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Income tax refund mismatches in India—especially those involving inconsistencies between the Annual Information Statement (AIS) and Form 26AS —often delay refund processing or lead to rejection. These mismatches typically occur when TDS or tax credit details don’t align due to reporting errors, delays, or deductor mistakes. With new CBDT guidelines and recent High Court judgments, taxpayers can now resolve such discrepancies through updated reconciliation processes and digit

Handling a notice for old or unreported income under the Income Tax Act, 1961, requires a clear understanding of what triggered the discrepancy and what the department expects in response. Notices issued under sections such as 142(1) , 143(1), or 147 usually indicate missing income, mismatched data, or incomplete documentation. Identifying the unreported income, checking bank statements, reviewing Form 26AS, and verifying ITR entries become essential before preparing the resp

Section 271B  of the Income Tax Act, 1961, prescribes penalties for taxpayers who fail to conduct a tax audit or submit their audit report within the due date mandated under Section 44AB. The law aims to ensure transparency and timely reporting of financial records for businesses and professionals exceeding the prescribed income limits. Recent updates in Budget 2025 have streamlined these provisions, reinforcing compliance and offering relief for genuine delays. Understanding

Misreporting TDS credits often results in income tax notices under Section 143(1) when the details claimed in an ITR do not match Form 26AS, AIS, or the deductor’s filings. These discrepancies arise from incorrect entries, delays in TRACES updates, or deductor errors, and taxpayers must respond quickly to avoid penalties or refund delays. Understanding why the mismatch occurred, verifying information online, and submitting either a revised return or rectification request help

Missing salary income while filing an income tax return is more common than most taxpayers realise. The Income Tax Department has introduced ITR-U, an updated return mechanism that allows correction of missed or misreported income up to four years after the assessment year. This ensures compliance without penalties, reduces the risk of notices, and helps reconcile TDS mismatches. Taxpayers who overlooked salary income in their original or revised ITR can now report it throu

Delayed income tax refunds have become a common concern for many taxpayers, often caused by mismatched data, pending validations, or processing backlogs on the Income Tax Portal. The quickest way to resolve this issue is by using the e-Nivaran grievance redressal system built into the portal, which allows taxpayers to submit refund complaints and track responses directly from the dashboard. This mechanism provides a structured path to report refund delays, attach supporting d

Income tax notices usually arise from mismatches, missed filings, incorrect claims, or unexplained transactions that the Income Tax Department flags through automated data checks. Most issues trace back to discrepancies between reported income and Form 26AS , high-value bank activity, or errors made while filing ITR . Early detection, proper reconciliation, and accurate documentation play a crucial role in preventing these notices. Digital platforms such as TaxBuddy simplify

Form 26AS is the central record of all taxes deducted or collected under a PAN, and verifying these details is essential before filing an income tax return. Every TDS entry—whether from salary, bank interest, property transactions, or professional payments—must appear correctly in Form 26AS for the refund or tax credit to be approved. Mismatches, missing entries, or incorrect deductor information often lead to delayed refunds, demand notices, or defective return classificati

Errors in an already filed Income Tax Return (ITR) can occur due to missed deductions, incorrect income details, or wrong bank information. The good news is that under the Income Tax Act, 1961, such mistakes can be corrected without penalties if addressed within the prescribed timelines. Taxpayers can use provisions like revised returns under Section 139(5) , rectification requests under Section 154, or updated returns (ITR-U) under Section 139(8A) to fix these errors. Under

Missing capital gains while filing an income tax return can lead to inaccurate reporting and unnecessary scrutiny. Fortunately, the Income Tax Act, 1961, allows taxpayers to correct such errors through a revised return under Section 139(5). This provision enables individuals to include omitted capital gains, ensuring that income statements reflect accurate details and compliance remains intact. With the government’s latest updates for AY 2025-26, taxpayers now have a more str