I seek professional guidance . Assessee (Individual) business turnover less than Rs. 1.08 crore during relevant previous year actual profit morethan 8% of turnover presumed cash receipts and payments morethan 5 percent.
Is Section 44AD applicable in such circumstances? Does cash receipt and cash payment morethan 5% affect eligibilityto opt for section 44AD when turnover is below Rs.2 Crore?
Is tax audit under section 44AB required when the assessee opt for section 44AD and declare profit morethan 5%?
What is the correct interpretation of the 5% cash receipt/payment conditions appearing in the ITR audit-information schedule?
What should be selected in the ITR regarding the relevant audit-information questions?

I would appreciate an answer with reference to the specific provisions of Section 44AD and 44AB and the relevant Rules/official notifications, so that thereturn can be filed correctly.

Dear Sir/Madam,

I seek your expert advice regarding a tax demand of ₹4,650 raised by the Income Tax Department under Section 143(1) for AY 2026-27.

The relevant facts are as follows:

1.I was employed in the UAE from 3 March 2025 to 7 March 2026.
2.I was physically outside India throughout FY 2025-26. My passport records support this.
3.The entire salary income of ₹4,88,832 reported in my ITR relates to my UAE employment.
4.0I was treated as Non-Resident in the ITR, and the same residential status appears in the Section 143(1) intimation.
5.The CPC has included the entire ₹4,88,832 as taxable salary and calculated total tax liability of ₹4,657, against which only ₹4 TDS credit has been allowed, resulting in a demand of ₹4,650.
6.No interest or late-filing fee has been charged.
7.The salary was credited to my Indian bank account.

I would particularly like your advice on the following:

Whether the UAE salary of ₹4,88,832 is taxable in India, considering my Non-Resident status and the fact that the employment was performed entirely in the UAE.
Whether the fact that the salary was credited directly to an Indian bank account changes its taxability.
Whether the India-UAE DTAA, particularly the provisions relating to employment income, provides any relief.
Whether the amount should have been reported differently in ITR-2, such as under Schedule EI/FSI/TR or another appropriate schedule, if applicable.
Whether there is a valid and strong case for filing a Section 154 rectification request against the 143(1) intimation.
If rectification is appropriate, what exact correction should be made, and what documents/evidence should be submitted?
Should the ₹4,650 demand be paid while rectification is pending?
I would appreciate your professional opinion on the correct tax treatment and the appropriate course of action.

Kind regards,
Yousuf

I want know how to calculate turnover and other expenses to be included in ITR for income from F&O trading.I possible kindly explain with example.

I have a short payment default of Rs 120 in TDS return and have already paid the differential challan . Now I want to tag/adjust this challan against the default on TRACES.

The new TRACES portal (under the Income-tax Act 2025) does not seem to have the challan correction/tagging option for this. And for FY 2026-27 onwards, this correction can no longer be done on the old TRACES portal either.

Has anyone faced this? What is the correct process now to adjust a new challan against a short payment default for FY 2026-27 on the new TRACES website? Any specific tab/menu I'm missing, or is this facility not yet live?

Dear sir,
Mere ek client ke pas gst number hai but pure saal kaam na hone ki wajeh se gst return nil file rahi...means gst turnover zero raha....lekin uski e shop hai garments ki usne wahan par qr code scanner laga diya payment receive karne ke liye aur pure saal mein 15 lakh ke aas paas payment received hui...mera question yeh hai ki mujhe uski itr file karni hai kyunki bank me account freeze kar diya hai aur ITR maang raha hai...ITR mein kya figure dikhaye kyunki gst turnover zero hai aur account unfreeze karana hai...please reply must...

I am Bank Employee; Recently I have filled my ITR-1 for AY-2026-27. In My Form 16B, there are
1. Salary Income of Rs.20,62,400/-
2. Value of Perquisites Rs. 2,84,621/- and
3. Other Income -****(Interest on SB and Fds). The Total Value of Perquisite Rs. 2,84,621/- Includes as per Form 12BA (Nature of Perquisites)-Car/Other Automative, (37,430) News Paper, (5400) Entertainment, (7656) Misc Perks (15000) (All Total Rs.65486/-).
Remaining Value of Perquisite (2,19,135/_) include
1. Interest Free or Concessional Loans- Tax Borne by Employee-(Rs.29,701/-)
2. Interest Free or Concessional Loans- Tax Borne by Employer-(Rs.150,479/-).
3.Perquisite Tax along with Grossing Borne by Bank (Rs. 68656/-)
4. Details of Tax Paid -Tax Deducted from Salary Sec 192(1)-205381/-
Tax By Employer on behalf of Employee Sec 192(1A)-68664/-
Foot Notes 1. Tax- amount on Non-Monetary Perquisites i.e. housing & furniture (Accommodation) calculated on the basis of Average rate of tax is 18043.00 which is exempted under Section 10(10CC) of IT Act 1961. The same has been incorporated in Part B (Annexure) of Form-16 under sub head "Other Exemptions" of Sr No 2(f).
I have filled my return by Adding Value of Perquisite Rs.2,84,621/- in Salary Schedule. Some of my colleague claim exemption under sec 10CC for (Interest Free or Concessional Loans). I have query whether I can filled Revised Return to claim exemption under 10CC of which amt IFCL-(1,50,479/-+Value of Perquisite Tax along with grossing borne by Bank (Rs.68656/-) or Tax Paid on Non-Monetary Perquisite paid exempt under 10CC and shown in form 16B Other Exemption Rs. 18043/-. Please advise which of these Value of Perquisite I Can Claim Exemption under Sec 10.

one NRI get transferred own fund from his own Indian account to his foreign US Account, without any approval of Income Tax Department, but bankers made tds there on, is there any problem or controversy by doing this, kindly guide what to do now

res sir
Corrections or filings for 5-year-old 24Q and 26Q returns cannot be processed; please provide the CBDT/Income Tax resolution number and date regarding this matter, if known.

Hello, is it possible to get PAN from DIN

sir,
one income tax payer running a private hospital year income estimated rs:3 crores but some patients treatment in hospital after amount received from health care trust
example patients treatment bill amount rs:3 lacs for some expenses paid food and travelling etc value rs:50,000/- for month june-25 treatment amount form healthcare trust recieved rs: 3 lacs for the month of august-2026 tds deducted amount received date.Question:hospital above transactions show procedure in account books treatment and accounting entry passed procedure for income tax purposes and expenses paid and income transactions show procedure year 25-26 or 26-27 correct procedure