ITR - 1 Issue - Defective return

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This query is : Resolved

Sumeet Das (Querist)

26 July 2024 I got following notice:

You have filed your income-tax return in form ITR-1. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94M/94S/94C/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-1 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-1.

I checked my AIS and have the following three TDS:
1) Salary - TDS 192 - Salary Received (section 192)
2) Business Receipts - TDS 194H - Commision or brokerage received (section 194H)
3) Receipts on transfer of virtual digital asset - TDS 194S - Amount received on transfer of virtual digital asset (section 194S)

For point 2 and 3 above, the count is 1 each and the amount received is below Rs.100 on both the cases.

Which ITR to file now?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

26 July 2024 File ITR 2. Declare the income in (3) in Schedule VDA.
For TDS on commission income, Go to TDS 2 column, & edit the details of source of income to OS. Declare the income under schedule OS.

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