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Missing capital gains while filing an income tax return can lead to inaccurate reporting and unnecessary scrutiny. Fortunately, the Income Tax Act, 1961, allows taxpayers to correct such errors through a revised return under Section 139(5). This provision enables individuals to include omitted capital gains, ensuring that income statements reflect accurate details and compliance remains intact. With the government’s latest updates for AY 2025-26, taxpayers now have a more str

The transition from XML to JSON format for Income Tax Return (ITR) filing has redefined how taxpayers in India prepare and submit returns. Starting from Assessment Year (AY) 2021-22, the Income Tax Department shifted to JSON—a lightweight, modern format that ensures faster uploads, reduced errors, and better compatibility with e-filing utilities. While XML served as the foundation for many years, JSON now provides an improved experience, simplifying the process for individua

The Income Tax Department’s e-Filing Portal allows taxpayers to access prefilled ITR forms that automatically include data from their PAN-linked records. This feature simplifies return filing by importing salary, interest, and deduction details directly into the ITR form. It eliminates manual entry errors, ensures consistency with Form 26AS and AIS data, and reduces the time taken for filing. Understanding how to download, review, and verify the prefilled ITR form is essent

Filing Income Tax Returns (ITR) in India no longer always requires a Digital Signature Certificate (DSC). Most individual taxpayers with simple income sources—like salary, pension, or interest—can file their returns online and e-verify using Aadhaar OTP, net banking, or other digital methods. However, certain taxpayer categories such as companies, LLPs, and those subject to tax audits are still mandated to use a DSC. Understanding these distinctions is crucial to ensure your

ITR filing has become simpler and smarter in 2025, thanks to feature-rich mobile apps that combine automation, expert support, and government integration. These apps not only fetch Form 16 and AIS data automatically but also provide real-time guidance, ensuring 100% compliance and zero errors. Whether you are a salaried individual, a freelancer, or an NRI, the best ITR filing apps in India now make tax filing possible anytime, anywhere – directly from your smartphone. Table

The taxability of agricultural land in India depends on its classification as rural or urban. While rural agricultural land enjoys full exemption from capital gains tax, urban agricultural land is treated as a capital asset under the Income Tax Act, 1961. The sale of such land can attract short-term or long-term capital gains tax depending on the holding period. However, various exemptions and reliefs, including those under Sections 10(37) and 54B, allow taxpayers to reduce o

The Income Tax Act, 1961, defines clear provisions for reporting income from multiple house properties. With the latest updates from Budget 2025, taxpayers can now claim up to two self-occupied houses as nil income, simplifying compliance and filing. Understanding the correct ITR form, method of computation, and available deductions ensures accurate reporting and helps avoid notices or penalties. Table of Contents Understanding Income from House Property under the Income Tax

Freelancers and self-employed professionals in India must pay advance tax if their annual tax liability exceeds ₹10,000 after TDS adjustments. Advance tax under Sections 207–219 of the Income Tax Act, 1961 ensures that taxes are paid in instalments throughout the year instead of lump sum at year-end. The process helps maintain consistent revenue flow for the government and prevents last-minute tax burdens for professionals. With the 2025–26 updates, clarity on due dates, calc

The Indian tax system often leaves even experienced taxpayers with questions—whether about choosing the correct ITR form, claiming deductions, or resolving notices. TaxBuddy’s Schedule-a-Call feature bridges this gap by allowing users to connect directly with qualified tax professionals who offer real-time, personalized advice. This interactive consultation helps clarify doubts, avoid filing errors, and maximise eligible tax benefits. Table of Contents What Is the Schedule-a

Automated ITR filing tools have transformed how taxpayers in India prepare and submit their income tax returns. These intelligent platforms use AI-driven automation, pre-filled forms, and real-time validations to reduce human error and save time. By connecting directly with PAN, Form 16, and Form 26AS databases, they simplify data collection, ensuring accuracy and compliance with the Income Tax Act, 1961. From salaried professionals to freelancers and NRIs, these tools make