I get the following error while processing the defaults :

T_FV_6364 Value to be provided is Mandatory from Financial year 202425.

Field Name is as under :

Amount reported as per section 192(2B), of other tax deducted at source or tax collected at source, other than (388)

Hi All,

I am buying a property for 80 lacs. I have paid a token amount of Rs. 1,00,000/- to the seller on 2nd April 2025. Housing loan will be of Rs. 50 lacs.

The balance sale consideration will be pay in 3 instalments i.e. Rs. 9 lacs on 10th April 2025 and Rs. 20 lacs 15th April 2025 and the Sale Agreement will also be signed on the same day - 15/04/2025. Finally, the balance amount will be paid by housing loan directly by bank.

I will pay tds on payments to seller thru my bank account - as 99% to the seller and 1% to GOVT. thru 26QB...
but what about tds on home loan amount? how does it work?

My query is how tds paid on home loan amount? whether I should pay or bank will deduct and pay on my behalf?

Should I inform bank to pay 99% to seller and 1% to me (my sb a/c) and then I pay tds thru 26QB? This seems a proper approach to me. Please advise.

Does anyone have a format of letter to write to bank home loan department for such request?

Thanks
Niki

Dear Income Tax Experts,
In our organization we provided a CAR to the Management Employee. For that we are paying monthly fixed fuel amount without getting a bills from the Employee. In this case we considered the monthly fixed fuel amount is taxable and deducted the TDS. But, all employees are objecting for deducting the TDS.
I am seeking an advise from the expert for resolve this issue.

An assessee bought a rural agricultural land in 2011-12 as it is a rural agricultural land it does not classify as a capital asset, As on today's date i.e. 19/03/2025 rural agricultural land only. Suppose he converts the land to a residential land on 01/04/2025 (It will classify as a capital asset) and sell the whole set of Residential land in 2025-26 only.
Query: What would be the period of holding, would it classify as LTCG or STCG? (As the assessee is not in the business of Real Estate or developing or selling of land and not having any more of such projects we won't be taking this income in the head PGBP)

After reading a few questions on tds under 195, I got a few questions, if anyone can kindly help me understand.

1. If I purchase courses from coursera for personal use. The invoice mentions their foreign address. Do I need to deduct TDS under section 195. I have also purchased a few courses from udemy but the invoices mention Haryana office.
2. As a part of the same question, do I need to deduct tds for payment to Netflix and prime video. Both of the invoice have the India address of Netflix and prime.
3. I have also booked travel air tickets from Agoda and few sites which also have their foreign addresses in the invoice. Do I need to deduct TDS in this case?
4. Also, as an individual, what should I check to know if I need to deduct TDS?

As an individual with no audit or anything, is there any scrutiny for these things

TDS implications for the Services to be provided by the various partners.

1. Nature of Services covered: -Collection agency services.
Fees: - Fixed % of collection fees on principal monthly outstanding.

2. Nature of Services covered: -
a) Completion of pre & Post sanction Documentation of the Customers.
b) Facilitating personal discussion (‘’ PD’’) and onboarding the Customers.
c) Identification of vendor/supplier/customers of Partner for the purpose of providing of
products by the Company.
d) Limit of loan approval and completion of post sanction documentation for Customers.
e) Tracking of Limit of loan utilization by the Customers.
f) All the ancillary services which are related to performance of services by the partner.

Nature of Fees Basis
Service Fees End Customer rate less hurdle retained by company.
Such service fee plus applicable GST will be paid on receipt basis only i.e.
based on actual collection amount received for that particular period of time
say, every month basis invoice raised.
Processing Fees To be retained by the partner. (Processing fees plus Applicable Taxes)
Bounce Charges Retained by Partner
Penal Charges Retained by Partner

We maintain Employee Gratuity Trust account in bank. LIC credited gratuity amount in our Bank trust account.
In gratuity trust bank account unclaimed or un paid huge amount lies from 8 years. In that gratuity trust account bank interst credited.
Now we want to transfer interest earned amount to our business bank account and to show int. income.
Is it right method, if no, then what treatment to be done.

Pl. Guife

I followed the below process for claiming TDS refund on cancelled property deal:
In case of refund of TDS for Form 26QB, the buyer/deductor has to log-in to TRACES portal as a ‘Taxpayer’.
Step 1: Log in to TRACES – Enter User Id, Password, PAN and captcha
Step 2: Navigate to Statements / Forms > Request for Refund.
Step 3: Read the Refund Checklist and click on Proceed
Step 4: Select one of the reasons and click on ‘Add Challan‘
Step 5: Mention the reason for raising the refund request in the space provided.
Step 6: Enter the challan details. Click on ‘View Challan Details’
Step 7: Click the Challan Consumption Details
Step 8: Tick the appropriate checkbox and click on ‘I Agree‘
On the landing page, One can Add Challan or Remove the Added Challan.
Step 9: Click on 'Proceed' to continue.
Step 10: Enter the Communication Address and Bank Address
Step 11: Verify the details of Authorised Person. Click on 'Proceed' to continue.
Step 12: On next page, Click on ‘Submit Refund Request‘
Step 13: Validate 26QB Refund Request with DSC. Click on 'Proceed' to continue.
Success message will be displayed on the screen. One can Preview and Print Form 26B Acknowledgment.

HOWEVER,
On entering challan details, when I click 'View Challan details', challan details are not displayed. Instead there is a remark in red "Refund request can be submitted for OLTAS challan (s) where available amount in challan is equal to or greater than ₹1." Please guide. Do I need to revise my 26QB first, If yes, what changes should be made in that

Sir i purchase capital good on the month of march 2023. but received itc on 3b in april 2023.
NOw in gstr 9 in table no 6 whether i have to segregate the ITC as capital good or not as i have received in april 2023.
or i will show in table 8 (c) column and not to be shown in table 6 in gstr 9.

Please advice.

I have a money-back Insurance policy with AGEAS FEDERAL (formally known as IDBI FEDERAL).
I have paid premiums for 10 years, and now, from this year onwards, I will be getting around Rs. 2,85,000 per annum back for the next 5 years. This year I got Rs. 284705.18 credited in my bank account.

What is the taxability of this receipt?

Kindly advise