Your income tax queries answered: File revised returns if AIS is showing additional income
Filing a revised return is crucial to ensure compliance with tax laws and prevent discrepancies, even if there are no tax dues under Section 143. Freelancers earning up to Rs 50 lakh can benefit from presumptive taxation, resulting in no tax under the new regime. Tax deduction for education loan interest is available for up to eight years from the year of repayment.