If a person have filed his ITR in presumptive scheme 44AD for past 2 years and in 3rd year he did not filed his ITR at all (Missed filing his ITR) Does non filing of income tax return considered as opting out of 44AD? or can he file his ITR of 4th and 5th year in 44AD?

Is the Interest Income, Income From Mutual Fund or Bank Interest (Saving Account and Fixed Deposits) earned in name of Infant Child and Minor Child is taxable to whom Father or Mother.
Please explain in detail.

A coparcener of a Hindu Undivided Family (HUF) wishes to provide an interest-free loan to the HUF through the capital account, with the intention of being able to withdraw the loaned amount from the HUF whenever needed. Are there any tax implications for the coparcener in this scenario?

Additionally, what documentation is required for such a loan? Is there a standard loan agreement format that covers details such as the loan amount, interest rate (if any), repayment terms, and consequences in case of default? Please share or repoint to any sample documents.

Please also clarify the tax implications specifically when a coparcener lends money to the HUF.

Kindly send the chartered Accountant syllabus.

Dear Sir/Madam, processing of Rectification filed for the AY 2023-24 on 21-Jan-2024 has been completed determining Demand. Intimation has been sent to Taxpayer registered e-mail id. Request Taxpayer to verify registered email id for the intimation. Later, Updated Return filed by the taxpayer for AY 2023-24 was treated as defective u/s 139(9) of the Income Tax Act. In this regard a Notice u/s 139(9) was sent to taxpayer's registered mail ID, followed by reminders intimating the defect and probable resolution. As the defect was not rectified so taxpayer's return for AY 2023-24 has been declared as Invalid.


Taxpayer is requested to contact the Jurisdictional Assessing Officer for further clarification. Further, we regret to inform you that your rectification application filed on 07-Dec-2024 has been rejected. To know the rejection reason please refer to rectification rejection notice which has been sent on 17-Mar-2025 to your email id
This is response of Grievance lodged in CPC portal regarding validity of rectification order of 21st Jan 2024

Rectification Rejection reason rectification is sub moto action and there is no mistake in order which is sought to be rectified
1. So rectification filed on 21st Jan will be valid or not
2. Whether rectification will be taken as final assessment for AY 2023-24

Hi,
We have missed paying GST on RCM liability on renting of commercial property. We could understand that the same has to be paid from tax period Oct'24. However, we have finished filing 3B return for Mar'25.
We are looking to pay the liability and interest now. Please advise how the same has to be paid? Is it ok to pay in Apr'25 GSTR 3B? And show break-up (month wise) on the tab which comes after making payment/set-off (before EVC)?
Also, whether self-invoice number to be added in GSTR 1 of Apr'25?
Would appreciate your response. Thanks in advance.

Sir, I have query Mr. A registered Dealer in Karnataka who give rent of shop & machinery in Karnataka to Mr. B who is a Registered dealer from Andhra Pradesh. in This case is IGST applicable or CGST & SGST ?

My co is in infrastructure projects. We construct one of the biggest bridge in India. On which marathon was arranged. So traffic was blocked. Hence we demanded revenue loss 75 lacks from this company which is toll.. They deposited 25lakhs as security. also some amt rs. 37lacks. after application of gst and tds deducted. We estimated revenue that toll 31 lacs.. Now while releasing sd we recover 6lacks , whether gst also recoverable

Under which head shall I report withdrawal of Provident fund in ITR 3 in order to claim TDS?

(I can't show it as exempt income as TDS has been deducted. Also, showing it under schedule Other sources will be be flagged defect by IT department.)

Thanks in advance.

Sir, I could not find any option for rectification (u/s 264) on the portal as suggested by you.