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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Incorrect or outdated bank account details can delay or even block income tax refunds.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

When the tax deducted at source (TDS) exceeds your actual income tax liability, the excess amount becomes refundable under the Income Tax Act, 1961. To receive this refund, a taxpayer must file an Income Tax Return (ITR) for the respective financial year, ensuring all income, deductions, and exemptions are correctly reported. The process involves filing, verification, and refund credit to the taxpayer’s registered bank account. Understanding the steps and timelines helps avo

Form 16A and Form 16B are both TDS certificates under Indian tax laws, but they serve entirely different purposes. Form 16A applies to non-salary income such as interest, rent, or professional fees, while Form 16B is specific to TDS deducted on property transactions above ₹50 lakh. Knowing how these forms differ ensures accurate filing, proper TDS credit claims, and smooth tax compliance. With digital platforms like TaxBuddy simplifying TDS tracking and filing, taxpayers c

Freelancers and consultants in India face unique tax challenges — from managing advance tax payments and GST compliance to selecting the right tax regime. Effective tax planning helps minimize liability and ensures compliance with changing laws. With updates from Budget 2025, freelancers now have clearer options for deductions, presumptive taxation, and reporting income through ITR-3 or ITR-4 forms. Platforms like TaxBuddy simplify these processes using AI-driven tools and e

A domicile certificate is a crucial document that certifies a state's citizens' place of abode. For this reason, getting a copy of this document is crucial since it's required when using a number of government services. Applying for government jobs, state quota admissions, scholarships, and welfare programs all require it. Maharashtra residents can apply for a domicile certificate online using the Aaple Sarkar portal or in person at the offices of the Tehsildar, Sub-Divisiona

The Rent Control Act in India outlines the rights and responsibilities of both tenants and landlords. It regulates rent prices, prevents unfair evictions, and ensures fairness in rental agreements. While the federal law has been around since 1948, each state has crafted its own version, adding rules that reflect the specific needs of its communities. It is important to be aware of tenant protections and landlord rights in the legal structure of rental agreements and the appli

Income overlooked during assessments gets addressed in Sections 147 to 151 of the Income Tax Act. The assessing officer may still assess if they believe that some revenue was disregarded in the Income Tax Return (ITR) , regardless of whether the returns were filed or the evaluation finalized for the same return. This situation is known as income escaping assessment. Section 148A allows taxpayers to present their case on whether an income escaping assessment is necessary. The