Correct Income Tax Return

Quick Summary
This discussion addresses common issues with filing Income Tax Returns, particularly when ITR-1 is used incorrectly due to specific TDS deductions. It clarifies that sections like 194IA, 194S (Virtual Digital Assets), and others necessitate using more appropriate forms such as ITR-2 or ITR-4. The conversation also touches upon exemptions and deductions for Virtual Digital Assets, stating that generally only expenses directly related to the transfer are allowed, not broad exemptions.

yes , it is 194C



File ITR 4, u/s. 139(9) in responce to the 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.

 

salary income and rent .TDS is deducted under  is 194L(b) . please suggest 

@ sandesh

File ITR 2. 

Hello @ Dhirajlal sir I have TDS deducted u/s 194BA. Which ITR should I file ?

File ITR 2. (if no income from business activity.)

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