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- FILING AY 2018 19
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- e Grievance ( e Nivaran)
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- TAX COMPUTATION
- UTILITY FILING ISSUES
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- REVISION AND RECTIFICATION
  - Revised Return U/s 139(5)
    - Time period for filing revised returns
  - Rectification
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      - Return processed but revision needed
    - Rectification - Tax credit mismatch
    - Rectification - Taxpayer wanting to correct data
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- How to fill ITR
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Haritha

Category : Rectific..,

Solved

October 4, 2018 11:05 am

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Rectification - Tax credit mismatch

Hi Sir,

I have bought a car in Feb 2018 and paid an advance tax of 12000. i have filed ITR-1 indicating the TCS details as 12000. I have received an Email from CPC with subject INTIMATION U/S 143(1 ) OF THE INCOME TAX ACT, 1961 with my processed ITR-1 details. In my Form 26AS , TCS is reflecting a...

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Amlan Dutta

Prior to my answer, the portion of advance tax doesn't make sense ...you need not pay advance tax for car purchase ...anyways, if the vehicle value is more than 10 lakhs , then as per recent provisons of the act , the car dealer will collect TCS at the rate of 1 % ....this figure will reflect in y...

October 4, 2018

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Amlan Dutta

Prior to my answer, the portion of advance tax doesn't make sense ...you need not pay advance tax for car purchase ...anyways, if the vehicle value is more than 10 lakhs , then as per recent provisons of the act , the car dealer will collect TCS at the rate of 1 % ....this figure will reflect in y...

October 4, 2018

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SAGAR S BADNERKAR

Category : Rectific.., Deductio.., Income t..,

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June 16, 2016 6:10 pm

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Rectification - Tax credit mismatch

Hi Amlan,
I am a salaried person also I am an active trader in future & option. through internet i come to know that while filing return we need to go for audit from CA. although my turnover is below 1 crore and i didnt turned up with profit also. what I should do?

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Amlan Dutta

Futures and options is considered as normal business ( not speculative) income...the trader is required to maintain normal books of account under section 44AA
If the annual turnover is more than 1 Cr or the trader declares profit less than 8 % of the turnover , only then audit is required

Here turnov...

June 17, 2016

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