I have booked a flat in a multi-storied complex (being constructed by a builder), for 1 Cr. in joint name with my spouse (say, in names “A” & “B” with 50-50% holding each as per agreement). Installments are linked with the construction stages spread over 3 years and payment commenced from January 2023. By now, 6 installments have been paid in the past 18 months corresponding with 65% constructi...
Dear Sir,
Need your advice against following sale of old property & purchase of under construction property w.r.t. capital gain rule.
I have entered into an “agreement for sale without possession” during Dec’22 for under construction flat with builder for which physical possession is expected by April’26.
Details of payments of under construction property & sale of old property are as below:...
Error Description
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 for...
Can you help me to provide response to notice & correction in ITR
Error Description
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 impl...
Respected Sir/Madam,
This is regarding Capital Gain Tax on urban agriculture land.
My father sold our ancestral agriculture land (urban agriculture land) to a company on the deferred payment plan in which 15% of the land consideration value is received (between Jan 2024-July 2024) and remaining 85% value of the land will be received after 18 months (Dec 2025). Land is handed over to the compa...
Error Code : RULE_37BA_194M_001 Error Description 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. I...
Got below Response from CPC Bengaluru, Which ITR form I need to use for the notice Error Description 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 ...
Error Description
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 for...
got error RULE_37BA_194M_001. You have filed your income-tax return in form IT-1. As per TDS details in your You are being provided with an opportunity to make necessary corrections and Form 26AS, taxes have been deducted under sections file a return of income in the appropriate form so that income and taxes may be 194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax determined c...
My father gifted a land to myself and my brother in 2019. He himself bought the land in 2003.
Myself and my brother obtained a permission to build a building on this land in 2021 and constructed a house and finished it in 2023. We sold parts of the building in 2023 ( 60%) to different buyer after completion of building construction.
Upon consulting with a CA, they mentioned the underlying l...
Hello
I have received/vested RSU of foreign company since 2021 as below
Jul 2021 - 27
Jul 2022 - 27
Aug 2023 - 28
a. I have received $5 dividend in Jan 2021 to Dec 2021 as per 1042S Form
b. I have received $18 dividend in Jan 2022 to Dec 2022 as per 1042S Form
c. I have received $42 dividend in Jan 2023 to Dec 2023 as per 1042S Form
I am filing ITR for FY 2023-24 ( AY [deleted...
Error Description
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 for...
Error Description
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 for...
I want to buy a resale flat from sellers (A&B). They purchased the property in Nov,2016. The ready reckoner rate (circle rate) in Nov,2016 was Rs.87,50,000/- but the consideration they paid was 1,18,00,000/- and made agreement and registered the property. As on July,2024 the ready reckoner rate is Rs.1,05,00,000/- and we have agreed to made an agreement value for sale of Rs. 1,05,50,000/- Now m...
Error Description
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 for...
Received Notice for filing ITR-1
Got below Response from CPC Bengaluru, Which ITR form I need to use for the notice Error Description 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...
Error Code : RULE_37BA_194M_001
Error Description
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....
I got error RULE_37BA_194M_001.
You have filed your income-tax return in form IT-1. As per TDS details in your You are being provided with an opportunity to make necessary corrections and Form 26AS, taxes have been deducted under sections
file a return of income in the appropriate form so that income and taxes may be
194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax dete...
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 requir...
I received a notice regarding income tax form-1 as follows "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...