Goodafter noon SIR

A private limited company is paying salary to her director and director has given a loan of Rs 50 lacs without interest. Please let me know the due date for filing ITR of the director.

REQUEST FOR URGENT REPLY
EPFO paid higher pension arrears in range of 10 to 20 lakh to EPS pensioners after deducting TDS. However, the TDS was originally reported in Form 26AS/AIS under section 192A (PF withdrawal) instead of section 192 (salary/pension). Many pensioners have raised the issue with EPFO through emails and other representations. EPFO has not issued form 16A
Thereafter, EPFO filed a revised TDS statement and the incorrect section 192A entry has been reversed. However, the corresponding section 192 TDS entry has still not appeared in my AIS/Form 26AS.
In these circumstances, what is the appropriate course of action?
1) Should I file my ITR including ARREARS within the due date by claiming the TDS manually, relying on the original AIS/Form 26AS and other supporting evidence. In this case TDS amount I will have to enter manually. EPFO informed that within week TDS will appear in AIS. I have already file form 10 E for claiming relief u/s89
2) Or Should I file my ITR without arrears as arrears entry appeared in AIS is now reversed by EPFO. However, I think that non reporting arrears is not correct approach, as fact of arrears received and TDS deducted can’t be denied.
3) Or should I wait for the corrected TDS to appear in AIS/Form 26AS, even if that results in filing a belated return? In this case unnecessary penalty of 5000 will be levied by department as total income is above 20 L.
Considering the above facts, what would be the most appropriate and legally correct approach?

My ITR for AY 2025-26 (FY 2024-25) was filed on 15.09.2025 as ITR-4 under Section 44ADA by my tax consultant.

Unfortunately, while filing the return:

1. The TDS of approximately ₹37,500 deducted by the buyer u/s 194-IA on sale of my residential property was not claimed in the ITR, although it is duly reflected in Form 26AS/AIS.
2. The return was processed u/s 143(1) on 15.10.2025 exactly as filed and therefore no TDS credit/refund was granted.
3. No revised return was filed before the revision deadline.
4. I also had a Long-Term Capital Loss of around ₹10 lakh on the property sale, which was not reported in the return.

My queries are:

1. Since the omission was in the original return itself, can I still seek rectification u/s 154, or is such rectification not maintainable?
2. If Section 154 is not available, is an application u/s 119(2)(b) the correct remedy for claiming the missed TDS refund?
3. Can the omitted LTCL also be considered under the same remedy, or is that permanently lost because it was never reported in the original return?
4. Has anyone successfully obtained relief in a similar situation?

I have a doubt in ITR-3.

Could you please clarify the difference between Item 61/62/63 - Computation of Presumptive Income and Item 64 - IF REGULAR BOOKS OF ACCOUNT OF BUSINESS OR PROFESSION ARE NOT MAINTAINED, furnish the following information for previous year 2025-26 in respect of business or profession

GOOD AFTERNOON SIR
HOW ARE YOU SIR
The issue is related with the rate of Closing Stock in Tally Prime. Since the basic formula is input less output for closing stock working wherein the rate gets auto generated. Since we want to put our rate for closing stock working. How to change the autogenerated rate with our rate is the main issue e.g. as at 31st March autogenerated rate is 200 but we want to change it with 100 only and only for the day of 31st March. Not only that much but the very next day of 1st April again auto generated rate should reflect as usual.

I am an individual trader having only F&O trading income. My F&O contract/sale value is ₹64 lakh and I have incurred a net F&O loss of ₹1.17 lakh, which I want to carry forward. Will tax audit become applicable merely because I have incurred a loss? If tax audit is not applicable, while filing ITR-3 should I report my turnover as the ₹64 lakh contract/sale value or as the F&O turnover computed as per the ICAI Guidance Note (absolute profit/loss method)? Also, how should I correctly report the turnover and business loss in ITR-3, and which schedules should be filled to ensure the loss is validly carried forward to subsequent years?

Hi,
if HO receives invoices for services like AC/Fire/Security AMCs, Rent, Printers on rent, Internet, and Telephone, can ITC be retained exclusively at HO? Or is ISD mandatory under amended Sec 20? Does exclusive physical usage at HO allow 100% direct ITC claim at HO without ISD distribution?

MR. A HAS CASH GIFT RECEIVED FROM HIS SON RS. 1,90,000/- AND WIFE RS 1,90,000/- AND HIS BROTHER IN LAW RS. 1,90,000/- AND BROTHER RS 1,90,000 FOR THE ASST -YEAR 2025-26 AND HIS CONTINUED FORTHER FOR TAX YEAR 2026-27 FOR SAME PERSON AND SAME AMOUNT. THIS CORRECT THIS BY LAW

THANKS

Sir
One govt corporation (say A)given a building to another Govt owned corporation(say B) on permissive possession basis.
'A 'claim rent on that building given to 'B'.
My query is can A claim rent from B on that building given on permissive possession basis?
If they claim 'Rent' can it be treated as 'Rent''?
Actually what is the legal status of 'Permissive Possession'?
Regards
Abhijit

Hi Colleagues,
I wanted to flag a backend coding error I encountered on the live Income Tax e-filing portal for AY 2026-27 while filing ITR-4 for a Partnership Firm engaged in the goods carriage business.
As per the proviso to Section 44AE(3), a partnership firm can claim a deduction for partner salary and interest subject to the limits of Section 40(b).
However, the "File Online" web utility has a mapping bug:
Field E5 auto-calculates the Gross Presumptive Income under 44AE.
Field E6 allows the entry for salary and interest paid to partners.
Field E7 correctly calculates the net amount (E5 minus E6).
The Error: At Field E8 (Income chargeable under Business or Profession), the portal completely ignores the net E7 figure. Instead, it forcefully pulls the unadjusted gross amount directly from E5.
Because the system locks Field E8, you cannot manually override it. The live web schema is essentially treating the firm like an Individual/HUF and disallowing the Section 40(b) deduction in the final computation.
.
I have already submitted a grievance ticket on the portal regarding this schema error. Has anyone else faced this exact issue with ITR-4 online this season? Let me know if anyone found a workaround within the live portal itself!

Thanks,
Srikanth