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Under the Income Tax Act, 1961, taxpayers can carry forward losses such as business, capital gains, or speculative losses to future years, but only if their income tax return is filed within the due date specified under Section 139(1). Filing a belated ITR, which is done after the due date, usually disqualifies these losses from being carried forward. However, losses like house property loss and unabsorbed depreciation remain eligible for carry forward even in a belated retur

Income tax notices usually arise from mismatches, missed filings, incorrect claims, or unexplained transactions that the Income Tax Department flags through automated data checks. Most issues trace back to discrepancies between reported income and Form 26AS , high-value bank activity, or errors made while filing ITR . Early detection, proper reconciliation, and accurate documentation play a crucial role in preventing these notices. Digital platforms such as TaxBuddy simplify

Errors in an already filed Income Tax Return (ITR) can occur due to missed deductions, incorrect income details, or wrong bank information. The good news is that under the Income Tax Act, 1961, such mistakes can be corrected without penalties if addressed within the prescribed timelines. Taxpayers can use provisions like revised returns under Section 139(5) , rectification requests under Section 154, or updated returns (ITR-U) under Section 139(8A) to fix these errors. Under

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

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

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

Income Tax Department notices issued to NRIs often arise from TDS mismatches, foreign income disclosures, bank account reporting gaps, or incomplete documentation submitted during the year. Addressing these notices requires accurate interpretation, timely response, and full compliance with the Income Tax Act 1961. Many NRIs miss critical steps because of distance, unfamiliar procedures, or evolving reporting norms. TaxBuddy offers structured notice support to help NRIs unders