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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

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.

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

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

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

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

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,

Introduction State governments in India issue ration cards to households eligible to buy food grains at discounted prices via the Public Distribution System (PDS) in accordance with the National Food Security Act. By applying on the official website of the Maharashtra government, residents of Maharashtra can easily obtain a ration card while lounging at home. They can also physically apply for a ration card by going to the ration dealer's closest office. Every year, the Maha