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Rent deduction under House Rent Allowance (HRA) often hinges on one critical detail: the landlord’s PAN. Tax rules link HRA eligibility to proper documentation, and PAN becomes relevant when annual rent crosses a specific threshold. Most salaried individuals face confusion about when the PAN requirement applies, how to claim HRA without it, and what to do if the landlord does not hold a PAN or refuses to provide one. Clear guidelines exist within the Income Tax Act to help d

FD interest earned by homemakers is fully taxable and must be reported each year, even if the amount is small or not withdrawn. Under the Income Tax Act, interest from fixed deposits falls under “Income from Other Sources,” making accurate reporting essential. Choosing the correct ITR form, reconciling TDS through Form 26AS , and identifying applicable deductions help maintain proper tax compliance. Homemakers must also ensure PAN details, KYC information, and interest certif

Foreign Tax Credit allows resident taxpayers in India to avoid double taxation on income earned abroad by offsetting tax already paid in another country. The process requires accurate reporting of foreign income, filing Form 67 , and submitting supporting evidence before filing the return . Income earned outside India must be declared in Schedule FSI and Schedule TR to compute the eligible credit under Indian tax rules. Each country’s tax payment is evaluated separately, and

Introduction Section 148 of the Income Tax Act is especially important in the complex realm of income tax. This clause gives the Income Tax Department the power to review and reevaluate a taxpayer's previously submitted returns in the event that there is a suspicion that any income has not been assessed. In essence, it's a way for the tax authorities to examine and correct any inconsistencies from a previous assessment that were missed. The Assessing Officer may choose your

When an Income Tax Return shows the status “Processed” but the refund still hasn’t arrived, it usually means the tax department has completed verification and computed the refund, but the credit has not reached the bank account. This delay often arises from incorrect bank details, a mismatch in tax records, or pending verification at the Centralised Processing Centre. Refunds can also be held up due to a failed transaction at the bank’s end, even when everything appears corre

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 mismatches occur when the amount credited by the Income Tax Department does not align with the refund shown in the processed ITR. This usually happens due to errors in TDS claims, mismatches in Form 26AS or AIS, adjustments against outstanding dues, or mistakes in computation made during processing under Section 143(1) . The issue can be corrected through a structured rectification process on the Income Tax Portal, ensuring the correct refund is reissued. Platforms lik

Filing an updated or revised return after an assessment order often raises confusion because the timelines and restrictions under the Income Tax Act are strict. Once an assessment order is completed, the law does not permit filing a revised or updated return for that year. Taxpayers are instead required to rely on rectification options if any error comes to light post-assessment. Understanding these boundaries is essential to avoid invalid filings and unnecessary disputes. Pl

The TDS refund process for NRIs revolves around reconciling tax deducted at source on Indian income with the actual tax liability computed under the Income Tax Act, 1961. Many NRIs experience higher TDS because banks, tenants, or buyers apply fixed rates regardless of taxable thresholds or eligible exemptions. Accurate reporting of income, TDS credits, and bank details plays a central role in ensuring timely refunds. Platforms like TaxBuddy streamline these steps by valida

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