. It primarily applies to interest earned from fixed deposits, recurring deposits, loans, and advances by Indian residents. The provision ensures that tax is deducted at the source before payment, promoting timely compliance and minimizing evasion. Tax on interest income is deducted when the amount exceeds specified limits, and the