Rajkumar Gutti
This Query has 1 replies

This Query has 1 replies

08 July 2025 at 11:56

Standard deduction on pension

I have prof. Income for f. Y. 24-25 yearly 7 lac. & provident fund ( EPF pension ) pension monthly Rs. 4000/- ( Fy. 24-25 = 48000/- )
Total income Prof. Charges & PF pension is yearly
748000/-.
Can I gate standard deduction on EPF pension. If yes, then what amount or proportion.
Pl guide


HIMANSHU
This Query has 1 replies

This Query has 1 replies

08 July 2025 at 11:16

Self Occupied Residential House

Sir,
Since FY 2019-20 / AY 2020-21, you can treat up to 2 residential houses as self-occupied.
Can a commercial property can treat 2 commercial property as self occupied.
If Yes any notification or circular?
If No any notification or circular?


Narendra JR
This Query has 1 replies

This Query has 1 replies

08 July 2025 at 00:31

Updated Return becomes Invalid

Individual having salary income 1,80,000 and ₹5000 Interest filed ITR U for A. Y. 23-24. Late Fees of Rs. 1000 has been shown as Additional Tax Paid. No Original Return was Filed. So, the Whatever Income Offered in ITR U (Updated Return) is Additional Income. While Filing No Validation Error shown by Income Tax Portal and ITR is E-Verified immediately. Later, Dept. Made such ITR Invalid stating that - "As seen from Sch. Part B-ATI of the updated return filed by you, the same results in a refund. Hence, in accordance with clause (c) of the first proviso to sub-section (8A) of section 139, the said updated return filed by you is invalid, ab-initio, and is deemed to have never been filed."

But, I have not claimed any Refund in ITR.
Is Income is below 2,50,000 - that's why it is considered Late Fees ₹1000 Refund?
But, without ₹1000 Late Fees IT Portal Showing Validation Error after we Paid Late Fees and put Challan Details in ITR U then It accepts.
What Can Be The reason of such Invalid ITR Treatment?


Sahil Nagpal
This Query has 1 replies

This Query has 1 replies

When filing TDS returns under Section 194Q, some businesses combine multiple purchases from a single seller into one entry for simplicity. For example, a car showroom might consolidate monthly purchases from a supplier like Hyundai, totaling ₹10 crore, into a single transaction.

The Concern: While this streamlines reporting, could it trigger questions from the tax department about the source of funds? Individual entries clearly show the rotational nature of funds (sales revenue funding new purchases), but a single large entry might raise red flags about the origin of the ₹10 crore.


Aditya Ghatge
This Query has 5 replies

This Query has 5 replies

Dear Sir,

With respect to above mentioned subject line would like to confirm that whether is it mandatory to submit any kind of Form for providing intimation to Income Tax Department for submission of Income Tax Return for F.Y. 2024-25 i.e. A.Y. 2025-26 under Old Regime. If there is need to submit such Form then what shall be timeline for submission i.e. prior submitting Income Tax Return or is it fine to submit the form after E-Filing of Income Tax Return, kindly advice.

Warm Regards,
Aditya Ghatge


raidharmender1988@gmail.com
This Query has 1 replies

This Query has 1 replies

07 July 2025 at 16:29

SALARY OF SEAFARER OR MERCHANT NAVY

WHICH SECTION OF INCOME TAX EXEMPT SALARY OF MERCHANT NAVY OR SEAFARERS.


Shantanu Bose
This Query has 3 replies

This Query has 3 replies

Sir,
I had purchased 9 lakh Axis overnight mutual fund on 12/11/24 which I redeemed on 25/11/24. Again bought 9 lakh Axis overnight mutual fund on 03/01/25 with same corpus which I redeemed on 25/03/25. So total money involved is 9 lakh only. But in AIS for AY 25-26, AMC has reported this as purchase of 18 lakh in 1 count cumulatively instead of 2 counts as if I have purchased high value 18 lakh at one shot which may be counted as high value transaction in AO's eye and I may be served notice or scrutiny may come.

My question:
How ro response and explain to AO if 143(2) or 148A or 69 notice is sent to me ?

Thanks


labhu vegad
This Query has 1 replies

This Query has 1 replies

Sir I am freelancer and doing grafic design work . Under which business code I have to file ITR.


MALAY DAS
This Query has 1 replies

This Query has 1 replies

06 July 2025 at 10:01

ITR 3 FORM NOT COME

RESPECTED SIR
ITR 3 EXCEL UTILITY 2025 KAB TAK AYAGA ? THANKS...


Amit Kumar Das
This Query has 3 replies

This Query has 3 replies

05 July 2025 at 17:29

Appropriate IT return form

I am a sr citizen resident Indian. My income consists of government pension and bank fds only.
What is the appropriate ITR form for AY 2025-26 for me?
What is the last date for online submission of return this assessment year?
Would be obliged for answers to my queries by email from any expert.
Regards,
A K Das,
amit.das2006@yahoo.co.in





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