1 SB interest
2 FD interest ( evenif TDS not deducted or no 15G/H)
3 MF Sold
4 Shares sold
5 Crypto sold
6 Share Trading or F&O
7 Property sold (Evenif < 50 lac)
8 Gold sold (yes)
9. Dividend ( Evenif TDS not deducted)
(Salary /Rent / Commission/ Fees/ Deposit interest/ Royalty
tough to get info. if TDS not deducted)
But Rest like any of above, Anything where PAN is used and Any heads of income are hit
Then it must be shown in 26AS automatically
These 9 incomes are sure shot incomes which must be shown in ITR & taxed
IT dept can easily get most these info from Bank
The IT return filer will have to show these Income from above transactions once reflected i. 26AS
And
Tax will be huge when All will show such incomes
Which other incomes you think 26AS must fetch data from various sources
irrespective of TDS TCS deducted or not
Ans in comment
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MEGA THREAD ON 30 BURNING GST ISSUES & SUGGESTIONS thereof
This detailed Presentation on 30 burning issues in GST Law, Procedures, Returns are hard work of Last 4 year. All GST law related issues (which we all have faced) have been compiled in this Thread. Also attached Link
1. REMOVE ITC restrictions of rule 36(4) and proposed Sec. 16(2)(aa) 2. Remove rule for Denial of utilizing ITC u/r 86B 3. Remove Provision ITC reversal due to 180 days Non-payment u/s 16(2)
For simpler ITR 1 or 2 having Salary & Interest incomes , I tried filing few ITR & here is experience ( torture)
If you lucky U get to validate ur json from Software, upload it .. If more lucky then No error will come & U can Submit ITR
But problems are mainly after that
1. If name is not matching with PAN database then ITR will not be submitted. Dont get annoyed . Change name and Upload Json again . We had habit of Writting name SURNAME-NAME-FATHER NAME
Now this habit need to be changed
2. In some cases , OTP was coming late for E-verification..AFTER E-VERIFICATION done, When I go to download.. I cant see AY 21-22 return.. This is worst level of Glitch which can give heart attack...इतनी महेनत से upload हुआ and गायब
MASTER Thread on current PROBLEMS in GST ( law, procedure & Returns)
GST can be Good & Simple if Following problems r resolved . I am aware that There is no discussion, No representation, No hope abt these Problems getting solved
But Still I am making list
READ ALL 25 points
1. ITC restrictions in 36(4) and 16(2)(aa) 2. ITC Denial of utilizing u/r 86B 3. ITC reversal due to 180 days Non-payment 4. No ITC allowed for CG in Export refund 5. No ITC allowed for CG & Services in Inverted duty refund
6. Whole return filling Mechanism 7. Non Effective GST Annual Return format 8. No CAP on Max. LATE FEES 9. No Amnesty for GSTR 9/9C 10. No relaxation on Sec. 16(4) regarding time limit
Here are list of some Unanswered Questions. Its about those "WHY" which You must have encountered these questions in these 4 years.
like CGST of one state not available to Other
Do read all. Add more in Comments .
Here it goes
1. Why Credit of CGST of other state not available in state in which Taxpayer is registered ?? Why? There is only one CGST act. Right? Have you ever thought?
2. In refund in Export. Why ITC of CG not allowed whereas ITC of Input services allowed? This curtail refund Amt. Also If I m doing export with IGST then Full IGST is allowed as Refund. Why such discrimination in both scheme ? If purpose is to give full refund to Exporters