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Filing TDS returns online ensures transparency, compliance, and timely credit of taxes deducted at source. Every deductor, whether an employer, business, or individual, must report tax deductions accurately using the Income Tax Department’s e-filing portal. The process involves registration, preparation, validation, and electronic submission of quarterly statements. The Income Tax Department has refined its e-filing system for FY 2025-26, making it easier for deductors to com

Section 194H of the Income Tax Act, 1961 governs the deduction of tax at source on commission or brokerage payments made to residents. It ensures that income earned through intermediary services is reported accurately and taxed at the source itself. From 1 April 2025, the threshold limit has been raised to ₹20,000 and the TDS rate reduced to 2 percent, simplifying compliance for businesses and individual payers. TaxBuddy helps taxpayers understand such provisions and stay c

Section 194N of the Income Tax Act regulates cash withdrawals beyond prescribed limits to promote transparency and discourage unaccounted cash transactions. Introduced to drive the shift toward digital payments, this section requires banks, co-operative societies, and post offices to deduct TDS when withdrawals exceed ₹1 crore annually. Budget 2025 has refined thresholds, exemptions, and compliance processes, making it vital for both individuals and entities to stay informed

When a property transaction in India exceeds ₹50 lakhs, the buyer must deduct tax at source before making payment to the seller. This deduction, governed by Section 194IA  of the Income Tax Act, ensures tax compliance in high-value real estate transactions. The rule applies to residential and commercial properties, excluding agricultural land. By mandating TDS on such sales, the government ensures transparency and curbs tax evasion in real estate deals. Table of Contents Unde

Missed claiming deductions like  80C , 80D , or 80G  in your income tax return? The Income Tax Act, 1961 allows taxpayers to correct such omissions by filing a revised return under Section 139(5). This ensures you can still claim eligible deductions, correct income details, or update bank information before the assessment year ends. Filing a revised ITR helps maintain accurate compliance, minimizes refund delays, and prevents avoidable penalties — making it essential for anyo

Form 10-IEA is a key filing document under the Income Tax Act that enables taxpayers to choose or change between the old and new tax regimes. It provides an official mechanism for declaring regime preference, ensuring the choice is valid for the financial year. Introduced to bring transparency and flexibility, this form is especially crucial for individuals and businesses with professional or business income who wish to opt out of the default new regime or re-enter it later.

Capital gains tax on mutual funds is determined by how long the investment is held and the type of fund—equity or debt. The Income Tax Act, 1961, categorizes these gains into short-term and long-term, each attracting distinct tax rates. Budget 2025 has introduced clarity on holding periods, tax slabs, and exemption limits, making compliance easier for investors. With automation-led tax filing platforms like TaxBuddy , reporting capital gains has become simpler and more accur

Section 194J of the Income Tax Act, 1961, mandates the deduction of tax at source (TDS) on payments made for professional and technical services, royalties, and director remuneration. The provision ensures timely tax collection from service-based income such as legal, medical, accountancy, and consultancy fees. Applicable to both individuals and businesses, this section plays a vital role in maintaining transparency and compliance in professional transactions. It is essential

Rental income in India is taxable under the head “Income from House Property” as defined by the Income Tax Act, 1961. To ensure compliance and minimize tax liability, it’s crucial to report it accurately in your Income Tax Return (ITR). Misreporting or ignoring this income can invite penalties and scrutiny. With recent updates under Budget 2025, taxpayers can claim deductions for municipal taxes, standard deductions, and home loan interest to optimize taxes efficiently. Platf

Loss from house property is a common scenario for taxpayers with home loans or multiple properties, especially when the interest payable exceeds rental income. The Income Tax Act, 1961 allows taxpayers to set off such losses against other heads of income, reducing the overall tax burden. However, the extent of this adjustment depends on the tax regime chosen and the nature of the income involved. With updates in the Income Tax Bill 2025, the rules for set-off and carry-forwar