Notice on Income Tax


This query is : Resolved 

Quick Summary
If you've received a notice about your income tax return (ITR-1) due to TDS deductions under specific sections like 194IA, 194C, or 194S, you likely need to file a different form. These sections, often reflected differently in Form 26AS, require specific schedules not present in ITR-1. For instance, if you have long-term capital gains from crypto (reported under section 194S), you should file ITR-2 under section 139(9) of the IT Act and declare these gains in the VDA schedule.

(Querist)
23 July 2024 i got the following message ...
"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. "
which file should I choose? I also have long term capital gain of Rs. 90,00,000. where to file.

23 July 2024 Under which section/s TDS have been deducted (as per form 26AS/ AIS/TIS)?

chinna rao (Querist)
23 July 2024 194S as per Form 26AS.

23 July 2024 File ITR 2 under sec. 139(9) IT act and declare the capital gains from Cryto under Schedule VDA.

chinna rao (Querist)
23 July 2024 Thank you Sir......

23 July 2024 You are welcome.


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