Error Description
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.

sir, i m a defence personnel(navy)
a) Is sea duty allowance exempted in section 10(14)(ii) for a defence person???
b) There is difference in gross income in form 16 (Mar 23- Feb 24) and form 26AS (Apr 23-mar 24) . Which gross income to be shown in ITR form 16 or 26 AS form??

Dear Sir,
Could you please help me to resolve the error which pop up while validating the ITR 3 in which i am declaring the presumptive income u/s 44ADA and short term capital gain u/s 111A.
the error message popped up was

"Income under business and profession is claimed but gross receipts are not mentioned in profit and loss account. OR Profit shown is less than 50% of gross receipts but details of maintenance of the books of accounts and audit report u/s 44AB in Part A-General are not filled up."
I have shown gross receipts in presumptive income section 61 onwards and shown income more than 50%.
Any one has any idea. Thanks

HUSBUND WHO WAS WORKING IN PVT COMPANY DIED IN JUNE 23 TILL THAT HE RECEIVED SALARY IN HIS AC. AFTER HIS DEATH HIS WIFE RECEIVED GRATUITY/LEAVE ENCASHMENT, EX-GRATIA ON DEATH IN HER BANK AC. COMPANY WAS TAKEN TERM INSURANCE PLAN FOR WHICH 1 CRORE RUPPEES WAS DEATH CLAIM RECEIVED BUT THAT WAS NOT RECEIVED IN BANK AC OF WIFE BUT INSTEAD COMPANY HAS MADE INVESTMENTS IN HER NAME DIRECTLY IN EQUITY SHARES AND MF. GRATUITY, LEAVE ENCASHMENT AND EX-GRATIA WHICH IS RECEIVED IN WIFE BANK IS NEED TO BE SHOWN IN HUSBUND ITR AS INCOME OR IN WIFE ITR? IS TERM INSURANCE CLAIM IS EXEMPT U/S 10 (10) D.

Hi,

I had received a demand notice towards TDS on my house sale in Jan 2024. The sale was executed in Oct 2022. The demand has been erroneously raised, as there are 3 co-owners for the flat and the TDS was paid in my name only, by the buyer's CA. We have submitted a response against said demand, stating that the TDS shown for Seller OR Landlord of Property is deducted under 1 PAN by buyer but there are 3 sellers as per agreement in the equal ratio. The share of capital gain is equally calculated in all 3 files. This is the reason for lower income in computation as compared to 26AS.

However, we have yet not received any reply/resolution to this. What would you advise me to do? Is there a provision to file a revised TDS for this transaction? I was told by the buyer's CA that the date for the same has been crossed already.

Sir
Does CPC directly give invalid order of 143 or first they give defective notice in updated return processing

have given 19 lacs through 2 cheques of Rs 9.50 lacs each as gift to my son who is major. He has no other income except interest received from banks. Interest income is below 3 lacs. No TDS WAS DEDUCTED BY BANK BECAUSE FORM 15 WAS GIVEN TO BANKS. Gift deed was prepared. He has not filed ITR because his interest income is below 3 lacs and no tds deducted by bank.
Kindly advise
1) whether ITR should be file and
2) what will happen if he don't disclose gift amount in ITR if he file ITR.
3) Sir, whether it is true that if some one declared GIFT amount in his ITR, then lot of queries raised by IT Deptt as told my CA?
PLEASE CLEAR THE ABOVE POINT WISE. I WILL HIGHLY OBLIGED SIR.

a) Sir , if negative relief is coming for arrears in section 89 for form 10E after doing calculation. Do still i have to fill form 10E and verify it???
b) Can i show whole arrear in the current financial year, if i dont want relief under section 89??
c)is total taxable income in form 10E after taking all deductions such as 80C, hra, 80 CCD, 10(14) ??
c) is arrear taxable for previous financial year and will be cut from current financial year and the amount will be refunded??

Sir
I have given some amount as gift to my son who is major. He has no other income except interest received from banks. Interest income is below 3 lacs. Gift deed was prepared. He has not filed ITR because his interest income is below 3 lacs. Kindly advise whether ITR should be file and what will happen if he don't disclose gift amount in ITR.
No tds was deducted by bank because form 15 was given.
No reporting in AIS appearing regarding gift amount.
1)should ITR be filed?
2) if I file ITR and don't disclose gift amount, what will happen?
3) my CA is advising that don't disclose gift amount in ITR and saying if the same will disclose then lot of queries will be raised by IT Deptt. Is it true?

Levy of penalty filing of Income-tax Return after the due date Rs.1,000/- total income less than Rs.5.00 lakhs for the AY 2024-25. Filing of Income-tax Return after the due date under new tax regime if total income less than Rs.7.00 lakhs the late filing penalty whether Rs.1,000/- or Rs.5,000/-