Ineligible ITC has been claimed in FY 23-24, now in which column should it be reversed in 3B of June 24?

Hi ,

I provide freelance medical writing services to agency. They deducted my TDS under 194 JB and 194C. I filed my ITR 1 and CPC sent me message that defective filing (below is the message). Kindly guide me which ITR it will be applicable

You have filed your income-tax return in form ITR-1. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94M/94S/94C/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-1 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-1.
Probable Resolution
You are being provided with an opportunity to make necessary corrections and file a return of income in the appropriate form so that income and taxes may be determined correctly in accordance with the Income-tax Act, 1961 duly disclosing the complete gross receipts/income reflecting in your form 26AS under the relevant schedules of the ITR. Please note that as per Rule 37BA of the Income-tax Rules, credit of TDS is allowable to the person in whose hands the income is assessable and in the year (AY) in which such income is assessable.

Thanks and Regards
Rajesh

I have to submit several Affidavits and Indemnity bonds for applying for duplicate share certificates. These documents have to be executed on stamp paper. While filling stamp paper, we have to fill in " Consideration Amount". Since duplication procedure does not involve any transactions in terms of sale/purchase, what should be filled against Consideration Amount? Similarly for claiming dividends/share certificates from IEPF portal, we are required to submit the auto generated Indemnity bond on stamp paper. In this case also, no transaction is involved. So what should be the Consideration amount?

ABC company is purchase of Motor CRUISER Vehicle and this Vehicle use in our business for transfer of employees, this vehicles is Taxi Parsing Vehicle.

is ITC of this vehicle available for this company??

or

can we purchase vehicle on the name of authorized person's Wife and show it as a business of Renting vehicle.

Hey. I just cleared my CA intermediate and going on for articleship but want to do a side course till my finals … so should I go for actuarial science ? Is it a good combination? And need details about actuary

Dear Sir
For NRI , we are filing Income Tax through ITR 2 ,

We have details of interest earned from NRO Account , which is reflected in 26AS Traces .

Do we also need to show the Interest Earned through NRE Account , if Yes then under which section it should be shown

Seek Guidance

Thanks

Sir
If updated return becomesinvalid then department should consider last valid return which was revised return in my case. What if department is saying that they will consider only latest return which was updated return which went invalid. I do not want to file another updated return. They are treating as no return filed for that assessment year. What can I do now

We have just now paid our ESIC Contribution through internet banking. The amount debited from our bank account but is esic website it is still showing unpaid. Please suggest what to do now.

Dear Sir,

Received HRA Rs.600000/- PA in Hyderabad city

but paid actual rent Rs. 25000 for self living and 9000/- rent paid for his parents, what is exemption to be take in this scenario.

Please confirm

In 2021, Inventory was lost due to floods, and entry was made in the books of accounts - insurance claim receivable debit and credit to COGS/ Purchase accounts. Now insurance claim received which was less than the actual amount recorded in books. Instead of recorded as loss on stock / Bad debts should we charged to Purchase accounts? If yes any reference or case laws?