26AS should be having all info.
@IncomeTaxIndia
@FinMinIndia

Apart from TDS TCS or AIR SFT

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

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with CA Harshil sheth

CA Harshil sheth Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @CA_HarshilSHETH

17 Sep
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
You can check whole PDF in this link drive.google.com/file/d/1bM69fs…

or U can check 30 points below in Thread below

Lets get started
PART- 1 -Regarding Seamless ITC

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) Image
Read 14 tweets
3 Aug
HANDS ON EXPERIENCE on New portal​

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
Read 7 tweets
3 Aug
Earlier payment of TDS was really insignificant task. Clients used to pay at own before 7th

So I was nvr worried for reminders .. Still I used to send them

But now It has 3 categorizes (and horrible messy task of checking )

so I had sent this- as reminder to clients
JUL month TDS TCS reminder - Pay before 7th Aug

Category 1- TDS (normal) -
on interest, Commission, RENT, Fees, JOB WORK, REPAIRING, ADVERTISEMENT , FREIGHT ( >10 TRUCKS)
Category 2 TDS (on Purchases 194Q)
( Only if U r 10 cr above)
Deduction of 0.1% on if purchases hv Crossed 50 lac
Read 4 tweets
12 Jul
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
Read 7 tweets
1 Jul
4 years of GST - THREAD ON UNANSWERED QUESTIONS

This thread is different than anything else

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
Read 11 tweets
30 Jun
GST REGISTRATION related Questions - A thread

WHETHER PERSON is LIABLE to REGISTER in EACH CASE ?
(SECTION 22 to 25 & DEFINITION OF AGGREGATE Turnover will be helpful )

Here are Incomes of some persons from his Profit loss accounts
1. A trader having 38 lakh turnover ( Taxable Goods) + 1 lakh Rent from residential house +1 lakh Interest from FD and saving bank account

2 An advocate earning 19 lakh from consultancy on which recipient is paying tax on RCM basis + 2 lac rent from Commercial Property
3. An advocate earning 19 lakh from consultancy + 2 lakh income from interest of FD / SB a/c

4. A doctor having income of Rs 19 lakh from his consultancy + 2 Lac income of commission from suggesting medicine of a particular company
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(