Most people feel a sense of relief once their income tax return is filed. It’s off the checklist, at least in your mind. So when a message arrives saying your return is ‘defective’, the first reaction is usually confusion, sometimes even panic.

For most taxpayers, a refund is not seen as income or a benefit. It’s simply money that should not have been paid in the first place. So when that refund gets delayed, the frustration is understandable. This is where interest on income tax refund b

Delayed income tax refunds are a common occurrence among taxpayers. When you file your taxes correctly and on time, verify your return and then wait weeks or occasionally, months without any action (perhaps even longer). Many taxpayers are unaware th

If you’ve been filing income tax returns for a while, Form 26AS probably feels familiar. For years, it was the single document most people checked before filing, simple, predictable, and limited to taxes paid or deducted. Then AIS was introduced, a

If you have ever looked at your income tax return and paused at two similar looking terms, you are not alone. Most taxpayers, even those who file regularly, get confused between gross total income and total income. On paper they sound almost the same

Selling gold usually happens for a reason. Sometimes it’s planned, sometimes it’s sudden. It could be jewellery that hasn’t been worn in years, or coins bought long ago as an investment. Whatever the situation, people often think about price an

People usually opt for VPF when they want to save more without taking risks. It feels like an extension of EPF, safe and familiar. The confusion doesn’t happen at the time of investing. It starts later, when someone needs money and begins looking i

Family pension usually comes into the picture at a point when financial decisions already feel heavy. It is meant to provide continuity of income, not confusion. Yet, many people are unsure about how it is taxed, mainly because the rules for family p

Uniform allowance is one of those salary components that sounds simple but often creates confusion at tax time. Many employees receive it every month and barely give it a second thought, until they start looking closely at their Form 16. That’s whe

Leave encashment usually comes into focus at a turning point in a career, either when someone retires or decides to move on after years of service. The amount received can feel substantial, which naturally raises one question in almost every case: ho

Medical allowance is one of those salary components that employees usually don’t question. It sits there on the payslip month after month, and most people assume it exists to reduce tax on medical spending. That assumption used to be correct years

If you’ve ever sold shares or equity mutual funds and later sat in front of the income tax return wondering where exactly to report the gains, you’re not alone. This confusion is precisely where the question of what is Schedule 112A usually comes