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Income tax notices for NRIs generally arise from mismatches in AIS, incorrect reporting of NRE or NRO account income, or missing details related to foreign income that trigger automated alerts under the Income Tax Act 1961. Most notices link back to unreported NRO interest, rental income, capital gains, or remittances that banks and institutions report through SFT. Any inconsistency between AIS and ITR leads to e-campaign messages or scrutiny. Platforms such as TaxBuddy offer

TCS on foreign travel and big-ticket purchases often triggers income tax notices when the amounts reported in Form 26AS, AIS, or ITR fail to match actual remittances or tour package payments. Incorrect declarations in bank forms, wrong TCS claims, or unreported transactions under the Liberalised Remittance Scheme are common reasons for discrepancies. These mismatches prompt notices under Sections 143(1) or 143(2), requiring accurate documentation and timely correction. With r

The e-Proceedings tab on the income tax portal enables taxpayers to respond to notices online without visiting the tax office. It centralises all assessments, scrutiny notices, questionnaires, and communication from the Assessing Officer, allowing timely and organised submissions directly through the portal. The system helps reduce delays, ensures documentation accuracy, and offers a transparent view of pending actions. TaxBuddy enhances this process by guiding users through

Old vs latest ITR mismatches typically arise when the Income Tax Department identifies differences between the information reported in a filed return and the latest data received from banks, employers, or financial institutions. These mismatches often trigger follow-up notices, demanding clarification or correction. The core issue is usually traced to AIS, TIS, or Form 26AS variations that were updated after filing or inaccurately reflected in the original return. Understandi

An AIS mismatch income tax notice is issued when the income reported in the ITR does not align with data available in the Annual Information Statement, Form 26AS, or the Taxpayer Information Summary. With expanded digital reporting and tighter cross-verification, such mismatches have increased sharply in recent years. Interest income, salary discrepancies, capital gains, and high-value transactions are now auto-flagged through analytics. Let’s understand how an AIS mismatch n

Errors in an income tax return often surface only after an Income Tax Department notice, and choosing the correct corrective route determines whether the issue closes smoothly or escalates into penalties and prolonged scrutiny. The core pathways—rectification, revised return, and updated return—serve very different purposes and operate under strict legal timelines. Each mechanism applies to a specific type of mistake, and selecting the wrong one can complicate compliance inst

Interest income non-reporting notices arise when the figures declared in the income tax return do not match the data captured in the Annual Information Statement. Savings accounts, fixed deposits, and recurring deposits are closely monitored through automated reporting by banks, and even small omissions can trigger alerts. As more taxpayers receive notices under Section 142(1) for unreported interest, the focus has shifted to accurate disclosure and pre-filing checks. TaxBud

A growing business almost always hits this phase. Payments from customers are delayed. Orders are increasing but cash isn’t. A new machine could double capacity, but the funds aren’t ready. Or maybe you want to expand into a new city, but the working capital is stretched thin. For many MSMEs, growth doesn’t stop because of lack of ambition. It slows down because capital isn’t available at the right time. That’s exactly why government-backed MSME loans exist. These schemes are

Income tax notices in FY 2024–25 generally arise from mismatched income details, incorrect TDS entries, unreported bank interest, or inconsistent disclosures in AIS, TIS, or Form 26AS. A clean ITR reduces the risk of notices under Sections 143(1), 143(2), 148, or other scrutiny triggers. TaxBuddy prevents these issues by validating every income source, auto-reconciling government-reported data, and highlighting discrepancies before submission. AI-based checks combined with ex

Credit card transactions exceeding ₹10 lakh often trigger alerts in the Annual Information Statement because banks report them under Form 61A. When these figures appear inconsistent with declared income, the system issues a credit card high-value transaction notice. This notice seeks clarification on whether the spending matches the income sources disclosed in the return. Accurate mapping of transactions to salary, loans, or gifts becomes essential to avoid scrutiny. Automate