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The Income Tax Act, 1961, defines clear provisions for reporting income from multiple house properties. With the latest updates from Budget 2025, taxpayers can now claim up to two self-occupied houses as nil income, simplifying compliance and filing. Understanding the correct ITR form, method of computation, and available deductions ensures accurate reporting and helps avoid notices or penalties. Table of Contents Understanding Income from House Property under the Income Tax

Freelancers and self-employed professionals in India must pay advance tax if their annual tax liability exceeds ₹10,000 after TDS adjustments. Advance tax under Sections 207–219 of the Income Tax Act, 1961 ensures that taxes are paid in instalments throughout the year instead of lump sum at year-end. The process helps maintain consistent revenue flow for the government and prevents last-minute tax burdens for professionals. With the 2025–26 updates, clarity on due dates, calc

Tax planning for FY 2024-25 revolves around using the revised income tax slabs, maximizing eligible deductions, and aligning investments with the latest Budget reforms. The government’s emphasis on a simplified new regime and increased standard deductions offers individuals more flexibility in optimizing their tax liability. By choosing the right mix of exemptions, salary structuring, and investments, taxpayers can significantly reduce their overall tax outgo while ensuring c

Filing an Income Tax Return (ITR) is a mandatory annual process for every taxpayer in India. The choice between using the Government’s e-filing portal and a private platform like TaxBuddy can significantly affect how smooth or stressful that experience becomes. While the Government portal offers a free and secure filing option, it demands manual effort and technical understanding. TaxBuddy, on the other hand, simplifies the process with automation, expert guidance, and mobi

The Indian tax system often leaves even experienced taxpayers with questions—whether about choosing the correct ITR form, claiming deductions, or resolving notices. TaxBuddy’s Schedule-a-Call feature bridges this gap by allowing users to connect directly with qualified tax professionals who offer real-time, personalized advice. This interactive consultation helps clarify doubts, avoid filing errors, and maximise eligible tax benefits. Table of Contents What Is the Schedule-a

Automated ITR filing tools have transformed how taxpayers in India prepare and submit their income tax returns. These intelligent platforms use AI-driven automation, pre-filled forms, and real-time validations to reduce human error and save time. By connecting directly with PAN, Form 16, and Form 26AS databases, they simplify data collection, ensuring accuracy and compliance with the Income Tax Act, 1961. From salaried professionals to freelancers and NRIs, these tools make

Artificial Intelligence (AI) is reshaping how income tax returns are filed in India. Integrated with real-time data analytics and machine learning, AI-driven tax filing systems ensure unmatched accuracy and faster refund processing under the Income Tax Act, 1961. These platforms cross-verify income, deductions, and TDS data from multiple sources such as Form 26AS, AIS, and TIS. As a result, they minimize human error, reduce mismatches, and accelerate verification timelines. T

When an Income Tax Return (ITR) is marked as “processed” but the refund hasn’t reached your account, it signals a gap between approval and credit. The reasons could range from mismatched bank details to verification delays at CPC or NSDL. With the rise of automated e-filing systems, most refunds are credited within weeks — yet a growing number of taxpayers face such delays. Understanding the cause and knowing where to act can help resolve the issue faster. After processing, r

A rejected Income Tax Return (ITR) can disrupt the entire filing process and delay refunds. Rejections typically occur due to errors in personal details, TDS mismatches, or validation issues during e-filing. However, the Income Tax Act, 1961, provides clear mechanisms to correct these errors through rectification under Section 154 or revision under Section 139(5). Understanding the nature of rejection and choosing the correct rectification method ensures smooth compliance and

Incorrect or outdated bank account details can delay or even block income tax refunds. Fortunately, the Income Tax Department allows taxpayers to correct or update their bank information after filing their ITR . Using the e-filing portal, one can revalidate, update, or nominate a new account linked with PAN to ensure refunds are credited seamlessly. The process is entirely online and can be completed before the return is processed. Table of Contents Why Correcting Bank Accoun