One stop for everything related to taxes,
Our Blogs

The GST return filing calendar for 2025–26 plays a critical role in helping businesses stay compliant with monthly, quarterly, and annual deadlines under the CGST Act. The schedule covers major forms like GSTR-1 , GSTR-3B , CMP-08, GSTR-4, and GSTR-9/9C, each carrying specific due dates based on turnover and the QRMP scheme. Recent changes, such as auto-locking of GSTR-3B from July 2025 and multiple extensions issued by CBIC, make timely compliance essential. Automated remind

Advance tax underpayment under Sections 234B and 234C leads to interest charges when total liability exceeds ₹10,000 and required installments are missed or delayed. Accurate calculation depends on identifying shortfalls, mapping payments to statutory deadlines, and determining the correct period for interest application. Most notices arise due to gaps between expected tax payments and reported credits in Form 26AS or missed installments. TaxBuddy automates this computation

The QRMP scheme under GST allows eligible small businesses with a turnover up to ₹5 crores to file GSTR-3B quarterly while paying tax monthly, easing compliance without disrupting cash flow. Designed to reduce routine filing load, the scheme uses structured monthly payments through PMT-06 and optional IFF uploads to help buyers claim timely ITC. For many small businesses, QRMP becomes a practical way to stay compliant while focusing more on operations. Platforms such as TaxBu

Input Tax Credit forms the backbone of GST compliance, allowing businesses to offset taxes paid on purchases against their tax liability. The credit remains available only when strict conditions under Section 16 are met and all supplier invoices match government systems like GSTR-1, GSTR-2B, and the Invoice Management System. Frequent mismatches, late filings, or supplier non-compliance can block credits and increase tax outflow. With tighter restrictions introduced from 2025

Bank account errors are among the most common reasons for income tax notices, refund failures, and unexpected demands under sections like 139(9) and 143(1) of the Income Tax Act 1961. A single mismatch in IFSC, account number, pre-validation status, or PAN linkage often disrupts refund processing and triggers automated adjustments during ITR processing. When the system cannot credit the refund, it may issue a rectification request or convert the failed refund into a demand. P

AIS “Other Information” items often trigger unexpected income tax notices, even when reported income appears accurate. These data points include bank account opening details, KYC mismatches, dormant accounts, foreign assets, or cash-related disclosures reported by third parties. Many taxpayers overlook these entries because they do not directly reflect income figures. The Income Tax Department relies on this information to cross-check compliance, leading to notices under Sect

Income tax notices for senior citizens often arise from mismatches in pension reporting, interest from multiple bank FDs, high-value transactions, or incomplete AIS disclosures. Automated systems detect even minor differences between reported income and data from banks or pension authorities. This creates stress for retirees who rely on predictable financial routines. Clear rules exist for senior citizens and super senior citizens, yet many still face notices due to overlooke

Corporate ESOPs and bonuses often lead to income tax confusion for employees, especially when perquisite taxation, capital gains, or salary mismatches trigger notices from the Income Tax Department. Errors usually arise due to differences between Form 16, AIS, and actual reporting in the ITR. ESOP taxation happens at multiple stages, while bonuses are closely monitored through TDS data. Without proper reconciliation, even genuine income disclosures can result in scrutiny. Pla

Bulk cash deposits made after selling a property often attract the attention of the Income Tax Department. These deposits are tracked through banking and reporting systems and matched against income tax returns to verify whether the source of funds has been properly disclosed. When the numbers do not align, notices are issued seeking clarification. Such situations are common after property transactions, especially where sale proceeds are received partly or fully in cash. Addr

Capital losses appearing in AIS but missing from the filed ITR often trigger mismatch notices because the tax department treats unreported entries as potential discrepancies in capital gains disclosure. When AIS reflects sale transactions from equities, mutual funds, or other capital assets, but the ITR does not incorporate the same details, the system flags the inconsistency. This situation is common when taxpayers misreport loss-making trades or assume losses need not be de