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New ITR FORMS 1 AND 4

06 June 2025

I am trying to file return on ITR1 and find that there is no provision to report SFT transactions of mutual funds sold during the year for reporting capital gains. Anybody can explain how to proceed since capital gains upto Rs 1.25 lakhs can be shown in ITR 1

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6 Replies

Rama chary Rachakonda (Master in Accounts & high court Advocate) (8382 Points)
Replied 06 June 2025

It looks like the GST portal has recently enforced mandatory separate HSN-wise reporting for both B2B and B2C supplies in Table 12 of GSTR-1. This means that even if you only have B2C sales, you still need to separately report HSN details for them.

Here’s what you can do to resolve the error and file your return: Go to Table 12 of GSTR-1 on the GST portal. Ensure that B2C HSN details are entered separately from B2B.

The system won’t allow filing unless this segregation is done. Use the dropdown list provided by the GST portal to select the correct HSN code.

Manual entry of HSN codes is no longer allowed. Validate the taxable value and tax amounts to match the outward supply tables.

Save and file your return as usual. If you’re still facing issues, try preparing the HSN data offline using the Excel template provided by GSTN and upload it after verifying the B2B/B2C segregation.

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Ranjan (Mr) (301 Points)
Replied 07 June 2025

Dear Rama Chary

Anant is asking about ITR-1 problem, not about GSTR.

Your vast experience is required for answering the ITR-1 issue

Rgds

sabyasachi mukherjee (27803 Points)
Replied 07 June 2025

Itr 1 excel utility file is not enabled.

Ranjan (Mr) (301 Points)
Replied 07 June 2025

For Sabyasachi

Dear, your comment is utterly confusing for me.

Are you talking about submitting the return using the ITR-1 excel utility?

The return can be uploaded only as a json file, which has to be created from the excel utility.

Are you saying uploading the created json file is yet to be enabled?

Although, I have not yet filed my return awaiting stabilizing of my AIS, TIS, 26-AS, the Income Tax Department has mentioned that many lakhs or millions of ITRs have been filed after the excel utilities were released on 4th June.