Sir, we are engaged in a nursery business where we purchase plants, grow them, and sell them. Maintaining a detailed inventory or stock register for each plant is practically difficult. Therefore, we maintain only Plants Purchases and Plants Sales in Tally.

In such circumstances, could we face any issues during Income Tax scrutiny? Can the Income Tax Department reject our books of accounts and estimate our profits merely because we do not maintain a detailed stock register?

What minimum records should we maintain to comply with Income Tax provisions and avoid scrutiny-related issues? Kindly advise with reference to the relevant sections of the Income Tax Act and applicable judicial precedents.

A works contractor carrying on works with a government department.
During the month of September 2025, that concerned department filed an entry showing a payment of Rs. 30 lakhs to the contractor. Actually no such payments were received by the contractor. The contractor wanted to reject this entry in GSTR7. Instead of rejecting this entry ,the accountant wrongly accepted the entry. Now the deductor states that as the entry has been accepted by the deductee he can not revise the GSTR7 return filed by him. The GST officer also says that he can not do anything in this matter. Can the experts give a solution to this problem as this turnover will be added to the outward supply for this month and as the contractor has not received any such payment.

My father has expired. I am nominee in his PPF account. I want to transfer this amount to my HUF savings account immediately when it is credited to my account. I shall do fixed deposit in HUF name. What is process to do so? Will there any tax complication in future?

I filed the TDS return and later filed a revised return with the correct details. Due to this issue, the challan was frozen. However, we have now got the challan unfrozen.

Now, while applying for the refund through Form 26B on the TRACES portal, the system is showing the maximum refund amount as only 7473 against the total challan amount of 100000.00. We are unable to apply for the full refund.

I would like to understand the following:

Why is TRACES allowing a refund of only 7473 instead of 100000.00?

Is there any minimum refund amount or any other limit for claiming a TDS refund?

Could this problem be due to the original TDS return, revised TDS return, or challan details?

Since the challan has already been unfrozen, is any further correction or action required?

How can we claim the full refund of 100000.00 ?

Has anyone faced a similar issue and successfully received the full refund? If yes, please share the procedure.

I would be grateful for guidance from CAs and tax professionals who have handled similar cases.

Our objective is to claim the full refund of 100000.00 as the TDS was deducted and deposited by mistake.

Thank you for your help and valuable suggestions.

Dear Sir
Let me Know what is Purchase Entry Passed in Books of Account.

Thanks

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.

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.