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Tax planning is most effective when it begins before any investment decision is made. Investments chosen without considering tax implications often result in avoidable liabilities on capital gains, dividends, or maturity proceeds. Under the Income Tax Act, 1961, the timing, structure, and nature of investments directly affect how much tax is ultimately paid. Starting early allows individuals to align investments with available deductions, exemptions, and regime choices, ensur

A scrutiny notice under Section 143(2) often reaches traders when the tax department wants clarity on reported profits, losses, or deductions. These notices commonly arise from mismatches in F&O trades, intraday activity, or inconsistencies between bank entries and declared income. Accurate data reporting is essential because trading incomes have unique tax rules and documentation needs. TaxBuddy supports traders by organising transactional data, validating ledgers, and iden

Filing an Income Tax Return that includes dividend income and capital gains requires selecting the correct ITR form and reporting each income category accurately. Dividend income from domestic companies is fully taxable, and capital gains from shares, mutual funds, and property must be declared under their respective schedules. Proper classification of short-term and long-term gains is essential to ensure correct tax calculation and avoid notice-driven corrections. With upda

Smart tax planning before March 31, 2025, requires timely action across investments, deductions, advance tax payments, and compliance updates. Revised tax slabs, a higher basic exemption limit of ₹4 lakh, updated TDS/TCS rules, extended ITR-U timelines, and mandatory PAN/Aadhaar-based KYC norms all influence how much tax remains payable at year-end. Strategic moves—such as completing eligible Section 80C and NPS contributions, verifying TDS, preparing for updated return fili

FD interest earned by homemakers is fully taxable and must be reported each year, even if the amount is small or not withdrawn.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

Choosing the right ITR filing platform in 2025 requires understanding which service aligns with specific taxpayer needs. Cleartax, Quicko, and TaxBuddy each offer unique advantages for salaried individuals, freelancers, investors, and businesses under Indian tax laws. Features such as AI automation, expert assistance, mobile usability, and post-filing support vary across platforms, making it important to compare their strengths and limitations. TaxBuddy , in particular, stan

Capital gains tax for Non-Resident Indians (NRIs) applies to income earned from selling capital assets located in India, such as property and shares. The latest updates from Union Budget 2025 have refined how these gains are classified, taxed, and reported. With changes in tax rates, indexation rules, and TDS compliance, understanding these provisions is crucial for accurate reporting and timely filing. NRIs must also comply with repatriation and exemption rules under the In

Tax-saving investments under Section 80C continue to be the foundation of smart financial planning for Indian taxpayers in 2025. With the deduction limit capped at ₹1.5 lakh, Section 80C covers a diverse mix of traditional savings and modern market-linked instruments. Each option not only helps reduce taxable income but also contributes to disciplined wealth creation. Understanding the key investment avenues under this section can help individuals choose instruments that mat

Section 44AB  of the Income Tax Act, 1961 mandates certain taxpayers to get their accounts audited by a Chartered Accountant to ensure accuracy and compliance in financial reporting. This audit verifies that income, deductions, and turnover details are correctly reported and align with tax laws. Businesses, professionals, and certain entities exceeding specified turnover or receipt limits must comply with this audit requirement. The provision promotes financial transparency a

Filing an Income Tax Return (ITR)  that includes both salary and capital gains income requires careful selection of the correct form and accurate disclosure of each income type. For Assessment Year 2025-26, the Finance Act 2024 introduced new thresholds, tax rate revisions, and enhanced capital gains reporting requirements. With these updates, salaried individuals earning from shares, property, or mutual funds must ensure compliance with the revised filing rules. Proper class