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Form 26AS is the tax credit statement that records TDS, advance tax, and self-assessment tax reported against a PAN. Any mismatch between Form 26AS and documents like Form 16 or AIS can lead to refund delays, defective return notices, or incorrect tax calculations. Identifying inconsistencies before filing the return ensures smooth processing and prevents unnecessary tax scrutiny. A quick review of tax credits, deduction entries, and reported income helps eliminate errors t

With the Income Tax Department introducing the “Discard Return” feature for AY 2023–24 onwards, taxpayers can now withdraw an unverified ITR filed under Section 139(5). This option applies only to revised, original, or belated returns that remain unverified and need correction before submission. Once discarded, the return is permanently removed, allowing a fresh filing within the permitted timelines. This update aims to reduce filing errors and simplify the process of correct

Advance tax payments often create confusion because taxpayers expect instant updates, yet the Income Tax system records these payments through multiple layers that take time to sync. Understanding where and how this information appears ensures that taxpayers can verify their payments confidently and avoid issues during ITR filing . The process involves checking the Annual Information Statement, challan status, and Form 26AS across official government portals. Reliable confir

Schedule 80G is the section in an Income Tax Return where donations made to approved charitable institutions are declared for deduction under Section 80G. The details entered in this schedule influence the deduction amount and directly impact taxable income. Accurate reporting ensures the donation is valid, eligible, and supported with proper documentation, especially under the old tax regime. With increased scrutiny and mandatory 80G verification norms, precise entry becomes

Section 80TTA allows a deduction of up to ₹10,000 on interest earned from savings bank accounts, and this benefit can be claimed directly inside ITR-1 under the Chapter VI-A deduction schedule. The rule applies to individuals and HUFs with interest income from savings accounts in banks, post offices, or cooperative societies. Interest from fixed deposits or recurring deposits is not covered under this section. Senior citizens use Section 80TTB instead. Accurate reporting of

Choosing between the old and new income tax regimes for FY 2024-25 depends on tax slabs, available deductions, and overall taxable income. The new regime offers lower slab rates with limited deductions, while the old regime retains popular exemptions like 80C, 80D, HRA, LTA, home loan interest, and standard deduction. Senior citizens also receive higher exemption thresholds under the old structure. The comparison chart for FY 2024-25 helps taxpayers understand differences in

Income tax refunds sometimes appear as “credited” on the CPC portal but fail to show up in bank statements, leaving taxpayers confused about what went wrong. The issue usually stems from incorrect bank details, PAN–bank mismatches, or delays in interbank settlement systems. With the latest refund rules, pre-validated bank accounts and correct IFSC details are essential for timely credit. Understanding these reasons helps identify whether the problem lies with the Income Tax D

Refund reissue requests often get denied when bank details fail validation, TDS entries do not match the Income Tax Department records, ITR verification is incomplete, or documents supporting deductions are missing. Denial simply means the system could not process the refund due to mismatches or unresolved issues. The Income Tax portal allows taxpayers to correct details, file rectification requests, or raise a grievance to get refunds reprocessed. Most cases are resolved by

Reporting savings account interest income accurately is essential for ensuring full compliance with the Income Tax Act and avoiding mismatches during return processing. Savings interest is taxable and must be disclosed even when banks do not deduct TDS or when the income falls below the deduction limit. The Income Tax Return requires this income to be reported under the appropriate section, supported by bank statements and interest summaries. With updated thresholds and clea

An income tax notice for non-disclosure of income is issued when the Income Tax Department identifies earnings that do not appear in your filed return. Such mismatches often arise from bank deposits, AIS data, Form 26AS , TDS records, or high-value financial transactions flagged through automated reporting systems. The goal of the notice is to correct discrepancies, seek clarification, or request additional disclosure to ensure accurate assessment. Understanding the reason be