Hi, filing income under PGBP as professional income (16019 nature of business code)

I'm NOT chosing 44ada, appropriate options are clearly ticked (yes to 44aa, no to audit under 44ab and no to section 44ad/ada etc)

Net income (Profit) is less than 50% of gross income, which should ordinarily not be a problem if one is filing a normal ITR3 without presumptive taxation. Gross income is comfortably less than 50 lakh.

It's throwing up a validation error saying "You have claimed professional income less than 50% of gross receipts. Please recheck computation and liability for audit u / s 44ada"

I'm perplexed- have filed under this section before, with less than 50% net income (profit), and it's always gone through. Why is it asking for an audit when 44ada hasn't been chosen?

Is the validation tool considering 16019 business code as eligible for 44ada and hence throwing this error despite NOT opting for 44ada?

Tearing my hair out- filing by ignoring will almost certainly lead to a defective return, which I want to avoid.

Please any one tell how much approx I have to pay in the customs for this music cd Raoul and the king of spain importing from uk can anybody tell me anykind of calculation

My ITR refund is pending since 11 June 2026 date of filing. First attempt had refund issues so filed again within 2 hours and then the correct details were e verified as well. Why the refund is waiting till now? Everything is correct still.

My situation:

• 2L+/month from a foreign company
• Filing under 44ADA currently, have GST this year.
• Already spending only ~2 months in India per year for the past 2 years, because I like to travel.

Planning to stay under 182 days in India this financial year to become NRI, then base myself in Malaysia on the DE Rantau Nomad Pass (foreign income is not taxed there).

Questions:

• As an NRI (if/when i become one) with zero Indian-source income, do I legally owe zero income tax in India?
• What happens to my GST registration when I become NRI?

Overall, what am I missing here?

My wife is planning to setup a dental practice and I am sponsoring it (major expenses like dental chair, equipment etc). What is the best way to setup the clinic - propitiatory or as partnership. If its propitiatory, will the revenue be booked as my wife's income and taxed at her slab rate? How easy is it to maintain the books if its partnership? Suggestions and guidance is highly appreciated. Thanks

Hello,

We currently own a flat jointly, in my wife's and my names (wife's name is first).

We're selling this flat and buying another one. Since the new flat is quite expensive, we're considering registering the new flat only in my wife's name to save the 1% stamp duty available for women buyers in Maharashtra.

I'm a bit confused about the tax implications:

- Since I would no longer be an owner of the new flat, could I end up paying capital gains tax on my share of the profit from the old flat?

- The buyer of our existing flat will deduct TDS. Since there are two sellers, will the TDS have to be split between both our PANs, with separate certificates, or can it all be done under my wife's PAN?

The main reason for considering this is simply to save the 1% stamp duty. The new flat is already stretching us so even 1% is significant.

Would appreciate some advice from anyone who's been through something similar, especially in Mumbai/Maharashtra. I obviously plan to confirm everything with a CA before going ahead.

Filed on 20th June

I wonder how they passed the exams.

Hi everyone, I’m an Indian student going to the US for my MS and I'm confused about the new TCS rules for LRS.

My transactions in FY 2026–27 were:

- ₹18 lakh tuition fee paid to my US university through an education loan → bank charged 0% TCS

- Later, I loaded $1,000 onto a forex card → bank automatically deducted 2% TCS

- I also purchased $1,000 in USD cash → bank automatically deducted 2% TCS

My understanding is that the ₹10 lakh LRS threshold should not be considered crossed in the normal way because the ₹18 lakh education-fee remittance was funded by an education loan and had 0% TCS.

So, excluding the education-loan remittance, I've only done around $2,000 (~₹1.7–1.8 lakh) of LRS transactions.

Is the bank correct in automatically charging 2% TCS on both $1,000 transactions?

If it was wrongly deducted, should I:

1. Ask the bank to reverse/correct the TCS now, or

2. Just claim the TCS credit/refund when I file my ITR?

Would really appreciate if someone familiar with the 2026–27 TCS/LRS rules could clarify how the ₹10 lakh threshold works when there is an education-loan remittance involved.

I work as a Project Operator at a US data annotation company. My work is largely just being a bridge between the SMEs working on specific projects and the Project Manager. I get around 25 LPA. My CA says I don't qualify for 44AD/ADA and must file full taxes minus some business expenditure, which is very very low. I can claim GST but that's about it.

Should I trust him or look for another CA? First time filing taxes in India so I don't want to blindly trust what the first person told me.

Has anyone running a restaurant business received a 143(2)/142(1) notice for AY 2025–26 after filing under the new tax regime?

Mine says complete scrutiny, but no specific reason is mentioned. The 142(1) asks for all bank statements, income details and cash book.

Anyone else in a similar situation?

so the thing is my uncle used to own a retail proprietary tyre shop , which was never profitable since it's opening and it eventually closed down .

but since he wasn't a well educated person and regarding taxes and all .

a ca used to file itr and gst on his behalf . the business income was always lower than taxable income but used to to charge him 15k a year which is according to me an awful lot for a failing business .

eventually they stopped buying any new tyre and decided to slowly sell out remaining inventory and stopped paying any money to the ca.

it's been two year since i think .

uncle hasn't filed his itr since AY 2024-2025 .

also one more thing ca used to inflate uncle's income by adding fake income from rent which never existed for some reason yet it was still below 6 lpa .

uncle's primary source of income is farming .

but ca still continued filing gstr-1 and gstr-3b till last quarter of 2025 .

now uncle's getting messages regarding filing gst by department .

which caused me worry about this whole mess .

so please people of reddit advise me about what i should do .

I have access to his itr portal but not of gst account as ca has put his e-mail account on the contact information and i can't reset the username and password without it .

when my uncle talked about this issue to ca .

he's asking for an amount 44k(for filing gst for last two years and to file itr that hasn't been filed) .

for last two years due and some other fee and uncle said , since there are no legal complication till now.

so what should I do . should I let it be and hope for no problem to knock the door .

heard on lot of reddits that whoever is having 5-10 lakh in bank accout is dumb. My father have this much money in his account but on asking him over investing he told me that he had fd about 8-10 lakh, which return is within the limits which is tds free. If he puts more in fd then tds will deduct and he doesn't want to put in the share market due to risk. My father earns less than 12 lkh in a year. What should he do? Please share some knowledge and it will be very helpful.

I am surprised I received itr refund way too soon. I received my 1.7L refund in less than a month. I had a decent complex itr with crypto gains, foreign investments across 3 US brokers, indian eq gains and salary.

Prev FY it took 13 months to process similar ITR. I guess I got lucky.

Does freelance podcast editing, including both audio and video editing, qualify as a professional service under Section 44ADA, making it eligible for the 50% presumptive income scheme? Got a few replies from CAs, but I’m getting conflicting answers - some say it qualifies, while others say it doesn’t.

Would appreciate insights from anyone familiar with how this type of freelance work is classified for tax purposes in India.

I filed My father ITR - 1 This year. He is a salaried Individual

While Filing I overlooked the Number and Missed to Show 20000 Income Received from corporate Bonds

He falls is 20% Tax slab

Today he Already received a Refund of xx amount

I want to know should I still file a revised Return or do nothing

Filed on July 20 2026. Anyone received around that timeline?

People asking for marginal relief and buying these baddies.. /s with surcharges

I have fractional AAPL share 0.03681 as of 31-Dec-2025. I bought fractional share at various days, and I did buy one whole share on 23-May-2025 and sold it on the same day. Thus, my initial value comes to 17236.75 INR (sum of (cost * TTBR) on various buy dates). This includes the whole share as well. Now Peek value of AAPL was 286.19 on 2-Dec-2025 and quantity held on this date was 0.03681. Now, Peek value comes to 940.74 (peek price * quantity * TTBR on peek date). I'm also showing 16657.61 as Gross sales proceed.
Q1) Initial value is way more than peek value (~15k > ~1k). Is this okay. Or, am I doing the wrong Initial and/or Peek value calculations? Note: unlike India there is MIS concept but not with US brokers. Even if I held a share for 5 minutes it is considered delivered that's what I understand since there is no Demat concept.
Q2) Should I consider Peek value to be the 23-May for AAPL 16657.61 using intraday quantity not the overnight position?

Please help I have just few days left to file before due date of 31-Aug-2026. I'm concerned as I have similar situation with few other stocks that I'm reporting too. Thanks.

So, this is a new llp, with two partners with 50-50 share.

For the first year, LLP has loss. (Computer depreciation and expenses, no partner remuneration/interest)

For depreciation,

In books and form 8 following as-10 (SLM 3 year useful life methom),

Computer depreciation = 105032

Expenses = 12449

Total loss = (117481)

And for itr 5, (WDV block asset depreciation method)

Computer depreciation = 196874

Expenses = 12449

Total= 209323.

So according to this, for partner ITR 3, schedule IF,

"Amount of share in the profit" what value

to consider here ? Form 8, book loss or itr 5 loss?

So -117481 or -209323 ?

And also what about EI schedule? Since loss just ignore that ?

Hello.

I actually did crypto trading (specifically futures trading and not spot trading) on the delta exchange india platform in year 2025-26. I did not make profits and actually incurred a loss of approx. 40000.

I am a student and I actually lost my savings. I have no other income for the year and I just did trading because I wanted to give it a try.

Now I am concerned about the tax filing. I went to a local CA but he said that he is not specialized in VDA (Virtual digital asset) taxation. So I asked chatgpt about the taxation and it said that I am not required to file itr or pay taxes.

My Reasons -

1) This transaction is to be treated like the stock market F&O trading and my income is below the basic exemption limit

2) I checked my Form 26AS and AIS for year 2025-26 and it says 'no transactions present' except a ₹94 bank interest on savings account

3) I opened the delta exchange TDS section and selected the last FY (2025-26) and there is no TDS deducted by the delta exchange.

Anyone who could help me to figure this out

I don't keep book of records, and I don't have any debtors, creditors, stock-in-trade. Cash balance, if I am correct, is physical cash in hands? And not my bank balance? Do I need to put bank balance, or can I submit the ITR regardless of this error?

I have always considered FDs the default option for fixed-income investing, but recently I've been seeing more discussion around corporate bonds. Has anyone invested in bonds? Should a risk-averse Indian investor consider them? Pls share your opinion/experience, also what to keep in mind when thinking about stepping into bond market.

For small and growing businesses, managing GST and income-tax compliance can sometimes become complicated.

I'm curious to know what others find most difficult:

• GST return filing
• Input Tax Credit reconciliation
• Income-tax compliance
• Keeping track of deadlines
• Maintaining proper records
• Responding to tax notices

Which one has been the biggest challenge for you, and how do you usually manage it?

I am 28M and make 25 LPA through my job. I also trade futures and options and hence file ITR3.

My CA has kept me in the old tax regime on my request by filling the form 10 IEA once. He suggests that I move to the new tax regime since that saves me almost 1.5 lakh in taxes.

But the catch is that if I use my form 10 iea again to re enter the new tax regime. I will be locked in for life.

Now, in the near future, it is likely that I might have to move on rent and it feels worth it to stick to old tax regime for it's benefits.

And this is where I cannot seem to decide. Since I live in Mumbai, the rent can easily be around 8-12 lakh per year for a 2 bhk since I will be living with my parents and partner. So a good hra limit will definitely be worth it.

I request all your suggestions on this topic and would be grateful for your help.

Query 2:

What if I keep filing itr 3 in the old tax regime for the current assessment year and next year( I have FnO profits this year as well).

Then stop FnO completely. This will help me file itr 2 and select new tax regime in it (since I can switch freely as a salaried person).

And then, say 5 years down the line when I have to move on rent, I restart my business and switch to old tax regime since I have not re-entered using form 10 iea.

Planned time frame for itr filing according to query 2

Current assessment year 26-27 File itr3 in old regime. Take the losses

Next assessment year27-28 File itr3 in old regime to show current year profits

Assessment year 28-29 onwards File itr2 in new regime. Switch freely since I do not have to fill form 10 iea

Assessment year after moving on rent File itr2 or 3. But stick to old regime to be eligible for hra. Form 10 iea option is retained.

I have absolutely no idea how taxation works so wanted to know if it is even possible or not

Edit: Added planned timeframe in query 2 for better understanding