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Receiving an income tax notice can be stressful, but responding promptly and accurately is essential to avoid penalties or scrutiny....

Section 154 of the Income Tax Act, 1961, allows taxpayers to correct mistakes apparent from records in their ITR-1 filings. These errors...

Selecting the correct ITR form is the first critical step in filing your Income Tax Return accurately in India. Using the wrong form can...

How can taxpayers stay ahead of potential tax notices while ensuring their income tax returns are filed correctly? TaxBuddy leverages AI...

Filing ITR-4 under the presumptive taxation scheme offers small business owners and professionals a simplified approach to declare...

The Income Tax Department uses Section 245 of the Income Tax Act, 1961, to automatically adjust outstanding tax dues from previous years...

Choosing the correct Income Tax Return (ITR) form is essential to avoid defective return notices and scrutiny from the Income Tax...

Filing ITR-1 or ITR-2 incorrectly can trigger automatic notices under Section 143(1) of the Income Tax Act. These notices are often...

Section 148 notices often follow errors in ITR-4 filings, signaling that the Income Tax Department believes some income has escaped...

Switching from the old tax regime to the new one can significantly impact overall tax liability, depending on deductions, exemptions, and...