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Income tax refunds are crucial for taxpayers, yet delays are common in FY 2024-25 due to stricter compliance, verification processes, and system checks. Refunds can be stalled because of mismatched bank details, discrepancies in Form 26AS or AIS, outstanding dues, or returns selected for scrutiny. Delays not only frustrate taxpayers but also affect financial planning. Understanding the reasons behind these delays and taking corrective measures can help ensure timely credit o

Income tax refunds are a critical part of tax compliance, yet delays or non-crediting of refunds cause stress for taxpayers. The most common reasons for refund failures include incorrect bank details, mismatches in filing forms, or procedural issues under the Income Tax Act, 1961. Timely verification, accurate form selection, and responding to notices can ensure refunds are credited smoothly. Table of Contents Why Income Tax Refunds Are Delayed or Not Credited Incorrect or M

Filing an Income Tax Return (ITR) without Form 16 is entirely possible. Form 16 is a TDS certificate issued by employers, but it is not mandatory for ITR filing. Taxpayers can use salary slips, Form 26AS, and other supporting documents to accurately calculate their income, claim deductions, and file returns. The Income Tax Act, 1961 allows all eligible individuals to submit returns even without Form 16, provided they maintain proper documentation. Platforms like TaxBuddy sim

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

Employee Stock Option Plans (ESOPs) and Restricted Stock Units (RSUs) are popular forms of employee compensation in India, offering potential wealth creation alongside salary. Filing Income Tax Returns (ITR) for individuals holding ESOPs or RSUs requires careful reporting of perquisites, capital gains, and foreign assets to comply with the Income Tax Act, 1961. Choosing the correct ITR form is crucial to ensure accuracy, avoid penalties, and prevent delays in processing. Ac

Filing income tax returns for complex financial scenarios involves navigating multiple income sources, deductions, and ever-changing rules under the Income Tax Act 1961. Mistakes during self-filing can result in penalties, delayed refunds, or scrutiny by the Income Tax Department. Assisted filing connects taxpayers with qualified professionals and AI-powered platforms, reducing errors, ensuring compliance, and optimizing eligible tax benefits. Platforms like TaxBuddy combin

Freelancers and consultants in India must navigate unique challenges while filing Income Tax Returns (ITR) for FY 2024-25. Unlike salaried employees, their income is not subject to automatic TDS, making accurate reporting, expense tracking, and timely filing essential. Choosing the correct ITR form, maintaining supporting documents, providing bank account details, and understanding deductions under both the presumptive and regular taxation schemes are key to compliance and av

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

A Section 156 Demand Notice is an official communication issued by the Income Tax Department when a taxpayer owes any tax, interest,...

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