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.

Experts /Sir,

Like all EPFO subscribers, EPFO Interest for the FY2024-2025 was credited in July 2025 i.e. in FY2025-2026 (IT AY2026-2027).
EPFO has deducted TDS for the Interest paid. Looks like EPFO has either not remitted the TDS to IT Dept. or have credited it against some other PAN than mine.
Both the Interest paid and TDS deducted does not reflect in my AIS or Form 26AS.

I have raised EPFO grievance and also sent EPFO Commissioner an email, but there is no response.

The only proof I have is the EPF Passbook/Statement downloaded from EPF website which shows Intt. paid and TDS deducted.
While filing ITR for AY2026-2027, is there a way I can claim this TDS without the AIS/Form 26AS reflecting the Intt. paid and TDS deducted ?
Appreciate your expert advice.

Good morning Sir,

I have a query regarding Section 44AD.

Can interest income earned from a money lending business be treated as business income and offered under Section 44AD? Or should such interest income always be shown under the head "Income from Other Sources"?

Could you please clarify the correct legal position and any relevant provisions or judicial precedents on this issue?

Thank you, Sir.

Respected Members,

I have a query regarding the reporting of Remuneration received as a Foreign Employee from a Foreign Enterprise, which is exempt under Section 10(6) of the Income-tax Act (subject to satisfaction of the prescribed conditions).

In the previous year, while using Spectrum software, we were manually entering this amount under exempt income, and the ITR was filed successfully.

However, after the latest software update for AY 2026-27, manual entry is no longer permitted. We have to select an item from the predefined list. Although the list contains **"Remuneration received as Foreign Employee"**, selecting this option results in a JSON validation error stating "Specify Category."

On contacting Spectrum support, their executive advised us to report this income under "Income Exempt as per CBDT Circular", after which the JSON is generated successfully.

My query is:

1. Is there any **CBDT Circular/Notification** under which remuneration received as a foreign employee from a foreign enterprise is treated as exempt?
2. Since the exemption is available under **Section 10(6)** and not by virtue of any CBDT Circular, is it technically and legally correct to report it under **"Income Exempt as per CBDT Circular"** merely to overcome the JSON validation issue?
3. Has anyone else faced this issue in Spectrum or any other ITR utility? If yes, what is the correct reporting approach?

Any guidance or reference to the relevant provision, schema validation, or CBDT instruction would be greatly appreciated.

Thank you.

This version clearly explains the issue and is likely to get precise responses from practicing CAs.

PART-I - Details of Tax Deducted at Source
Sr. No. Name of Deductor TAN of Deductor Total Amount Paid/
Credited
Total Tax Deducted # Total TDS
Deposited
1 PUNJAB NATIONAL BANK CIRCLE OFFICE HYDA02285D 80.00 25.00 25.00
Sr. No. Section 1 Transaction Date Status of Booking* Date of Booking Remarks** Amount Paid /
Credited
Tax Deducted ## TDS Deposited
1 195 03-Mar-2026 F 10-May-2026 - 19.00 5.00 5.00
2 195 02-Dec-2025 F 25-Jan-2026 - 19.00 6.00 6.00
3 195 04-Sep-2025 F 22-Oct-2025 - 20.00 7.00 7.00
4 195 01-Jun-2025 F 25-Jul-2025 - 22.00 7.00 7.00

Above is form 26 is showing receipt of foreign remitance under section 195
Receipt of foreign remittance
SR. NO. INFORMATION CODE INFORMATION DESCRIPTION INFORMATION SOURCE COUNT AMOUNT
1 TDS-195 Payment received by non-residents (Section 195) PUNJAB NATIONAL BANK CIRCLE OFFICE (HYDA02285D) 4 80
SR. NO. QUARTER DATE OF PAYMENT/CREDIT AMOUNT PAID/CREDITED TDS DEDUCTED TDS DEPOSITED STATUS
1 Q4(Jan-Mar) 03/03/2026 19 5 5 Active
2 Q3(Oct-Dec) 02/12/2025 19 6 6 Active
3 Q2(Jul-Sep) 04/09/2025 20 7 7 Active
4 Q1(Apr-Jun) 01/06/2025 22 7 7 Active
Note - If there is variation between the TDS/TCS information as displayed in Form26AS on TRACES portal, and the TDS/TCS information as displayed in AIS on Compliance Portal, the taxpayer may rely on the
information displayed on TRACES portal for the purpose of filing of tax return and for other tax compliance purposes.
Part B2-Information relating to specified financial transaction (SFT)
Interest from savings bank
SR. NO. INFORMATION CODE INFORMATION DESCRIPTION INFORMATION SOURCE COUNT AMOUNT
1 SFT-016(SB) Interest income (SFT-016) – Savings PUNJAB NATIONAL BANK (AAACP0165G.AB690) 1 80
SR. NO. REPORTED ON ACCOUNT NUMBER ACCOUNT TYPE INTEREST AMOUNT STATUS
1 24/05/2026 13132191022401 Saving 80 Active
SR. NO. INFORMATION CODE INFORMATION DESCRIPTION INFORMATION SOURCE COUNT AMOUNT
2 SFT-016(SB) Interest income (SFT-016) – Savings CPRC CHENNAI (CHEC18029E.AP563) 1 27
SR. NO. REPORTED ON ACCOUNT NUMBER ACCOUNT TYPE INTEREST AMOUNT STATUS
1 09/05/2026 3922956868 Saving 27 Active
SR. NO. INFORMATION CODE INFORMATION DESCRIPTION INFORMATION SOURCE COUNT AMOUNT
3 SFT-016(SB) Interest income (SFT-016) – Savings ICICI BANK LIMITED (AAACI1195H.AB286) 1 2
SR. NO. REPORTED ON ACCOUNT NUMBER ACCOUNT TYPE INTEREST AMOUNT STATUS
1 29/05/2026 112001503612 Saving 2 Active
above is AIS statement showing foreign receipts and savings interest . very small amounts though in actual no foreign receipts were done.
how do I report in ITR 2 as a NRI account holder .under which heads.Please guide. actually I am the father who every year files the ITR. for my NRI son. The interest on savings with TDS is correct in 26AS and AIS. But receipt of foreign remitance in micro amounts is not really done. but it seems bank has to report it .but what and how do I report in itr2?

Dear Sir,
We have received a purchase order from M/s. XXX Ltd. for USD 22,000. Against this proforma invoice, we have received an advance payment of USD 10,000. However, the remittance was received from an individual instead of M/s. XXX Ltd.
We approached our bank for guidance, and they advised that the following documents should clearly mention the buyer's company name and the relationship between the remitter and the buyer:
Commercial Invoice
Bill of Lading
Shipping Bill
A declaration explaining the relationship between the remitter (individual) and M/s. XXX Ltd.
In this situation, could you please advise whether any additional documents should be obtained from the customer before we proceed with the shipment? For example, would it be advisable to obtain:
A letter from M/s. XXX Ltd. confirming that the advance payment made by the individual was on their behalf.
A declaration or authorization from the individual confirming the payment was made on behalf of M/s. XXX Ltd.
Any other supporting documents required for banking or export compliance.
Kindly advise the complete documentation required to avoid any issues during export documentation, bank negotiation, or realization of export proceeds.

Dear Experts,

The assessee has sold delisted shares bought 15-20 years back having negative book value in off market deal for 1500/- and shares transferred to buyer in Demat account incurring loss of 98000/-. These shares are not traded on the exchanges in last 5-10 years.
Does section 50CA applies to these transactions? If yes, how one can find FMV in absence of financial data for many years? Where it is to be shown in the schedule of Capital Gain?
Secondly, while filing return in form 3 for AY 2026-27 under new regime, the assessee has total income of 16 lac comparing of LTCG u/s 112A Rs. 7 lac and Normal income of Rs. 9 lac. The utility calculates tax on Normal income and Special rate income and allows 87A rebate on tax on normal income.
Is there technical glitch or it’s a correct position?
Your guidance will be highly appreciated.

Thanks

Sir/Mam,

Exports Sales details entered in Table 6A and HSN Details entered in Table 12 But I have received message HSN wise total B2B Value not matching , I am having doubt in Table 12 Particularly no option to select export.

One more doubt after preparing e invoice automatically showing details in GSTR1 Table 6A except shipping bill number date port code , this reason I had edited and entered shipping bill details and saving , einvoice IR Number not showing after that,

Please guide and explain above doubts how to solve

Thanking you,

Hi,
I want to know the practical solution for correcting mistake in e-invoice identified after 24 hours. While generating e-invoice GSTIN of the customer was wrongly mentioned but original invoice was raised with correct GSTIN. In GSTR 1 e-invoice auto-populated with wrong GSTIN. If I amend this in GSTR 1, Return will be correct but I cannot give e-invoice to the customer which in my view is as same as not generating e-invoice. How can I correct this mistake and give e-invoice to the customer and make necessary entries in books of account?

We have filed Income Tax Return for AY 24-25 against which Income Tax have raised demand after adjusting TDS on Salary. Please suggest the solution for this to avoid tax payment.

"On perusal of the Return of Income filed, you have exercised the option of "Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed. However, the Form 10IEA has not been filed under sub-section (1) of section 139 for furnishing the return of income. Hence, your return of income will be processed as per the provisions of section 115BAC (ie., under the new tax regime) and deductions/ exemptions and tax rates as per the said provision will be allowed."