In assessment year 201516 AO found that assessee has claimed tds refund of rs 2 lacs which is actually pertian to income disclosed in return for AY 201415 and hence disallwed this tds credit of rs 2 lacs and invoke penalty u/s271(1)(c).Assessee explained to AO that deductor deduct tds in AY 1516 instead of AY 1415 and hence he claimed tds in AY 1516.
AO advice him to pay taxes so he will drop penalty proceedings and file rectification u/s 154
Now what assessee should do?
Can he file rectification u/s 154 for AY 1415 and claim the refund and pay taxes?
Should he file an appeal against penalty order?
Does claiming of tds receivable amount to concealment of income?any case laws is avilable

HELLO, I M A COMMISSION AGENT(NOT A INSURANCE AGENT) . SO PLS TELL ME WHAT ITR SHOULD I FILL IN FY 2017-18. I PREVIOUSLY FILL ITR 4S AND TAKE 44AD BENEFITS BUT FOR THIS YEAR I M CONFUSED PLS HELP ME..........................

Dear Sir/Mam Plz tell me Can uncle (mausa) give gift to our nephew (bhanja) or not. Means any amount by way of cheque,NEFT or RTGS, and It is exempt or not..

what is arise in India??

What is accrue in India??

Is there difference

how much tax is payable for individual trader doing currency trading under section 44AD

Assesse used commercial property for his own business purpose and charges depreciation on it as per section 32. Suppose that assesse has used the property for the part of the year and thereafter let out for rent. Will depreciation be allowed in such case for the part of the year for which assesse used the property for his own business?

I m a post office agent how fill income tax refund.....which i had from tds......pls help as quickly as possible

Recently i have joined an organization (Firm 1) who outsourced the entire recruitment process to another organization (Firm 2). I have quoted 1.25 Lakh per month towards my fee for the services. I am on the payrolls of firm 2 but my services are for the firm 1. Firm 2 receives 15 % commission on my salary which is exclusive of the quoted amount. I would like to know how much of the quoted amount will fall into "TDS". Normally as a contractual employee, i am of an opinion that 10% of the Remuneration will fall under TDS. Kindly confirm

I have received a notice from IT department for having filed defective return for AY 2017-18. The notice says: Error Code 86
As per Section 44AD(6) of the Income Tax Act, 1961, the provisions of Sec.44AD are not applicable to – (1) persons carrying on professions that are referred to in Sec.44AA(1), (2) persons earning income in the nature of commission or brokerage, and (3) persons carrying on any agency business.As seen from the return of income filed, the nature of business code mentioned is 00301 General commission Agents, which falls in the categories mentioned above. Hence, the provisions of Sec.44AD are not applicable, in your case.

Possible resolution: As the provisions of Section 44AD are not applicable, in your case, the claim of computing profits and gains of business on presumptive basis, under this special provision is not allowable. Hence, the above defect has to be corrected by way of computing the profits and gains of business under the normal provisions and not under Sec.44AD and offering the same.


I am a Contractor so I put 0505-Contractors-Others & 0301-General Commission Agents
And I got Defective return Error 86 due to 301-General commission Agents.
Now I want to remove 301-General commission Agents as I have no Income under this nature, actually I left commission work 3years back after that to till date I have no income from this.
As I have file ITR4 for Assmnt year 17-18
and also shows income of 6% of gross receipt as digital transaction income.
NOW I could not able to change to itr3 as if I file itr3 than I have to do audit of business.
Please help and suggest what should I do.

Arrears of 4 years peratining to 2010 to 2014 received in the year 2016... Can relief be claimed in belated return u/s 139(5)by 31.03.2018 if original return not filed for the FY 2016-17 ? What if the original return is filed & relief claimed u/s 89 not claimed....can it be claimed u/s 89 in revise return?