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Late filing of income tax returns and receiving notices from the Income Tax Department can result in significant penalties and scrutiny....

Receiving an income tax notice can be stressful, confusing, and time-sensitive. TaxBuddy’s expert-driven platform simplifies this process...

Tax compliance in India requires vigilance, as the Income Tax Department can issue notices not just for the current year but also for previous financial years. These notices can relate to reassessments, discrepancies in bank-linked income, or errors in filed returns. Understanding the timelines, types of notices, and the process for responding is essential for avoiding penalties and ensuring smooth compliance. Tools like TaxBuddy provide guided solutions to address these not

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...

Filing an Income Tax Return (ITR) accurately is crucial for compliance and to prevent unnecessary notices from the Income Tax Department....

The Annual Information Statement (AIS) is a comprehensive record of financial transactions reported to the Income Tax Department by...

A defective return notice under Section 139(9) is issued when an income tax return (ITR) has errors, omissions, or incomplete details....

Section 143(1) Intimation is an official communication from the Indian Income Tax Department after processing an individual’s Income Tax...

With the GST system in India constantly evolving, businesses are getting creative with trade discounts and marketing strategies to boost...