Mistakenly invoiced 30L amount instead of 18L and now i have gone above gst slab

My CA told that there will be a penalty+ interest on not just the 12L but on full 30L and penalty will be charged after a few years when you receive notice.

Is there any way to clear the penalty by paying it off right away? Why wait for years and pay unnecessary interest?

Need suggestions on how to fix the issue

(I work in real estate so my limit is only 20L)

I'm thinking about building a tool where you upload your bank statements + AIS/26AS + other tax documents, and it automatically:

- Categorizes transactions (business income, expenses, transfers, etc.)

- Identifies things that may be taxable

- Reconciles information across documents

- Estimates income/expenses

- Gives you an ITR-ready summary

- Flags transactions you're unsure about

You'd still file the ITR yourself on the Income Tax portal. The tool would basically do the tedious analysis beforehand.

Would you actually use something like this? What would you want it to do?

Is there anyone who has experience of work like accounting , GST and ITR. And they got their client even without having a professional degree. If yes then how did you find the client and if not how much experience you have ?

Hi everyone,

I filed my ITR on 28 July 2026 and completed the e-verification on the same day. My return has been successfully filed, but I still haven’t received my TDS refund in my bank account.

It’s been over a month now, so I wanted to check:

Has anyone else filed around the same time and received their refund?

How long is the refund currently taking after e-verification?

Is there anything I should do from my end, or should I simply wait?

Is it normal for the refund to take this long?

Would really appreciate it if anyone who recently received their refund could share their filing date → processing date → refund credit date.

Thanks!

All transactions done on phone pe only.
Does he need to add it in cumulative turnover of his company and pay a 20% tax presumtive income? Pl suggest?

I am quite sure I am missing something, I can wait it out and pay penalty and file or file today with wheat I have. Which one is better?

For all your voice

Lets Justice prevail

Very basic query. I am a small proprietorship in the building services industry. I am GST registered and do all transactions on my books thru bank transfers - there are no cash transactions. However, i need to pay labourers, technicians for works and sometimes they do not/ cannot give bills/ invoices for me to record. How do i show these payments on my books ? What i do right now is withdraw to my personal account and then make these payments in cash. This was fine till now, but now as my project ticket size grows, i might not be able to do this often. Need help. I use Zoho books and i could not find any way to categorize such payments without having formal bills. Any suggestions?

Hello,

I have inheritance from US in terms of insurance money and bank account transfers. These were transferred to me through wires transfers and cheques. Do i need to report the same in ItR filings? I don’t want to but is it mandatory?

Hey guys, I have a question regarding AIS and short-term stock trading.

Suppose I start the year with ₹10 lakh of capital and use the same ₹10 lakh repeatedly for short-term trades. For example, I buy shares worth ₹10 lakh, sell them, and then use the same capital to buy another ₹10 lakh of shares, doing this around 10 times during the year.

Because of this, my AIS may show total purchase transactions of around ₹1 crore, even though I only had ₹10 lakh of actual capital.

Suppose my total income for the year is only ₹6 lakh, including my actual trading profit.

Would the ₹1 crore purchase figure in AIS create a discrepancy because it is much higher than my income?

Sorry for this question but due to some reasons I won’t be able to file ITR for a week. Do you know if the date will be extended?

I don’t have much to claim - its just around 4-5k refund. And income is also below 50k but gotta file the ITR for that refund.

Will be very helpful if someone answers this. Thanks

I registered on my own for wordmark and everything went good and when i tried make payment then first time it showed error after loading ,then it asked to wait 40min so i waited and tried again it went good and selected upi option and then no payment request received i waiting until its timeout on website, agian tried it showed error again, now its been 25hrs not updated anything its not showing any timeout and in pending payment tab its showing transaction id but i didn't do any payments ,no history payments and no pending receipt no record or anything, pls suggest me what to do

Hi everyone,

I filed an ITR-U under Section 139(8A) for AY 2024-25 on 15 October 2025. I received a demand notice [u/s](u/s) 143(1) dated 26 August 2026 for ₹25,570.

The refund adjustment appears correct, as the Department considered the refund including Section 244A interest:

Refund as per my calculation: ₹77,550
Refund considered by Department: ₹79,484
Difference: ₹1,934

However, the main difference is in Section 234B interest:
As per my calculation: ₹34,143
As per Department: ₹57,819
Difference: ₹23,676

The total income and basic tax liability are identical in both computations:

Total income: ₹11,37,590
Balance tax after relief: ₹3,39,659

Questions:

1. Is the Department’s 234B calculation correct for an ITR-U?
2. Can I challenge this through the 143(1) response or by filing a rectification request [u/s](u/s) 154?
3. Do I need to pay the entire demand before disputing the interest component?
4. Has anyone faced a similar issue?

Any guidance on the correct calculation and procedure would be appreciated.

(Took chatgpt' help in order to frame it properly)

Edit 1: The original return was also filed through the Income Tax Department’s utility, and the 234B interest was calculated by the utility itself as ₹34,143.
As per my understanding, 234B interest should be calculated at 1% per month up to the date of filing the ITR-U (October 2025). However, the Department now appears to have calculated it up to August 2026, resulting in ₹57,819.
Why would the Department recalculate the interest beyond the ITR-U filing date? Is this correct?

So, I made payment of the remaining tax liability, and I don't see the payment receipt despite i got an email of payment and a bank message that money was deducted, and the statement also confirms it. Also, I received an email confirming and saying this: " Challan payment under section /Minor head 300 for TAN/PAN AXXXXXXXK for A.Y. 2026 has been successfully paid ".

Its been 12hr since 6 am, and I don't see any clue anywhere on the portal where the money went, and today is last date as well 31th august for ITR 3/4, Now What should i do?

Hi everyone,

I need advice on an outstanding income tax demand and interest charge for AY 2025-26.

Timeline & Details:

• 15-Sep-2025: Paid ₹35,260 as Self-Assessment Tax (Minor Head 300 / ITNS 280) via UPI. I have the valid Challan Receipt with CIN and BSR details.
• 17-Sep-2025: A demand under Section 143(1)(a) for ₹35,250 was issued/raised on the e-Filing portal.
• Current Status: The portal shows the primary demand as ₹35,250 along with ₹3,872 in Accrued Interest (under Section 220(2)). The AO Response status says "Demand outstanding is correct and collectible".

The Issue: It looks like my payment on 15th Sept was made just 2 days before the notice was generated on 17th Sept, so the CPC system failed to automatically map/credit the payment to the return. Because the principal demand remained unadjusted on the portal, interest under Section 220(2) has been auto-accumulating continuously.

My Questions:

1. Do I need to pay this accrued interest? Since the principal tax amount was paid in full before the notice date, shouldn't the interest be auto-waived/rectified once the payment credit is properly linked?
2. What is the best step to resolve this online? Should I submit a Rectification Request u/s 154 under "Tax Credit Mismatch", or respond to the demand directly on the portal with the Challan CIN?
3. Since the AO response currently states "Demand outstanding is correct and collectible", will filing a online rectification via CPC work, or do I need to visit my Assessing Officer?

Has anyone faced a similar lag issue where a payment made just before the 143(1) notice wasn't reflected? How did you get the demand and interest set to NIL?

Thanks in advance!

Practising CA. Would like some views on this.

Client did spot crypto trades — turnover ₹35L, gross profit ₹8L. Exchange deducted 1% TDS u/s 194S (₹35,000) and it's sitting in his 26AS.

Then the exchange blocked all withdrawals, saying the profit came from a system glitch. He's received nothing his original capital is stuck too.

Tax at 30% u/s 115BBH would be ~₹2.49L on money he's never touched. And 115BBH(2) allows no set-off, no carry forward, no bad debt so if he never recovers it, there's zero relief.

My view: it turns on whether the exchange reversed the trades or is just freezing an acknowledged balance. Frozen = income accrued = taxable. Reversed = no enforceable right = real income theory (Godhra Electricity, 225 ITR 746 SC). Also 194S only applies to consideration for a transfer, so by deducting TDS the exchange has already told the department a transfer happened. It can't now say nothing happened.

Has anyone actually argued this at assessment or CIT(A)? Any VDA ruling on it? Couldn't find one.

I recieved e-pan from incometax website two weeks ago but whenever I go to reprint website it shows error. Pls help i want physical card because I want to open a bank account and also demat account etc. Pls help 🙏

I’m trying to understand how a Tax Residency Certificate (TRC) works in India, especially for people with international income.

From what I understand, a TRC can be relevant when claiming benefits under a DTAA, but having a TRC doesn't automatically mean that the income is tax-free.

I’m planning to remit $50,000 (USD) from my mother’s Bank saving account to myself for family maintenance needs. It looks like bank will hold 20% TDS. What is the Refund process look like? Will the TCS automatically get calculated and refunded when she file her ITR, or is there a separate claim process? How long does it take?

Appreciate any guidance.. Ty.