ITR filing season ... feel free to ask any queries regarding ITR filing
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No tax on fd but you will need to pay tax on interest on that fd
I am a salary employee 5laks below first time I want an ITR filing if I am filing what benefits in the feature it's use of me Or not.
File the itr . Helps in future to get loans etc.
Please check and let me know what to do, as I have income from Salary and holding some crypto currency and sold crypto coins worth rupees 1 thousand.
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.
Need to check your dorm 26as
Any dedicated CA to assist us in filing ITR for a small corporate? Preferably in Delhi
I am central government employee.annual income is around 10 lakh.
Due to some financial problem i rotated money from my ICICI credit.Actually i transferred amount to my sister/Brother account from my credit card as tuition fee or house rent. I was doing it every month after bill generation and paying last month due.
Now in my AIS it is showing around 16lakh rupees transactions of ICICI credit card.
While my annual income is 10lakh.
I haven't filled ITR for FY23-24yet.While i am trying to fill it is showing you have earned some amount from winning lottery(won Rs.716 from dream11) so you can't fill ITR-1
I will have to fill ITR-2
Kindly tell me what should i do now??
Can i claim some medicine bill amount in 80D? I don't have medical insurance
What's your age?
Plz tell me commodity f&O trade count in speculative income or non speculative income?
How to show UPI transactions
Business income?
Want to know when the refund gets issued
Anyway , it comes normally in 15 days to 5 months time ..
For FY 24-25, I have opt for New Regime but now my expected annual income after all deduction is 843000 from April 24 to March 25. Which means I have to pay around 35k tax under new regime which would be automatically deducted by employer in Feb-March 25.
Does changing to new to old would also allow me to claim TDS refund which was deducted with New Regime while filling ITR next year? Reason behind asking is I have active home loan having 2lac + interest paid plus some amount in PPF, PF etc.
Also, this year my total income is under 7lac, should i stay under new or fill old which might be beneficial for next year?
Stay in new in current year. Shift to old for fy2425
In FY 23-24, My taxable income from salary + FD interest is 7.47 lacs and I am opting new regime since there is no tax till 7.5 lacs(considering 50k Standard deduction). But I sold an IPO and got 4k profits, now If I file ITR1 and doesn't show that 4k profit, I need to pay 0 tax, but if I file ITR2 and show that 4k profit then my income will cross 7.5 lacs and then I need to pay tax. What should I do? Any suggestions experts
Pls pm .... This needs to be checked and adjusted.
Which itr form should be filed if income is from stocks and freelancing only (approx 10 lacs) can we claim 10℅ tds as refund..
Can we take NPS benefit in new regime??
No. Only employer contribution is allowed on new regime. Employee contribution can't be availed.
I have made a huge mistake .. circulating via rent and made purchases for friends total of 12L reported in AIS by ICICI credit card. My salary is around ~6L and this year i have booked 80k LTCG . Is there a way i can justify that in new regime 
. I don't want to pay tax on 12L any suggestions will be helpful 
What's the section to check meal wallet deduction?
Your employer will take care of it in form 16. So not to worry. also under section 17.. upto 2200 rs per month.. it is tax free.
Should I show any money I got from my mother in ITR? It's already taxed on her name.
Is it huge amount? We take call based on materiality of amount and depending on your income. So if it is a small amount you need not show it. Else it can be shown as gift received.
@third.i.financial.advisors In new tax regime, if employer doesn't provide it in salary breakup, can we still claim "Conveyance Allowance" exemption u/s 10(14)(ii) when filing returns? What's the maximum amount that can be exempted?
Upto 19200 per annum. Ask your employer why they are not giving deduction for that.
I filed ITR-1 and then received SMS that it's defective. Email says that I will get option of Online ITR form but it's not there. Do I need to change to ITR-2 or ITR-3? I have Income from salary and sold Rs. 1500 worth crypto last year on which TDS was deducted.
One small mistake and many consequences. Better leave crypto filing to professionals. Crypto can be shown in both itr 2 or 3. 2 would be easier
Got leave encashment on switching job. Is it taxable or some portion is tax free
I have a fno loss of 10 lakh. When I file it using cleartax it ask me to provide balance sheet in which asset and liability must be equal. Asset I don't have much and liability are around 7 lakh since I took loan and lost it in fno. Now how to make balance sheet which eligible for submission?
10 lakh ka loss kar hi liya hai to kisi CA ko 5000₹ de kar usi se karwa lo. Don't do it yourself
A friend of mine made F&O losses of around 4-5 lakhs in last 3 years. But his accountant did not bother to show it as losses in ITR ( Probably he was lazy or didn't know how to show it)
Last year he made profit of around 10Lakhs from F&O.
What can be done now to prevent STCG?
People sometimes take their own decisions while filing returns. It takes more time and energy to prepare a loss return. And it costs more. People reject it due to cost too. But they will save some 2000 rs in filing it themselves ... but later will lose lakhs together due to one bad decision taken years before. ... He could have saved saved 1.5 lakhs in tax now if it was shown properly then.
I had my income reaching 750000 for this year, then I redeemed an amazon pay voucher which I had got last year from my company worth 33K, now my taxable income on my company portal is showing as 7.7L, and I need to pay 21K tax this year, however my other colleagues are tax free because they didn't redeem their voucher so their income is below 7.5L, can anyone pls tell me how to reduce this 20K to be in no tax bracket? I'm feeling very sad due to this. (My regime is new tax regime)
How to avoid tax for interest on savings account 
Leave encashment is deductible for retirement case only? Or other leave encashments can also be added in relevant Schedule?
Should I file a revise return without replying to 139 (9) defective notice. Is that will work? Or it is mandatory to reply to 139(9) notice.
I sold TCS share in buyback in <1 year. Should I Pay STCG or not required
Suppose i get Rs 1 cr from parents as gift for business/relocate for work/investment/etc & it gets transferred to my account & later converted to the form of an FD. Will this Rs 1 cr be fully taxable or only the annual interest on FD would be taxable? How to save tax on this ? Thanks
But I read somewhere it's advisable to keep it under 15L per annum.(To keep the IT dept from sending you notices or something).
There is no tax liability for you in the transfer. But any interest you accrue will be taxed at your slab rate.
There are many tax saving avenues available based on your investment. Fd's are taxed in every year no matter the tenure or interest receipt.
Employer selected New Tax regime & there was no option to change it. I was advised by HR team to change regime while filing tax. Now Form-16 does not have any deduction details (HRA/LTA).
Q1: Can I claim these deductions even if they are in Form-16?
Q2: What proofs should I keep with me in case of verification later for these deductions.
For Dream11 profits, which section in ITR-2 we need to specify?
How can a private employee save 1L tax with old regime if already HRA, PPF(1.5 L) are there?
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how to reduce ltcg from mf ? (for re we have nhai & rec )
or charity etc ?
I have allotted one IPO and the same day of allotment, I sold it. This txn will come under intraday or STCG (15%) means I have to fill ITR 3 or 2 in this case ?
Like the op said, logically it's intraday but
The law can be interpreted here. This can be considered as short term,
1. As this is a rare occurrence for you.
2. And this is MY REASONING, quite brilliant, if I can say so myself
You may have sold the stock on listing day. But
The shares are credited to the buyer's account, a day before the listing day.
So technically, you bought the stock the day before and sold it the next day.
This makes it short term. So filing itr2 should be enough. Pay 15% + cess as stcg tax.
Hopefully I'm right about this.