Sir,

Bank account for refund is nominated. However whilst filling itr2 it still asks for nominating bank account for refund. Please advise how to fix otm

Thanks & Regards

Gift from relative is Exempt from tax under section 56(2)of the income tax act 1961 , however in ITR 1 , there is no such provision or drop down list in schedule exemption to show gift amount . where to report in Itr1

Note- ( No other income only Interest and exempt income therefore ITR1)

Dear Sir / Madam,

My query is as follows:.
A lawyer having gross bank receipts of 58 lakhs opting for 44ADA for FY 2025-26.
Will he be liable to deduct TDS from FY 2026-27 as he has crossed 50 lakh limit, though not going for Tax audit in FY 2025-26??

Kindly revert.
Regards,
Suraj

Dear All

One of my relative is retired and received the pension arrears as mentioned below in the F Y 25 26

Particular Amount
Interest From Saving Account 178.00
Interest From Fixed Deposit 1,65,481.00
Pension for F Y 25 26 1,01,256.00
Total Income for F Y 25 26 2,66,915.00

Pension Arears rec for F Y 20 21 TO F Y 24 25 (5 Years) 8,76,200.00

Total Income with Arrears for Current Year 11,43,115.00

TDS Deducted on Rs. 876200/- 87,620.00


Total Income is still below 12 lakh.

my query is whether we have to file 10E for Arrears received or can we file ITR without filing 10E for the F Y 25 26.

Thanks in Advance

Can I mention all invoice in Annexure- B utility or only Input Invoice is sufficient for IDS refund.

I am a GST-registered hotel providing room accommodation services. Both my B2B and B2C supplies are made through an E-Commerce Operator (ECO) such as MakeMyTrip. How can I determine whether these supplies are covered under Section 9(5) of the CGST Act? If the supplies are covered under Section 9(5), how should they be reported in GSTR-1 and who is liable to pay GST? If they are not covered under Section 9(5), in which tables of GSTR-1 should I report the B2B and B2C supplies made through the ECO?

I have received a notice for gstr7 vs gstr3b mismatch
I have shown all the sales transactions as b2c how to reply please help

Sir, we also sell cold drinks in our shop. When we purchase them, a total of 40% tax is charged (28% GST and 12% Compensation Cess). We take input tax credit of both the 28% GST and the 12% Cess. At the time of sale, we report and charge 28% GST and 12% Compensation Cess in our GST returns. Is this correct, or am I doing something wrong?

I am in process of buying a property where the source of funds will be my equity shares, funding from parents and home loan.
My parents would be selling their equity shares for this. However from what little I understand that they can alternatively gift those equity shares and then I can sell them from my demat account and use those funds to buy the property. With this route I wanted to understand what are the tax implications, will I be able to claim deductions under section 54f (or equivalent under latest tax laws)?
Appreciate your comments please.

If due to any reason, I could not prepare/issue e way bill against a sale before 20 days. What is the solution. The said sale bill is already shown in my GSTR 3B return. May I issue eway bill now ? What will be the consequences ?