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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

Filing Income Tax Returns in India requires precision, compliance with evolving laws, and careful handling of sensitive financial information. While AI tools like ChatGPT can provide general guidance, they lack real-time updates, document validation, and expert review essential for accurate ITR filing. TaxBuddy, on the other hand, combines AI-driven automation with Chartered Accountant oversight, ensuring every return is compliant, secure, and optimized for deductions and ex

Filing an income tax return after receiving a condonation of delay approval follows a specific process under Section 119(2)(b) of the Income Tax Act. This approval allows taxpayers who missed the deadline due to genuine reasons to file their return without facing late-filing penalties. The tax authority’s order acts as a formal clearance to proceed with filing for the relevant assessment year, ensuring compliance and enabling the processing of refunds or carry-forward of los

Pension income in India is taxable under the Income Tax Act, 1961, but several exemptions and deductions ensure financial relief for retirees. The tax treatment differs depending on whether the pension is commuted (received as a lump sum) or uncommuted (received monthly), and whether the individual is a government or non-government employee. The 2025 Union Budget refined these rules further, increasing the standard deduction and simplifying the structure for pensioners. With

ITR-6 is the income tax return form designated for companies under the Indian Income Tax Act, 1961, except those claiming exemption under Section 11 . For Assessment Year 2025-26, the form has been updated with several crucial changes that affect audit compliance, MAT calculations, and disclosure requirements. With new reporting fields, revised due dates, and integration of updated Finance Act amendments, corporate taxpayers must stay informed to ensure timely and error-fre