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Foreign Tax Credit allows resident taxpayers in India to avoid double taxation on income earned abroad by offsetting tax already paid in another country. The process requires accurate reporting of foreign income, filing Form 67 , and submitting supporting evidence before filing the return . Income earned outside India must be declared in Schedule FSI and Schedule TR to compute the eligible credit under Indian tax rules. Each country’s tax payment is evaluated separately, and

Tracking a rectification request on the Income Tax Portal has become significantly easier after the 2025 system enhancements that now allow both CPC-processed and AO-processed rectifications to be monitored online. The portal displays real-time updates regarding errors corrected under Section 154 of the Income Tax Act, 1961, ensuring clarity on whether a request is submitted, in progress, completed, or rejected. With the upgraded dashboard and streamlined navigation, taxpaye

Refund mismatches occur when the amount credited by the Income Tax Department does not align with the refund shown in the processed ITR. This usually happens due to errors in TDS claims, mismatches in Form 26AS or AIS, adjustments against outstanding dues, or mistakes in computation made during processing under Section 143(1) . The issue can be corrected through a structured rectification process on the Income Tax Portal, ensuring the correct refund is reissued. Platforms lik

Filing an updated or revised return after an assessment order often raises confusion because the timelines and restrictions under the Income Tax Act are strict. Once an assessment order is completed, the law does not permit filing a revised or updated return for that year. Taxpayers are instead required to rely on rectification options if any error comes to light post-assessment. Understanding these boundaries is essential to avoid invalid filings and unnecessary disputes. Pl

Errors in income tax returns are common, and the Income Tax Act provides two specific ways to correct them: revised returns and rectification requests. Both serve different purposes and apply in different scenarios, depending on the type of error and when it is discovered. Revised returns help correct missing income, wrong deduction claims, incorrect personal details, or even mistakes in the ITR form used. Rectification applies only to clear, apparent errors found in the proc

The belated ITR filing last date for FY 2024-25 is December 31, 2025, and this deadline applies to anyone who misses the original due date, which was extended to September 15, 2025 for most non-audit taxpayers. A belated return lets taxpayers file after the due date, but it comes with late fees, interest, and certain restrictions. Refunds may get delayed, losses may not be carried forward, and penalties under Section 234F can go up to ₹5,000. Platforms such as TaxBuddy pro

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

Refunds credited twice by the Centralised Processing Centre (CPC) typically occur due to system glitches, duplicate processing, or mismatches in tax calculations under the Income Tax Act 1961. This situation can place taxpayers at risk of future demand notices, rectification orders, or penalty exposure if not handled correctly. Understanding why the duplicate refund occurred and how to report it promptly is essential, as CPC Bengaluru now has the authority to reverse excess r

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

Interest calculation becomes important when advance tax paid during the year is later adjusted against the final tax refund. The Income Tax Act uses specific rules under Sections 234B, 234C, and 244A to compute interest depending on whether the taxpayer paid excess advance tax, paid it late, or paid less than the required amount. Understanding these adjustments helps avoid unexpected interest liability and ensures accurate refund expectations. Many salaried taxpayers use pla