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 for...
Received Notice for filing ITR-1
Got below Response from CPC Bengaluru, Which ITR form I need to use for the notice 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...
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....
I got error RULE_37BA_194M_001.
You have filed your income-tax return in form IT-1. As per TDS details in your You are being provided with an opportunity to make necessary corrections and Form 26AS, taxes have been deducted under sections
file a return of income in the appropriate form so that income and taxes may be
194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax dete...
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 requir...
I received a notice regarding income tax form-1 as follows "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...
Got below Response from CPC Bengaluru, Which ITR form I need to use for the notice 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 ...
I have received mail regarding defective filing which states -
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 wh...
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 for...
Got below Response from CPC Bengaluru, Which ITR form I need to use for the notice
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. Th...
I received money along with my bothers sisters and uncles when property inherited by us from my paternal grandfather, was sold ten years before. my 1/12th share. (2 uncles and 2 siblings and mother). Rs.10 Lac was not given by the builder then and held back as security until premises made vacant by tenants. But builder lapsed on the agreement for ten years for lack of money . Now after raising ...
I made a capital gain of Rs 60 lakhs from sale of my flat in FY 20 and purchased another flat in another city within 3 months. The payment of this new flat were to be made in installments, so I opened a capital gains account in SBI. However the bank issues demand draft only towards demand notes raised by the builder. It is not even allowing payments from this CG account for property registratio...
Context: We are in the process of buying a land from a developer. Primary applicant is my wife, me and my Dad (62 y/o) are co-applicants. We have paid the first installment (there will be total of three installments until possession of the land). I now need to pay the TDS on the first installment.
I understand that each buyer will have to file separate Form 26QB and in each buyer's Form 26QB, ...
My parents and i bought an under construction property in Mumbai on 31 Mar 22 (registration date) and the builder paid TDS to the Govt in one owners name only on full value of consideration and not installment amount.
It was mistakenly communicated to us one year later that builder had not deducted/paid TDS and 3 of us then paid TDS+interest+penalty on amounts paid till then.
Few days lat...
Hi there,
I need help in understanding about taxation for my current situation. I have been working for a US-based company since Feb 24, I get monthly salary of 5.5k USD per month from their end, although I'm working from Pune at their client location but salary gets credited in US currency to my WISE account, which is an online bank account based of Belgium. So currently, I want to know: am...
The plan is to start a clothing brand, Z, as follows:
Target market is the US (and Canada + Europe, if additional compliance for such nations is minimal).
The business entity (Elfreds, hereby referred to as E) is an LLP based in India.
E would set up an online ecommerce store (using Shopify, Woocommerce, etc.) and receive orders from US customers. E would receive the payment from the custome...
It is with respect to ITR2 filing in case of income from USA specially with respect to retirement fund. In USA – the income from retirement fund is taxed on withdrawal basis and whereas in India – it is on accrual basis. The Govt has inserted a new provision in 2022 – section 89A – by which one can defer the income to future year.
I have a specific question – what a right way is to report suc...
I have bought a flat at 24 lacs (flat plus garage plus stamp duty registration)11yrs back. I sold in on April 2023 at 47 lacs. The flat was in joint name of me and my wife. I had bought another flat in sept 2022 at 67 lacs. The loan of that flat is still getting paid by me.
My questions are as follows:
1. Do i have to re invest the capital gain part ie (47 lacs - 24 lacs) 23 lacs in house ...
Looking for some clarity around capital gain taxation on sale of property in case of JDA and landlord selling the share before OC.
Please consider the below series of events
1st July [deleted] syrds land procured on for a value of Rs.10Lakhs
2nd July [deleted] syrds land given to a devloper on JDA and in return taking a 200 syrd villa (land cost 10L + Building cost 15L)
20th Oct 2022 - D...
1) Assessee expired with a WILL.
2) Two persons are named as EXECUTORS.
Question: As per sec. 168 of the Income tax Act, i guess they will have to apply for a separate PAN as AOP, since 2 executors..and they will be assessed as AOP. Kindly confirm.
3) Now, the nominee has received the Mutual funds and they have sold it also and proceeds are lying in the bank. This is the money of the Estate...