Here is an individual assessee senior citizen aged 89 y.o. He has received Pension arrears of Rs.291125 pertaining to F.Y 2013-14.

As you can see in the merged image below of "10E FORM" a TDS of Rs.17018 [as shown in 26AS] was deducted on FD's Interest income in F.Y. 2013-14. [image link provided below]

He didn't filed ITR for A.Y. 2014-15, as a result such TDS amount is with IT Dept.

In form 10E :-

2) Total income of the previous year is = 170180

3) Arrears received 291125

4) [Previous year 2)+ arrear 3)] = 461305

5) Tax on Total income of previous year (2) = Rs. 0

⁉️Now the question is for column no. (6)

🤖The system is calculating tax as Rs. 19,704

🧠But if we take TDS in account 17,018 and subtract it by 19,704 tax is reduced to Rs.2686.

Out of these two options which one is correct & why do you think so ? Any reference with regards to particular section & rules which justify such reasoning & answer ? Kindly enlighten this case.

Case Photo link :-

https://jumpshare.com/share/58qe00hY7hAah0CSpN9K

i purched swiggy unlisted share at 50/- per share early 2015, after ipo today i sell at 249/- per share 500 shares.
tell me Capital gain.

Respected Sir,
Please guide me regarding article ship exemption as I was student of ICAI registered under previously PE-II in 2005 & in IPCC in 2012 (conversion entry) Course but due to some issue at that time I can't complete course but now I am interested and want to continue CA course with my service in Govt Organisation in the Finance and Accounts Dept. working since last 9 years. I also have an experience of finance and account field after completion of my graduation in Private organisation BASIX/Shriram Chits/CA Office with experience certificates in hand. Please aware me about the procedure to get exemption for article ship by considering my experience in finance and accounts/audit/taxation after graduation

Salary and pension received from Asian Development Act is exempt under UN Privileges and Immunities Act and till last year we used to show under OTHER EXEMPT INCOME. But for this year tax return they have removed the option of other exempt and we have to select section respective section 10.But I do not find specific section under 10.
My querry is how to show this exempt income in this year return?

Sir, what is BIS Certificate and how it can be received ?

Hi Experts,
I am currently in RNOR Status. I have been investing in Indian Growth Mutual Funds (No Income generated as of yet) from past 1 Year. The source of the investments are as below
1. My own Income
2. My In Laws FD Interest Income (FD were created as gift from us from foreign)
3. My Foreign savings

can you tell me best approach to report it ?
1. As I am in RNOR no need to report it as govt gives us time to transfer money
2. Create Gift Deed every year
3. Report in Schedule Exempt Income in ITR Filling

Appreciate your advice.

Thanks,

For issuing notice u/s 143(2) for AY 25-26 30th June, 2026 was the last date ?

Dear Sir,
Please share notification no about IMS mandatory from 1st July 2026.

Regards
Nitin Khaire

i bought reliance in 3 lots, how to calculate long or short term as fifo may give more than 1 date right?

example - 3 bought reliance ,
then 2 sold,
then 6 bought reliance,
then 5 sold.

for this 5 sold, 2 fifo dates will come. 1st lot date and 2nd lot date.
then how to calculate period of holding?

my view--> take any date in fifo to calculate period of holding (long or short term).

As I am trying to generate revised Form 16A, the IT portal is showing correction return (Form 27Q) filed till 27th May. But I filed latest correction statement on 20 June and TRACES portal shows the status as processed without defaults.
Query: Is it normal for processing time to be this long (last TDS return was revised on 20 June) on income Tax portal.
I need it because it will have Provisional Receipt Number that is required to be mentioned for generating revised Form 16A.