I am opting for presumptive taxation mode in ITR-3. I am getting the following error in the final validation step.

Upload Level ValidationITR3Category of Defect B/D
You will be allowed to upload the return. There is a possible defect present in the return or some of the deduction/claim may not be allowed.
1 Error(s) found

Error Description
If you are required to prepare/maintain books of account and dividend income is reported in Profit & Loss Account, please ensure consistency between amount of dividend income reduced in Sch. BP and dividend income reported in Sch OS. Please ignore if not applicable.

Suggestions
Kindly ensure that dividend income mentioned in schedule OS should be equal to dividend income reduced from Schedule BP.

So what to do? Do I have to made entries as suggested or just upload by neglecting?

Non specified professionals were allowed to file their returns using section 44AD under 1961 Act, as they were not barred using 44AD like specified professionals who could use 44ADA. Is position any different under 2025 Act? Can they not utilise presumptive income scheme?

To show presumptive income under Section 44ADA, what should be the business code for a Contractual Photo Editor?
FYI, As per the TDS certificate, TDS has been reported under Section 194C.

Hi

I had under construction house property in financial year 2025-26

Whether I have to disclose it in ITR for FY 2025-26 or I need to disclose it in ITR in future years when I receive possession of said house property

Please advise

Sir,
one of landlord pay local board building tax on 15.07.2026 for 25-26 payment . He also incurred Penal interest for that
1. which year he can claim deduction form his rental income
2. can he claim Penal interest also.
Please advise
With regards
Binu

If a foreign individual receives a foreign inward remittance (income received from outside India), where should this be reported in the ITR utility, if at all? If the amount is exempt from tax in India, is there any requirement to disclose it in the ITR? Kindly clarify the relevant schedule/field, if applicable.

Hello Sir /Maam

EPFO credited interest.I put VPF above 2.5L as I find VPF a safe option inspite of tax component.

But credited interest it's not reflecting in 26AS/AIS

How to file tax and for which year to file tax
The Passbook neither mentions date of credit not the taxable interest .Just I see enhanced amount .When entries are not there in 26AS/AIS how to file?

Goods sold to a customer (B2C) of Rs. 2.00 lac was returned by him. A e way bill was issued against the sale. Now, what should I do ? A credit note is to be issued now. But what about e way bill already issued ?

I have a query regarding the reporting of Futures & Options (F&O) transactions in ITR-3 and the applicability of tax audit under Section 44AB.

The facts are as follows:

I am engaged in F&O trading.
The total traded value (purchase + sale contract value) exceeds ₹20 crore.
The absolute net profit from F&O transactions is ₹7,13,000.
I have filed / intend to file ITR-3.

My queries are:

Since the ₹20 crore represents only the total traded value and not the F&O turnover as per ICAI guidance, is a tax audit under Section 44AB applicable?
While filing ITR-3, should the purchase and sale figures represent the gross contract values, or should only the F&O turnover (computed as per ICAI guidance) be reported?
If the Trading Account schedule in ITR-3 contains fields for Sales and Purchases, what amounts should be entered for an F&O business?

I'm an Indian resident planning a cross-border e-commerce model: buying products from US suppliers, shipping them directly to a Canada-based warehouse (goods never enter India), and selling to Canadian customers via Amazon.ca. This involves ongoing small-ticket transactions, not a single bulk deal.
Money flow: I pay the US supplier from India, and receive Amazon Canada sale proceeds into an Indian account.
Questions:
Does this qualify as Merchanting Trade under RBI's MTT guidelines, given it's recurring retail sales rather than a single confirmed bulk order?
Is IEC mandatory here, since goods never physically touch India?
Any GST implications, since the supply and sale both happen outside India?
Best entity structure (individual/LLP/Pvt Ltd) for this kind of recurring cross-border trade?
Would appreciate guidance or relevant circulars from anyone who has structured something similar. Thank you.