One stop for everything related to taxes,
Our Blogs

An income mismatch in ITR filing occurs when the income declared by a taxpayer does not align with the data available to the Income Tax Department through sources such as Form 16, Form 26AS, AIS, or TIS. Such discrepancies often trigger tax notices, revised return requirements, or delayed refunds. Identifying and resolving mismatches early can prevent penalties and ensure a smooth compliance experience. Table of Contents What is Income Mismatch in ITR Filing Common Causes o

Defective returns under Section 139(9) of the Income Tax Act , 1961, can directly block or delay your income tax refund. When a return is marked “defective,” the Income Tax Department halts processing until errors are corrected. This often occurs due to missing documents, incorrect entries, or non-disclosure of crucial details such as bank accounts. As a result, taxpayers lose access to refunds, deductions, and even carry-forward benefits until a corrected return is filed and

Tax filing in India is becoming faster, smarter, and more reliable with the rise of AI-assisted platforms. In 2025, the key challenge is not just speed but also ensuring error-free compliance with the Income Tax Act, 1961. TaxBuddy addresses this challenge by combining the efficiency of artificial intelligence with the assurance of human expertise. AI handles the data gathering, real-time validation, and auto-calculations, while tax professionals cross-check every return fo

Filing an income tax return (ITR) after the due date is known as a belated return. For business owners and professionals, missing the original deadline can lead to penalties, interest, and restricted benefits. However, the Income Tax Act allows taxpayers to file a belated ITR under Section 139(4). Understanding how and when to file ensures compliance while minimizing losses. This guide explains the complete process, from eligibility and documentation to filing on time throug

Artificial Intelligence is no longer limited to automating tax filing ; it is now transforming how the Indian Income Tax Department manages notices, refunds, and appeals. By analyzing data patterns, cross-verifying financial details, and streamlining compliance, AI ensures faster resolutions and reduces taxpayer stress. These advancements mark a shift from manual interventions to automated, accurate, and transparent processes. Table of Contents Beyond Filing: Answering the Co

Self-filing income tax returns with the help of ChatGPT may appear convenient, but it carries risks that can quickly result in an income tax notice under the Income Tax Act, 1961. Generative AI tools provide general assistance but cannot fully ensure compliance with evolving tax rules, nor can they validate data against authoritative records like Form 26AS or AIS. Recent cases have shown that taxpayers relying solely on ChatGPT missed crucial disclosures or selected incorrect

Conversational AI is reshaping the way finance and taxation function in India. From guiding users through bank account openings to providing real-time tax compliance assistance, AI-powered systems have gone far beyond chatbots. They now deliver financial advice, automate document checks, and minimize human error in filing. In the tax space, platforms such as TaxBuddy have integrated conversational AI to simplify ITR filing , reduce errors, and offer compliance-ready support.

Section 143(1)  of the Income Tax Act, 1961, governs how the Income Tax Department verifies and processes income tax returns (ITRs). The assessment is carried out by the Centralised Processing Centre (CPC) through an automated system that checks for errors, mismatches, and inconsistencies between the taxpayer’s declared data and information available with the department. It ensures accuracy in tax computation, deductions, and TDS credits, while also identifying any refund or

Filing income tax returns for stock market trading and Futures & Options (F&O) income requires an accurate understanding of tax treatment, turnover calculation, and applicable forms under the Income Tax Act, 1961. For FY 2024-25 (AY 2025-26), the Income Tax Department has streamlined compliance for traders by clearly distinguishing between speculative and non-speculative business income. F&O income is treated as business income, taxable at regular slab rates, while delivery-

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