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TaxBuddy DIY filing simplifies income tax return filing for individuals with salary-only income under India’s Income Tax Act, 1961. Designed for FY 2024–25 (AY 2025–26), the platform enables salaried taxpayers to file returns accurately without navigating complex tax rules or government portals. By auto-selecting the correct ITR form, pre-filling salary details from Form 16, and guiding users through deductions and verification, the process becomes structured and efficient. F

For FY 2025–26, the new tax regime offers lower slab rates, a higher standard deduction, and tax-free income up to ₹12 lakh through enhanced rebate. Despite these changes, the old tax regime continues to provide better outcomes for salaried individuals whose pay structure includes significant deductions such as HRA, home loan interest, and Chapter VI-A investments. The real advantage now depends less on income level and more on how salary components and deductions are structu

The default new tax regime under Section 115BAC promises simplicity through lower tax slabs, but it removes most exemptions and deductions that salaried employees commonly use. From HRA and LTA to Section 80C and home loan interest, these exclusions significantly alter tax outcomes. Since FY 2024–25, this regime applies automatically unless actively changed, impacting take-home pay for many professionals. Despite revised slabs and enhanced rebates announced in Budget 2025, sa

Certain salary structures continue to deliver lower tax liability under the old tax regime in FY 2025–26 despite the higher rebate threshold and simplified slabs under the new regime. Salaried individuals with significant House Rent Allowance, home loan interest, and eligible investments often see greater tax savings when deductions are fully utilised. For income levels above ₹15 lakh, the benefit of exemptions and Chapter VI-A deductions can outweigh the rate advantage of th

HRA , LTA , and perquisite mismatches in salary deductions often trigger income tax notices when the claimed exemptions do not align with Form 16 , salary slips, or transaction records reported to the Income Tax Department. Most errors stem from incorrect calculations, missing documents, inflated claims, or discrepancies between rent receipts, travel proofs, employer valuations, and bank statements. These are flagged through Section 143(1) intimation or scrutiny notices, requ

Section 115BAC forms the core of India’s new tax regime, designed to simplify taxation by offering lower slab rates in exchange for fewer deductions. Recent updates under the Union Budget FY 2025-26 have significantly changed how taxpayers calculate benefits, especially around the higher standard deduction of ₹75,000 and the increased Section 87A rebate of up to ₹60,000. These changes push the effective tax-free income threshold to ₹12.75 lakh for salaried individuals and pe

Introduction When employees join a company, they are eligible for a number of advantages. One of them is a paid leave benefit that employees can use as a leave encashment in the event that it is not used. The possibility of exchanging unused leaves for cash provides employees with an additional safety net. The employer permits the employee to roll over any unused leave to the following year in such a situation. Instead of taking vacation time, employees can choose to be compe

Filing Income Tax Return (ITR)  without Form 16 is entirely possible under Indian tax laws if other supporting documents are used correctly. Form 16 is a TDS certificate issued by employers that summarizes salary and tax deducted. However, many salaried individuals face delays or non-receipt of Form 16 due to job changes or employer issues. In such cases, alternate documents like salary slips, Form 26AS, bank statements, and investment proofs can help compute taxable income a

When salary income is received from more than one employer in a financial year, the income tax return (ITR) process requires extra attention. Each employer deducts TDS separately, which can lead to double taxation or underpayment if not reported correctly. To ensure accurate reporting, it’s essential to consolidate all salary details, check Form 26AS for tax credits, and file the correct ITR form under the Income Tax Act, 1961. With the help of platforms like TaxBuddy , taxp

Section 10 of the Income Tax Act, 1961, offers valuable exemptions that reduce taxable income for salaried employees. These provisions include allowances, reimbursements, and retirement benefits that ease the financial burden while improving compliance efficiency. Understanding these exemptions is essential during salary structuring, bank account verification, and year-end tax planning. By optimizing these benefits under the correct regime, employees can achieve better in-ha