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Non-Resident Indians (NRIs) earning income in India can claim selected deductions under Chapter VI-A of the Income Tax Act, 1961, to reduce taxable income. While the options are limited compared to resident taxpayers, NRIs remain eligible for key deductions such as Section 80C, 80D, 80E, 80G, and 80TTA. Understanding these allowances is essential to maximize tax savings, avoid penalties, and maintain compliance. Using a reliable tax filing platform like TaxBuddy can stream

Filing ITR-2 online for AY 2025-26 requires careful preparation, accurate reporting of income sources, and proper bank account validation. Individuals and HUFs with capital gains, multiple properties, foreign assets, or directorships must follow the correct process to ensure smooth filing and timely refunds. This guide provides a detailed, step-by-step overview, covering all schedules, bank account sections, e-verification methods, and common issues, while highlighting how se

Filing an Income Tax Return (ITR) for multiple sources of income—salary, freelance work, and investments—requires precise reporting and careful aggregation. Accurate declaration ensures compliance with the Income Tax Act, 1961, helps avoid notices or penalties, and enables proper calculation of tax liabilities. With the FY 2024-25 deadline set for September 15, 2025, taxpayers must ensure that all income sources are correctly captured, deductions are claimed appropriately, a

Choosing the right tax regime while filing Income Tax Returns (ITR) in India can significantly impact your tax liability. The old tax regime allows multiple exemptions and deductions, whereas the new tax regime offers lower rates and simplicity but restricts most deductions. Understanding which regime benefits you requires evaluating income, investments, eligible deductions, and filing flexibility. TaxBuddy’s mobile app simplifies this process by comparing liabilities under

Income tax notices are official communications sent by the Income Tax Department to taxpayers regarding discrepancies, verification, or...

Hindu Undivided Families (HUFs) offer a structured way for families to pool resources, split incomes, and claim distinct tax deductions....

Income tax planning is an essential part of financial management, and understanding the differences between the old and new tax regimes...

Section 80D of the Income Tax Act provides significant tax benefits to individuals who pay premiums for health insurance policies for...

Paying for higher education can be a significant financial burden, but the Income Tax Act provides relief through deductions on education...

Saving tax is a priority for many taxpayers, but investing in ELSS is not the only way to reduce taxable income. Various...