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Locating the revised return acknowledgement number is essential for validating a corrected or updated income tax return, especially when filing under the timelines set for FY 2024-25. The number helps confirm that the revised return is successfully submitted and e-verified on the income tax portal. It appears in both the filed returns dashboard and the ITR-V sent to the registered email. Understanding where and how to check this number ensures compliance and prevents issues

Errors in an already filed Income Tax Return (ITR) can occur due to missed deductions, incorrect income details, or wrong bank information. The good news is that under the Income Tax Act, 1961, such mistakes can be corrected without penalties if addressed within the prescribed timelines. Taxpayers can use provisions like revised returns under Section 139(5) , rectification requests under Section 154, or updated returns (ITR-U) under Section 139(8A) to fix these errors. Under

Filing Income Tax Returns (ITR) in India no longer always requires a Digital Signature Certificate (DSC). Most individual taxpayers with simple income sources—like salary, pension, or interest—can file their returns online and e-verify using Aadhaar OTP, net banking, or other digital methods. However, certain taxpayer categories such as companies, LLPs, and those subject to tax audits are still mandated to use a DSC. Understanding these distinctions is crucial to ensure your

The transition from XML to JSON format for Income Tax Return (ITR) filing has redefined how taxpayers in India prepare and submit returns. Starting from Assessment Year (AY) 2021-22, the Income Tax Department shifted to JSON—a lightweight, modern format that ensures faster uploads, reduced errors, and better compatibility with e-filing utilities. While XML served as the foundation for many years, JSON now provides an improved experience, simplifying the process for individua

The Income Tax Department’s e-Filing Portal allows taxpayers to access prefilled ITR forms that automatically include data from their PAN-linked records. This feature simplifies return filing by importing salary, interest, and deduction details directly into the ITR form. It eliminates manual entry errors, ensures consistency with Form 26AS and AIS data, and reduces the time taken for filing. Understanding how to download, review, and verify the prefilled ITR form is essent

Filing Income Tax Returns (ITR) in India no longer always requires a Digital Signature Certificate (DSC). Most individual taxpayers with simple income sources—like salary, pension, or interest—can file their returns online and e-verify using Aadhaar OTP, net banking, or other digital methods. However, certain taxpayer categories such as companies, LLPs, and those subject to tax audits are still mandated to use a DSC. Understanding these distinctions is crucial to ensure your

Residential status under the Income Tax Act, 1961, determines how an individual’s income will be taxed in India. It affects whether global income or only Indian income becomes taxable, making it one of the most crucial steps before filing returns. As per Section 6 of the Act, residential status depends on the number of days an individual stays in India and their past presence over the preceding years. Accurate classification ensures compliance, helps avoid double taxation, an

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

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

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