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Pension Income Taxation Rules and Exemptions in India
Pension income in India is taxable under the Income Tax Act, 1961, but several exemptions and deductions ensure financial relief for retirees. The tax treatment differs depending on whether the pension is commuted (received as a lump sum) or uncommuted (received monthly), and whether the individual is a government or non-government employee. The 2025 Union Budget refined these rules further, increasing the standard deduction and simplifying the structure for pensioners. With
Nimisha Panda
Dec 28 min read
ITR-7 for Trusts & Charitable Organizations Explained
The ITR-7 form is specifically designed for trusts, charitable and religious organizations, political parties, and institutions engaged in education or scientific research. It serves as the official document for reporting income, claiming exemptions, and ensuring compliance under the Indian Income Tax Act, 1961. With updates in the Union Budget 2025 and the Finance Act amendments, ITR-7 now includes detailed disclosures on capital gains, anonymous donations, and audit-linke
Dipali Waghmode
Dec 29 min read
ITR-6 for Companies: Tax Audit, MAT & Filing Process
ITR-6 is the income tax return form designated for companies under the Indian Income Tax Act, 1961, except those claiming exemption under Section 11 . For Assessment Year 2025-26, the form has been updated with several crucial changes that affect audit compliance, MAT calculations, and disclosure requirements. With new reporting fields, revised due dates, and integration of updated Finance Act amendments, corporate taxpayers must stay informed to ensure timely and error-fre
Asharam Swain
Dec 210 min read
Capital Gains Taxation on Mutual Funds in 2025
Capital gains taxation on mutual funds in India for FY 2024-25 (AY 2025-26) has been reshaped by amendments from Budget 2024 and new rules effective April 1, 2025. The updated structure simplifies how equity, debt, hybrid, and international mutual funds are taxed, refining both the holding period definitions and applicable rates. Investors must now align their strategies with the latest changes to minimize tax outgo and ensure accurate reporting in their income tax returns.
PRITI SIRDESHMUKH
Dec 29 min read
TaxBuddy DIY Filing Guide: File Error-Free Returns in Minutes
Filing an Income Tax Return doesn’t have to be complicated or time-consuming. With TaxBuddy’s DIY Filing platform, taxpayers can complete accurate returns in just a few minutes. The platform’s intelligent system integrates AI-powered checks, automated data extraction from Form 16 and AIS, and guided prompts that simplify every step. Designed under the framework of the Income Tax Act, 1961, it ensures users can file confidently, whether salaried, self-employed, or freelancers
Asharam Swain
Dec 28 min read
TaxBuddy’s Post-Filing Support: Handling Notices Made Simple
Responding to an income tax notice can feel stressful, especially under the new compliance framework introduced by the Income Tax Act, 2025. With faceless assessments and digital-first systems, the process is faster yet more detail-sensitive. TaxBuddy simplifies this entire journey through its post-filing support system — helping taxpayers identify, understand, and respond to notices efficiently. From clarifying notice types to submitting replies through official channels, t
Dipali Waghmode
Dec 29 min read
Best Online Tax Filing Platforms in India for 2025
Finding the best online tax filing platform in India for 2025 depends on a mix of automation, accuracy, and expert support. With the new tax regime updates from Budget 2025 and streamlined e-filing systems, digital platforms now offer faster, error-free, and more secure income tax return filing. Among them, TaxBuddy , ClearTax, and Tax2Win stand out for their ease of use, AI-driven interfaces, and assistance for both salaried and business taxpayers. The government’s own e-fi
Dipali Waghmode
Dec 29 min read
Section 80EEB: Tax Benefit for Electric Vehicle Loans
Section 80EEB of the Income Tax Act, 1961, allows individual taxpayers to claim a deduction of up to ₹1.5 lakh on the interest paid for loans taken to purchase electric vehicles. Introduced through the Finance Act, 2019, this provision supports India’s transition toward sustainable mobility by reducing the financial burden of owning an EV. The deduction applies to loans sanctioned between April 1, 2019, and March 31, 2023, helping early adopters benefit from both cleaner tra
Asharam Swain
Dec 29 min read
What Does “Refund Under Process” Mean on CPC Portal
When an Income Tax Return (ITR) shows the status “Refund Under Process” on the Centralized Processing Centre (CPC) portal, it means that the refund claim has been accepted and is undergoing verification. The CPC team is cross-checking the taxpayer’s data, tax payments, and TDS records before crediting the refund to the verified bank account. This ensures accuracy, prevents fraud, and confirms that the refund amount matches the taxpayer’s entitlement under the Income Tax Act,
PRITI SIRDESHMUKH
Dec 29 min read
How to Avoid Scrutiny Notices by Correct ITR Filing
Avoiding scrutiny notices from the Income Tax Department starts with filing your Income Tax Return (ITR) accurately, completely, and on time. Even small mistakes — like mismatched income data, wrong form selection, or missing verification — can trigger automated scrutiny under the Income Tax Act, 1961. The department uses advanced data-matching systems to flag inconsistencies between your ITR, Form 26AS, AIS, and TIS. To stay compliant and stress-free, taxpayers must ensure
Asharam Swain
Dec 18 min read
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