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Chapter VI-A deductions provide individuals, HUFs, and certain businesses with opportunities to reduce taxable income through...

Startups and LLPs in India are required to file their Income Tax Returns (ITR) annually, irrespective of profits or revenue. This compliance ensures financial discipline, maintains credibility with investors, and keeps businesses eligible for tax benefits such as Section 80-IAC deductions for DPIIT-recognized startups. Filing correctly also prevents penalties, secures the ability to carry forward losses, and ensures compliance with statutory requirements under the Income Tax

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

Salaried individuals in India can now claim a ₹50,000 standard deduction for FY 2024-25, reducing taxable salary automatically without...

Many taxpayers in India overlook eligible deductions under the Income Tax Act 1961, resulting in higher tax liabilities or lower refunds....

Filing income tax returns efficiently requires a clear understanding of available deductions and exemptions. Properly claiming...

Freelancers in India earn income through professional services, multiple clients, or project-based work. Filing taxes correctly is...

TDS mismatch notices are more frequent for ITR forms that handle multiple sources of income or complex financial transactions. Forms like...

Effective investment planning is central to maximising wealth while staying compliant with India’s Income Tax Act 1961. Understanding tax...

Section 80CCD(1B) of the Income Tax Act provides an additional deduction of up to ₹50,000 annually for contributions to the National...