I GOT SHORT DEDUCTION IN TRACES SITE DEFAULT SUMMARY FOR FY11-12 FOR NON SALARY DEDUCTEE.


I CANT FILE CORRECTION STATEMENT AFTER 31.3.2025 BEFORE 6 YEARS FROM TODAY.
HENCE, I CANT DO ANYTHING AGAINST THIS DEMAND?

WHAT OPTION I GOT ? CAN I FILE APPEAL ?

Is there any penalty or interest payable for the omission of 2 entries in the 2nd Quarter TDS return? Can we include them in the 4th Quarter Report and file them without any penalty or interest?

Kindly advise.

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.

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

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.

when and at which amount capital gain is arise when one company purchase a wholly owned subsidiary from shareholder of that company in consideration of purchasing company's share that is to share swap ..explain me tax implications from point of view of that shareholder as when and on which amount capital gain tax is arise.

Respected Colleagues,
Can we file TDS return in 27Q after payment of TDS before quarter end??