Manoj Pandey (48 Points)
24 July 2022I am filling ITR 3.
1. I have some income as interest from NCDs. This is not in AIS. I think this interest is taxable as ordinary income. Yes?
2. I have some income as book royalty. I have entered it as OS income. The ITR utility is not allowing 80QQB deduction. What can I do?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167415 Points)
Replied 24 July 2022
1. Yes interest taxable u/h. IFOS.
2. Need to be selected in schedule 'Chapter VIA'
Manoj Pandey
(48 Points)
Replied 25 July 2022
Many thanks.
The issue with the royalty income is that ITR utility is allowing to put under 80QQB but then not adding it to deductions- keeping that column as zero.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167415 Points)
Replied 25 July 2022
Royalty income is to be declare under PGBP and not under IFOS..
Manoj Pandey
(48 Points)
Replied 25 July 2022
Thanks again.
I have put it under business head 20011-Literary Activities.
Even then, it is not allowing 80QQB.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167415 Points)
Replied 25 July 2022
File complaint under Grievances...
May be some bug in utility, that need to be rectified...
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