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GST compliance for online traders has become a non-negotiable obligation, especially for sellers operating on platforms like Amazon, Flipkart, and Meesho, where GST registration is mandatory irrespective of turnover. Marketplaces deduct TDS under Section 194-O and collect TCS under GST, which pushes traders to maintain accurate monthly filings and reconciliations. Rising enforcement, MFA rollout across the GST portal, and tighter scrutiny in 2025 make structured compliance e

Salary mismatch notices are among the most common issues faced by salaried taxpayers. These occur when the salary reported in Form 16, Form 26AS , AIS, or TDS statements does not match the income declared in the Income Tax Return. Even minor discrepancies can trigger notices because the Income Tax Department compares employer filings, bank entries, and payroll records with the taxpayer’s return. Platforms like TaxBuddy help resolve these mismatches by identifying inconsiste

Section 194R requires a business to deduct 10% TDS when providing benefits or perquisites to a resident if their value crosses ₹20,000 in a financial year. The rule covers cash, kind, or mixed benefits and ensures that incentives, gifts, vouchers, travel perks, and commercial advantages are properly reported as taxable income. The responsibility lies with the person providing the benefit, not the receiver, which broadens the tax net and reduces the possibility of unreported

Form 26AS is the primary record the Income Tax Department uses to verify every tax credit linked to a PAN—TDS, TCS, advance tax, and self-assessment tax. When any of these entries appear incorrect, missing, or mismatched, the return may face delays, reduced refunds, or automated adjustments under section 143(1). Most discrepancies arise due to wrong PAN entries, inaccurate challan details, or deductors failing to file updated TDS statements. Correcting these entries early en

Smart tax planning before March 31, 2025, requires timely action across investments, deductions, advance tax payments, and compliance updates. Revised tax slabs, a higher basic exemption limit of ₹4 lakh, updated TDS/TCS rules, extended ITR-U timelines, and mandatory PAN/Aadhaar-based KYC norms all influence how much tax remains payable at year-end. Strategic moves—such as completing eligible Section 80C and NPS contributions, verifying TDS, preparing for updated return fili

Reporting interest from multiple fixed deposit accounts requires a clear, consolidated approach so the Income Tax Return reflects accurate income and tax deductions. Every rupee of interest from all banks—whether credited quarterly, annually, or on maturity—must be combined and shown under the correct income head. Mismatches between bank data, AIS, and Form 26AS often trigger tax notices, making proper reporting essential. Correct disclosure ensures smooth processing, prevent

Filing an income tax return for pension income combined with savings account interest requires clarity on how these two income streams are taxed under the Income Tax Act for FY 2024-25. Pension is treated as salary income, while savings interest falls under income from other sources, and both must be reported accurately. Seniors can also access additional deductions such as Section 80TTB, which reduces taxable interest income. Selecting the correct ITR form, understanding ex

The TDS refund process for NRIs revolves around reconciling tax deducted at source on Indian income with the actual tax liability computed under the Income Tax Act, 1961. Many NRIs experience higher TDS because banks, tenants, or buyers apply fixed rates regardless of taxable thresholds or eligible exemptions. Accurate reporting of income, TDS credits, and bank details plays a central role in ensuring timely refunds. Platforms like TaxBuddy streamline these steps by valida

Form 26AS is the tax credit statement that records TDS, advance tax, and self-assessment tax reported against a PAN. Any mismatch between Form 26AS and documents like Form 16 or AIS can lead to refund delays, defective return notices, or incorrect tax calculations. Identifying inconsistencies before filing the return ensures smooth processing and prevents unnecessary tax scrutiny. A quick review of tax credits, deduction entries, and reported income helps eliminate errors t

Form 26AS acts as one of the most reliable tax documents for anyone preparing to file an Income Tax Return. It brings together every tax credit linked to a PAN, such as TDS, TCS, advance tax, and self-assessment tax. Since the TRACES system remains the official source for this information, downloading Form 26AS correctly ensures that tax filing happens without mismatches or refund delays. Whether the goal is to confirm TDS deductions, verify tax payments, or reconcile incom