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Chapter VI-A of the Income Tax Act provides taxpayers with significant opportunities to reduce taxable income through various deductions. TaxBuddy helps users seamlessly identify and claim these deductions, ensuring every eligible investment, expense, or contribution is utilized effectively. By leveraging AI-driven analysis, personalized recommendations, and automated document tracking, TaxBuddy maximizes tax savings for salaried individuals, freelancers, and business owners

When a tax refund shows as “processed” on the Income Tax portal but does not appear in your bank account, it can be worrying. Such situations often arise due to incorrect account details, mismatches between PAN and bank information, or technical glitches in electronic fund transfers. Resolving this promptly requires understanding the process, verifying bank details, and, if necessary, filing refund reissue or rectification requests. TaxBuddy offers an efficient platform to t

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

Non-Resident Indians (NRIs) earning income in India can claim selected deductions under Chapter VI-A of the Income Tax Act, 1961, to reduce taxable income. While the options are limited compared to resident taxpayers, NRIs remain eligible for key deductions such as Section 80C, 80D, 80E, 80G, and 80TTA. Understanding these allowances is essential to maximize tax savings, avoid penalties, and maintain compliance. Using a reliable tax filing platform like TaxBuddy can stream

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

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

Filing an Income Tax Return (ITR) for multiple sources of income—salary, freelance work, and investments—requires precise reporting and careful aggregation. Accurate declaration ensures compliance with the Income Tax Act, 1961, helps avoid notices or penalties, and enables proper calculation of tax liabilities. With the FY 2024-25 deadline set for September 15, 2025, taxpayers must ensure that all income sources are correctly captured, deductions are claimed appropriately, a

Filing the correct Income Tax Return (ITR) form is crucial to ensure compliance, avoid penalties, and secure refunds without delays....

House Rent Allowance (HRA) is a critical component of salary for many employees, helping reduce taxable income when paying rent....