SFT4 reported in 26AS its effect in ITR3

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dear sir r madam
10+lac credited to SB account by deposit it is reflected in 26AS. is there any disclosure required in ITR 3 for the same while e-filing the return or any other form is required to file in this regard.
thanks in advance
regards
Vijendra
Replies (10)
Are you doing any business?
Jewel n gold valuer in bank getting income n tds is deducted under 194j
Then you should file itr 2 and no such disclosure is required in itr 2
Under which section or head under should I disclose this income (which is deducted under section 194)
You should it as income from other sources
I have a shop of jewellery work earlier right now also I have but not much active hence earlier years returns filed under business income
In that case you have to file itr 3
Is der any disclosure required in ITR 3 of SFT4 shown in 26AS
SFT transactions incurred by you will be reported by the respective reporting entities to the IT department. Incase your 26AS incorporates these transactions, you simply need to ensure that the income related to those transactions has been duly offered to tax / accounted for. Any mismatch or discrepancy between the high-value transaction viz-a-viz the tax return filed by the assessee can trigger the issuance of notices by the IT officers.

For eg. If you have done a Fixed Deposit with a bank for say Rs 15 lacs during the FY, then the same will appear in 26AS as per the reporting done by the bank. You have to ensure that you have appropriately accounted for the income from which FD is made and interest income earned from that FD while filing your tax return.

So, the SFT transactions appearing in your 26AS are correct and you are accurately filing tax returns, just go ahead and file your ITR same as in a normal scenario.
Sir kindly check n suggest pls


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