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Filing a revised return can often feel complicated, time-consuming, and prone to errors, especially when dealing with multiple income sources or mismatched TDS entries. TaxBuddy simplifies this process by combining AI-powered automation, mobile-first accessibility, and expert support, ensuring accurate and timely submissions under the Income Tax Act, 1961. Taxpayers can now complete their revised return filings efficiently, with minimal manual effort, while staying fully com

Excess TDS occurs when the total tax deducted at source during a financial year exceeds the actual tax liability of a taxpayer. This often arises due to multiple employers, higher TDS on fixed deposits, or errors in calculation. Claiming a refund for excess TDS is straightforward once the correct procedure is followed, including filing an accurate Income Tax Return (ITR), verifying bank details, and monitoring the refund status. Understanding the step-by-step process helps en

ITR-U , introduced under Section 139(8A) of the Income Tax Act, 1961, allows taxpayers to voluntarily file an updated return beyond the standard deadlines. This mechanism encourages transparent reporting of additional income or correction of errors in previously filed returns, while reducing disputes and litigation. The updated return is distinct from belated or revised returns, focusing solely on disclosing extra income and paying the due tax along with interest. With the ex

A Revised Return under Section 139(5) of the Indian Income Tax Act, 1961, allows taxpayers to correct errors or omissions in their originally filed ITR. It ensures accurate reporting of income, deductions, exemptions, and bank details while staying compliant with tax regulations. Filing a Revised Return helps prevent issues like delayed refunds, notices, or penalties due to misreported income or wrong deductions. Taxpayers can file multiple revisions before the due date, maki

Filing income tax returns accurately is crucial to avoid penalties, ensure correct TDS credits, and claim refunds when eligible. While taxpayers are familiar with the standard ITR, mistakes and omissions can occur, leading to the need for corrections. The Income Tax Act provides provisions like Revised Return and ITR-U to address such situations. Understanding their differences, timelines, and implications is essential to determine which return to file in a given scenario.

Accurate tax filing is crucial for compliance with the Income Tax Act, 1961. Mistakes in your original income tax return can happen, and understanding whether a revised return can be filed after the deadline is essential for all taxpayers. Indian tax law provides structured provisions to correct errors, including revised returns under Section 139(5) and Updated Returns (ITR-U) under Section 139(8A), ensuring taxpayers have options to disclose missed income or rectify mistak

Tracking your income tax refund has never been easier. Without logging into the e-filing portal, taxpayers can instantly check the status of refunds using their PAN and Assessment Year. This method is officially recognised by the Income Tax Department and applies to refunds processed through the “Refund Banker” system. It eliminates the need for portal credentials, making it convenient for individuals facing password issues, portal downtime, or simply seeking a faster check.

The Updated Income Tax Return (ITR-U) allows taxpayers to rectify errors or report omitted income for up to four years from the end of the relevant assessment year. While it is a crucial tool for maintaining compliance and avoiding penalties, taxpayers often wonder if filing an ITR-U also lets them claim a refund. Understanding the distinction between ordinary ITRs and ITR-U is essential to ensure accurate tax filing and proper management of refunds, while adhering to updat

Income tax refunds arise when taxes paid exceed the actual tax liability after deductions and exemptions. Timely filing, accurate income reporting, and validated bank accounts are critical to ensure a smooth refund process. Both salaried employees and freelancers must carefully follow ITR rules and compliance requirements to avoid delays. Using verified platforms like TaxBuddy helps manage filing, e-verification, and refund tracking efficiently, minimizing errors and ensurin

Revised returns under Section 139(5) of the Income Tax Act, 1961, give taxpayers a vital opportunity to correct errors in their originally filed ITRs. Common mistakes, such as incorrect bank account information, unreported income, missed deductions, or filing the wrong ITR form, can all be addressed through this process. Filing a revised return ensures compliance, avoids penalties, and helps taxpayers secure timely refunds. Platforms like TaxBuddy streamline this process, of