My name is BASAVARAJ VIRUPAKSH BENGERI
BUT IN CHECK BASAVARAJ VIRUPAKSHA BANAGERI DOES IT CLEAR AND CREDIT AMOUNT IN MY ACCOUNT

Hi,
if we have bought an assets in mar'26 and calculated the depreciation accordingly (depreciation on usage as per number of days)...in next year the "used/remaining life" will be 2nd yr or it will be 1yr (as it was bought in march'26)

I have undisclosed account in ICBC bank China with around 21960 CNY since 2018 and currently it could be dormant. It was opened anticipating some potential business but not materialized due to COVID etc. However, now received SMS from IT system to utilize FAST DS26 scheme till Dec26. I have checked in compliance portal and see the account reflecting with balance of 21850 CNY and interest of around 110CNY for CY 2022 & 2023 ie total of around Rs 314,500. I have accepted the amounts in compliance portal. Now my query is should I utilize the FAST DS26 and pay Rs 189000 ie 60% of total balance as tax or will the Rs 20 lakh immunity protect me from 120% levy if I dont avail the scheme. I will have to consider the entire amount as income as the current account is dormant, i dont have any bank statements as of now and will not be able to show source etc as is very old and not sure if ICBC will share statements without reactivation of account etc. The deposits was by way of sale of samples I was carrying during that time. I have been resident all through. Please advise.

I want to start industrial trading business in Mumbai.
Tell me basic procedure

Dear Experts
I had salary and business income in FY 2023-24, so I filed ITR4 and submitted form 10IEA for opting old regime .
In FY 2024-25, I had only salary income. So I opted new regime without submitting form 10IEA.
In FY 2025-26, I had salary and business income again. So I filed ITR4 continuing new regime as I opted it last year. But income tax department now seeking a clarification for not submitting form 10IEA again this year. They are saying that this year income will be treated as per old regime since business income is there.
I am hopefully looking for your kind advice about how to respond to this query.

sir,
i have sold goods but invoice not issued because our accountant was absent gst officer visited and impose tax and penalty and same has been paid through drc-03 before scn.how to show this is books of account.should i issue invoice for the goods sold?please clear this puzzle

1) prepared an Excel bank entries template
2) created all required ledger accounts in Tally
3) created Tally mapping template in Tally
4) imported all bank entries into Tally successfully
5) when Alt+R is pressed unreconciled bank entries should be seen. but they are not seen.
6) therefore, manual bank reconciliation cannot be done
7) Tally shows them a "Available only in books"

Kindly suggest a solution to this issue. Thanks!

I have a taxable turnover of Rs. 97,00,000/- for the month of August 2026, which is an intra-state supply taxable at 18% GST. Under the current GST rules including Section 49, Rule 86B, and Rule 87, how much tax am I required to pay in cash and how much can be adjusted against Input Tax Credit (ITC)? Kindly clarify the applicability of the 1% minimum cash payment rule in my case.

Hello Experts -

This is a question from a lay person regading the recently (CG-DL-E-15082026-275490) introduced FAST-DS 2026 scheme.
Here it mentions that any money paid by a declarant via the scheme (fee/penalty etc for disclosure) is non refundable, cant be set off etc.
Question:
For person declaring a bank a/c under this scheme, the requiement is 'Sum of all deposits'. A person who had this a/c a decade ago was informed by the foreign bank that the retention policy meant that the statements are only available after 2018.
The rules just ask for supporting documentation but theres no room for variation when reporting 'sum of all deposit' for bank account, an alternative was not provided in the rules. (though it was provided during a similar scheme in 2015) ie, Question 5. https://www.incometaxindia.gov.in/documents/d/guest/circular15_2015-pdf

Main part -
SInce there's no refund, & no mention of a provision/mechanism (like e-campaign for taxes) for a declarant to answer queries that the dept might have about a declaration made by a person., the person has no alternative but to declare pay the amount and then hope it is approved (since there;s no mention of 'Best estimate' alternate for 'sum of all deposits' like the scheme in 2015)?
From the way it is framed (atleast to a lay person) it looks like there's no support or explanation mechanism mentioned in the scheme for edge cases, so after paying the dialog is closed and if it is rejected for whatever reason, the person filing wont know the reason and most importantly the money will be lost.
Can an expert or someone who is reasonably familiar with law-speak please reply if this is as rigid and recourseless as it appears to be.

Thanks in advance for your expertise

Hello Members,

I seek your guidance regarding a TDS issue on property sale.

My total TDS liability was INR 9,695.

I paid INR 9,635 on 7th November 2025, which was within the due date.

The remaining balance of INR 60 was paid later on 3rd September 2026 through a fresh Form 26QB.

Despite this, the Income Tax Department (ITD) has issued a defaulter notice and imposed a significant penalty on the amount of INR 9,635, which I had already paid on time.

I need advice on:

How to draft a reply to ITD clarifying that INR 9,635 was paid within the due date? To whom I should address, what is the email id?
How to link both Form 26QBs (acknowledgement numbers) to demonstrate that the full liability of INR 9,695 has been discharged?

Any expert inputs or references to relevant provisions would be greatly appreciated.

Thank you,
Somenath Dhar