Levy of penalty filing of Income-tax Return after the due date Rs.1,000/- total income less than Rs.5.00 lakhs for the AY 2024-25. Filing of Income-tax Return after the due date under new tax regime if total income less than Rs.7.00 lakhs the late filing penalty whether Rs.1,000/- or Rs.5,000/-

For a person being resident Indian, solely doing trading activities in the Indian capital market, is it mandatory to file ITR if the income statement for the previous year results in a loss?

Are there any relevant act, law, rule, or case article regarding this matter?

Thank you in advance.

I got the below notice, FYI other than salary i've received a income from tech articles which is around 15K and in form-16 they mentioned it as 194 JB,

Now what should i do, do i need to respond to notice or newly file a return, if yes which tier should i choose

TIA

The Notice:
You have filed your income-tax return in form ITR-1. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94M/94S/94C/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-1 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-1.

Error Description You have filed your income-tax return in form ITR-4. As per TDS details in your Form 26AS, taxes have been deducted under sections 1941A/194IC/194S/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/945/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-4 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR4.

I have submitted ITR 1 & 4 Both got defective notices.

In form 26 AS under 194S ,194H & 194BA TDS has been deducted .

Which ITR form I need to be filled to avoid defective notice.

Sir
I have filed updated return on 27th March 2024 for AY2023-2024. It is still showing e verified only. What is maximum time I may receive 143 order for updated return

Dear Sir,

Please let me know which ITR form should be filed by a carpenter who makes furniture as per the specifications given by customers.

Thanks.

A resident professional receives professional services from outside India and makes payment in Euros. Amt is more than 5lacs. Whether Form 15CA part D will be applicable or part C?

You have filed your income-tax return in form ITR-1. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94M/94S/94C/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-1 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-1......... please tell me the proper solution

Sir, I am PSU servant and filled ITR1 as usual. But this year I am getting this find of message " Rectify your defect" How to solve?

3 lakh ke uppar 5% tds hai but ek sawal hai ki jo 7.5 lakh Tak ka exemption hai woh continue rahega FY 24-25 mai ya nahi