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Business cash sales and UPI collections are now closely tracked by the Income Tax Department through bank reports, AIS, and payment gateway data. Even genuine business receipts can trigger turnover-linked income tax notices when reported figures do not align with transaction trails. Notices are commonly issued for high cash deposits, large UPI inflows, or incorrect presumptive reporting. These cases are rarely about evasion but about classification, reconciliation, and disclo

Risk management for income tax notices depends on accurate interpretation, timely action, and a safe response strategy that reduces exposure to penalties and further scrutiny. Income tax notices often arise from mismatches in TDS, incorrect reporting, wrong PAN details, or discrepancies in bank information. Understanding the issue raised and replying with precise documentation helps avoid escalation. TaxBuddy simplifies this process by reviewing the notice, identifying risks

Introduction Intraday trading offers a special chance to profit from a share's price changes inside a single day. Intraday trading is sometimes known as day trading, as the name implies. Intraday trading basically entails a trader taking a position in a stock for the duration of the day and speculating on whether the stock price will rise or fall. Leverage is a tool used by intraday traders to increase their possible return on investment by enabling them to invest more than t

Filing Income Tax Returns (ITR) for capital gains from shares and mutual funds requires careful reporting of profits earned from...

The ability to claim a deduction for tuition fees under Section 80C of the Income Tax Act is a common way for parents and guardians to...

Co-ownership of property can have significant implications when it comes to filing taxes and reporting rental income. When multiple...

Tax filing can often feel overwhelming, especially when it involves complex documentation and tight deadlines. For individuals and...

Freelancers and professionals often face unique challenges when it comes to filing their Income Tax Returns (ITR) . With diverse income...

Companies issue debentures, which are long-term financial securities, to raise additional capital from investors. Since it typically...

In India, the sole proprietorship is a particularly popular business structure. Surprisingly, this company model does not require...