I have query, I have received Defective notice u/s 139(9), I have filled and submitted ITR 1 as income is less than 50 lakhs but have received the notice of Defect with Error Code : RULE_37BA_194M_001
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.

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.

When checked in Form 26AS as mentioned in notice, my form 26AS - PART-VIII-Details of Tax Deducted at Source u/s 194IA/ 194IB /194M/194S (For Buyer/Tenant of Property /Person making payment to contractors or Professionals / Buyer of Virtual Digital Asset) has one entry which I have made payment to builder by deducting the TDS, for TDS deduction I have filled and submitted Form 26QB.

I request your help in understanding which form of ITR should I have selected, and how to respond this notice.

Thanking you.

Sir, PAN vs Aadhar linking date was extended up to 31-05-2024. after that any further extention sir

i want to know abt i had purcashe goods from A and this payment is recoverable from govt how journal entry pass in this situation

I filed and verified ITR3 on 28-07-2024 and got acknowledgement receipt however thereafter daily I am trying to download the PDF form via the efilling portal but still the same message is appearing "something went wrong please try after sometime". This is happening only for the pdf form of this year all else is downloadable. Now how to get the pdf of the form? Please Guide

SIR,

I COULD NOT ABLE TO UPLOAD FORM 27C AS IT SHOWS DATE FORMAT ERROR. IN CSV FORMAT WHEN TRY TO FORMAT AS DD MMM YYYY . IT IS NOT WORKING. WHEN I RE-OPEN IT IS GOING BACK TO OLD FORMAT.
PLEASE HELP THANKS

Whether ITR V of AY 2024-205 can be sent by ordinary Post ? Is it mandatory to send the same by Speed Post ?

A property was purchased in the year 1980. The same was inherited through a will by the grand daughter on the owner passing away in 2021. In this circumstance, what should be the cost of acquisition of the property for calculation of capital gains as per the new budget for FY 2024-25 ? Can the cost to the previous owner be considered as cost of acquisitin OR rate as on 01/04/2001 ? How to calculate and arrive at capital gains and tax on LTCG if the grand daughter sells the property in August-24 ?

Dear sir,
i return[purchase return] some goods to party with sales invoice in 2022-2023 but after 4 month party issued credit note for that invoice in 2023-2024 which impact my input showing less
please advice me what to do?

Turnover 2 Lakhs
Business Expenses incl Depreciation : Rs: 215656.
Income From Salary : Rs 24,00,000.
All payment received in electronic modes.

Is Tax Audit mandatory in this case to show loss ??

Assessee has never had income from profession previously.

Dear Experts

Can anyone help me please.

I taken loan from yes bank for Rs 6,00,000/- and paid emi properly without any delay for Rs 2,40,000/- after that I lost my job, hence I couldn't pay the loan on time and Missed one loan payment on January 2024. After that I paid every month loan emi with 5 to 10 days delay payment, i didn't miss even single emi, except that one pending EMI which is on January 2024. This month I want to make the payment on time hence I transferred the emi amount to my bank account to avoid the late fee and penalties, but bank auto debited the January 2024 month pending emi today 2Nd August, Actual emi due date is 4Th of every month, bank can do like this? Because this emi Dr Again this time also bounce charges and other penalty will applicable for me? Inbetween someone came to my home saying that he is from Yes Bank and threatening me why you didn't pay your loan. I asked him to show me your id card he is denied to show me the id card. And kept on calling me for that one emi pending

Can anyone help me please what should I do for this? As on date (3rd Aug) only one emi is pending which is due on 4Th Aug 2024. But that also going to bounce. Because of above said reason

Thank you
Vijith T K