Can a parnership firm insert a clause in its deed wherein it is stated that the Interest on Capital will be payable to the partners at rate not above 12% and the same shall only be payable on the opening credit capital balance of the partners.No interest shall be payable on the capital withdrawn or introduced during the Financial Year for which the Interest is to be calculated.

Dear Sir/Ma'am,
This query is pertaining to AY 2024-25.
I had filed the return u/s139(1) under old regime where I had claimed 100% deduction for donation made to "The National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities constituted under sub-section (1) of section 3 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999". However, few days ago I have received an SMS alert from the income tax department saying that "Our records show that you claimed charitable/relief fund donation deductions in your AY 2024-25 ITR. However, based on the PAN you provided, the organisation you donated to may not be eligible for the deduction you claimed.

You need to update your ITR to either add the correct PAN or remove the deduction. To do this,visit https://www.incometax.gov.in. Once logged in, navigate to “e-File” → “File Income Tax Return → “Select Assessment Year” → “Select Filing Type” → choose “139(8A) - Updated Return” → “ Select ITR Type” → “Continue” and update section 80G/80GGC".
As per the provisions of section 80G, donation to the above entity is eligible for 100% deduction.
Now I am getting a tax payable along with interest u/234A, 234B and 234C to pay the tax on this donation amount.
Can anyone please guide me how to resolve this query.
Also is there any way in which I can verify the PAN of the Donee Entity.

मैंने 16.10.25 से 18.10.25 के बीच अपने 2 बेटों को 30 और 20 लाख RTGS और cheque के माध्यम से दिए जिसकी उन्होंने अलग अलग बांको में FD बनाई जो 10 लाख से नीचे की हैं l

ये पैसा मुझे govt service से 36 साल की service से retirement के समय मिला था l

18.11.25 को e-stamp पर gift deed बनाई थी जिसपर 100 रुपए की stamp duty लगी.

sir मेरे सवाल हैं कि.....
1.अगर बेटे मुजे पैसे वापस करना चाहते हैं तो क्या मैं वापस अपने अकाउंट में rtgs करवा सकता हूं? बिना किसी Tax complication के?
2. क्या दुबारा गिफ्ट deed बनाने की जरूरत होगी गिफ्ट ftom son to father?

3. क्या गिफ्ट में मिला हुआ पैसा ITR filing करते समय उसमें दिखाना जरूरी है?

4.अगर incone 4 lakh se कम हो तो फिर भी ITR भरनी पड़ेगी क्योंकि 30 लाख gift में मिला है और उसे दिखाने के लिए ITR भरनी ही है?

5.पैसा वापस अपने account में बेटों से लेने से tax Deptt कोई सवाल तो नहीं करेगा और ये legal है?
या फिर
6. अगर gift deed पर donor और donee किसी के भी signature न हुवे हों तो क्या मामला अलग treat किया जाएगा?

6. क्या बेटे अभी ये पैसा mother को gift कर सकते हैं? बिना कोई टैक्स complication के?

7. पिछले financial year में भी बेटे को 20 लाख gift किए थे जिसकी उसने 2 बैंक में fd करायी थी 10 लाख से नीचे और उसकी सालाना income 3 लाख से कम थी, इसलिए ITR नहीं भरी थी लेकिन Deptt से कोई question नहीं किया गया l क्या ये ठीक था कि ITR नहीं भरी?

I am a wholesaler of Raw Tobacco. What is the implication of the new notification no. 19/2025 dated 31/12/2025.
how to raise an invoice and how to show the excise?? Weather I have to apply for excise registration?

Hi everyone,

I’m trying to amend Form 26QB on the TRACES website and running into a strange issue.

• I submit the amendment request.
• I get a confirmation saying the request has been successfully submitted.
• When I check the Request Status after about 10–15 minutes, it shows “Declined.”
• The PAN and Acknowledgement Number entered are correct.

This is happening for multiple Form 26QB filings that were filed incorrectly and now need amendments.

I’m trying to understand:
• What are the common reasons for an amendment request getting declined after successful submission?
• Is this usually due to a validation issue, timing issue, or a known TRACES system bug?
• Are there any specific checks or prerequisites I should verify before re-submitting?
• Is there a recommended workaround, like waiting longer, re-filing at a certain time, or using a different correction type?

Any guidance from someone who has dealt with this recently would be really helpful.

Thanks in advance.

Hello

Getting the cited message though I havn't claimed deduction u/s 54F. How to resolve this ?
Pls help

Sir/Mam,

Composition Dealer GST Annual Return Filing Due dates, what is penalty and is it mandatory

plz explain

Thanking you,

After reading a few questions on tds under 195, I got a few questions, if anyone can kindly help me understand.

1. If I purchase courses from coursera for personal use. The invoice mentions their foreign address. Do I need to deduct TDS under section 195. I have also purchased a few courses from udemy but the invoices mention Haryana office.
2. As a part of the same question, do I need to deduct tds for payment to Netflix and prime video. Both of the invoice have the India address of Netflix and prime.
3. I have also booked travel air tickets from Agoda and few sites which also have their foreign addresses in the invoice. Do I need to deduct TDS in this case?
4. Also, as an individual, what should I check to know if I need to deduct TDS?

As an individual with no audit or anything, is there any scrutiny for these things

One of my GST client had expired during Feb.2025. Can his assistants/relatives file his pending GST returns ? Because many pending transactions (Sales) are to be executed at all cost.

If Person is Unregistered in GST Act & Providing DSA Service & Earning 60 lakh Commission from NBFC.
Weather it is required to get registered under GST Act or RCM Provision is apply on NBFC.
if person take GST Number then on such commission income tax liability is on NBFC or Registered Person?