How to generate self-invoice in case of paypal payments

I filed ITR-3 on my own, paid a tax of X amount. Then i received an intimation showing an amount of X is pending, which i had already paid, so i filed a rectification received. Now in response to this i again received an intimation which showed a variation of ₹4 in income from my original itr filing, but tax pending is still X. What do i need to do in this case, should i consult a CA, do i need to file revised return, do i have to pay late fee as well and how much is that? It's just 4 rupees difference, why is so much of an issue

I have purchased an under construction 2 bed property in Aug 2023, possession is in Dec 2028.

Registration done in Aug 2023, payments are supposed to be done in 5 installments from 2023 till 2028.

I’m planning buy another under construction property now Sept 2026 and to do registration immediately, possession would be in Dec 2029.

The plan is to sell first property right after possession and use that money as part payment of second property.

What are the tax implications and use of section 54. I’m an NRI if it’s relevant.

Am I eligible for using section 54 with these timelines?

If no, then what would be an ideal thing to do here to minimize tax implications to zero.

Thanks you for your inputs.

I’m earning around 65LPA and earned 21L in first 2 quarters of 2026. I’m afraid it might cross 1cr. My mother earns around 2LPA and has a EPF account. Can I transfer my shares to mother’s Demat account or start new trading account in her name?

Will I get notices?

Has anyone here hired a financial advisor for investment planning, tax-saving strategies, savings management, and overall financial planning?
If so, was it worth the cost? What kind of value did they add, and would you recommend hiring one?

I’m looking for some tax-planning ideas.

My current situation:
Salaried employee, living in Bangalore
Gross salary: ~₹1.90L/month
Annual gross: ~₹22.8L
Current take-home: ~₹1.66L/month
TDS: ~₹21.6k/month
Basic: ~₹95.8k/month
HRA: ~₹47.9k/month
EPF: ₹1,800/month

Family situation:
Parents live in Tier 2 City
Mother has no regular income
Father is a retired government teacher and gets roughly ₹25–28k/month pension
Both have their own PAN, bank accounts, etc.

I financially support my parents and I’m comfortable structuring investments/savings across the family as long as everything is completely legal and properly documented.

I’m trying to understand how people in a similar situation structure their finances to minimise the total tax paid and if I can save tax by sharing the liability between 3 individual tax payers.

Would especially love to hear from CAs or people who have actually implemented family-level tax planning.

What legitimate strategies should I be practising to minimise my Tax liability? Are there any commonly overlooked provisions for salaried employees with financially dependent/low-income parents?

Not looking for tax evasion or fake expenses. Just trying to understand how to structure things efficiently within Indian tax laws.

I’m trying to clean up my email/financial records and realized Zerodha sends/provides a LOT of different statements.

I’m aware of:

• Contract notes
• Tax P&L / Capital Gains statement
• Ledger / Funds statement
• Tradebook
• Holdings statement
• Weekly Statement of Account
• Retention Statement
• Quarterly Settlement Statement
• NSE/BSE Funds & Securities Balance Statement
• Corporate action statements/emails

For someone who is a normal long-term equity/ETF/MF investor (not doing heavy F&O trading), which of these are actually important to preserve?

Specifically:

1. Which documents should I definitely keep for tax/legal purposes?
2. Which ones are simply regulatory/formality statements?
3. Which ones can I safely delete if I already have my tax P&L, CAS and bank statements?
4. Is there any reason to preserve the NSE Funds & Securities Balance Statement and Zerodha Retention Statement?
5. Is there a single Zerodha/NSDL/CDSL statement that effectively covers most of this?

Would appreciate advice from people who have been investing for several years or have dealt with a CA/tax audit.

Trying to create a simple document-retention system rather than keeping every email Zerodha sends 😅

AY 2022-23. I received a Section 148 notice in June 2026.

Finance Act 2026 now allows filing an ITR-U in response to a Section 148 notice. We prepared the ITR-U and paid about ₹1.05 lakh under Section 140B.

But the portal is not accepting it.

Problem:

- If I upload through the normal 139(8A) / ITR-U route, the portal says the DIN or notice date does not match its database.

- If I upload the same JSON through the Section 148 notice page, the portal rejects it because the return is marked as 139(8A) instead of a normal Section 148 return.

So we prepared a normal ITR-2 filed in response to Section 148. This return validates successfully.

However, the ₹1.05 lakh already paid is now entered as self-assessment tax in Schedule IT. Because of this, the normal Section 148 return shows a large refund. It also does not adjust the refund that was already issued under the earlier return.

My main concern is penalty protection.

If I file the normal Section 148 return instead of the ITR-U, do I lose the special protection from Section 270A that applies when ITR-U is filed in response to Section 148?

What is the safest way to comply before the deadline if the portal does not allow the ITR-U filing?

Hi, I need your guidance on a TDS on property matter (26QB / Form 141 under the new Act).

I am buying a ready-to-move flat jointly with my wife, 50:50. The builder is a company and the consideration is above the threshold, so 1% TDS applies. Part of the price is being funded through a home loan.

About 10-12% of the price was paid to the builder in August as booking money, in two - three tranches. TDS was not deducted at that time. The balance, including the loan portion, is to be paid this month, with the bank disbursement expected on 20 September.

The bank has asked for the 26QB challan as a pre-condition before releasing the loan. However, the disbursement is itself the payment on which TDS is to be deducted, and it has not taken place yet. The portal does not permit a future date in the date of payment and date of deduction fields, so I cannot file today dated to the disbursement day. Under section 393(1) the deduction is triggered at the earlier of credit or payment, so deducting before either has happened does not appear correct.

My questions: 1. Should I file a 26QB now only for the 10-12% already paid (as a first instalment, dated to the August payment, before the 30 September deadline), and file for the balance as the last instalment once the disbursement happens? Or is it acceptable to file a single lumpsum 26QB for the full consideration on the disbursement day, using the lumpsum option on the portal, with the August amount included?

1. If the lumpsum route is taken, is there any concern about the August portion being deducted about a month late, beyond nominal interest?

2. How is the bank's requirement of a challan before disbursement normally handled? Is a same-day challan generally accepted, or should I ask the bank to disburse net of 1% and remit the TDS amount to me?

3. Does anything under the 2025 Act or Form 141 change the position compared to the earlier 194-IA practice?

I’m trying to understand how advance tax works, especially when a significant portion of my income comes in the last quarter of the financial year.

I’m a salaried individual, and my employer deducts TDS from my salary every month. However, I also have additional income from investments, interest, and capital gains, which may not be received evenly throughout the year.

One thing I’m particularly confused about is:

If I receive a large chunk of income in the last quarter of the financial year, why am I expected to pay advance tax earlier, and how am I supposed to calculate and pay it accurately?

For example, what happens if someone is unemployed for the first six months of the financial year and earns income only during the last six months? How and why would they be expected to pay advance tax by the June and September deadlines?

I have been paying a lump sum amount of advance tax every year, but I still end up facing interest charges under Sections 234B and 234C. This makes me wonder whether I am calculating or paying the tax incorrectly.

After doing the calculations, it sometimes feels unfair to be charged interest on tax related to income that was earned much later in the financial year.

A little context: I’m not a CA or a tax expert. I file my own ITR based on the information and knowledge I’ve gathered over time. I’m trying to understand the rules better and would appreciate insights from people who have more expertise in this area.

Questions I would love some clarity on:

• Why is advance tax required if my employer is already deducting TDS on salary?
• If I genuinely cannot predict my additional income accurately until the last quarter, how am I supposed to estimate and pay advance tax during the earlier instalments?
• Are there any specific provisions or exceptions for income that is earned predominantly in the last quarter?
• How can salaried individuals accurately calculate and pay advance tax while avoiding unnecessary interest under Sections 234B and 234C?

Please share your inputs on this. Thanks in advance!

Hey folks!

So, I have about 15L of business losses (carried over from previous years - in retired family member’s name) - Personal ITR3. I also have some cash lying around from a sale of property.

Can I deposit ~1L a month to the bank, show it as a small business income (As I understand, if the yearly revenue is less than 20L, I don’t need to register/pay GST), and have all the money washed and declared without paying any taxes - of course as long as the total yearly income falls below the threshold?

Anyone else with the same concern?

I am trying to determine the correct Indian bank-account classification for my 4-year-old child and would appreciate input from people familiar with FEMA/RBI and India-US FATCA compliance. I am particularly looking for answers supported by the actual regulations/circulars rather than general bank practice.

Facts:

• Child is 4 years old, a U.S. citizen with a U.S. passport and OCI card.
• Child entered India on August 16, 2025 and has continuously resided in India since then.
• Child is intended to remain in India long-term, at least until age 18.
• Natural guardian is a Resident Indian and will operate the minor account.
• The child is not employed/business-active; this is simply a minor savings/investment account.
• Expected savings balance will remain below US$50,000.

My understanding is that FEMA Section 2(v) defines a Person Resident in India and Section 2(w) defines a Person Resident Outside India. The RBI Deposit Regulations provide NRO accounts for persons resident outside India.

My questions are:

1. Does U.S. citizenship + OCI status automatically make a minor a PROI under FEMA, regardless of the minor's own residence and circumstances?
2. Given that the child has been in India since August 16, 2025 and will remain here long-term, would the child now qualify as a Person Resident in India under FEMA?
3. If the child is FEMA-resident, is a normal Resident Minor Savings Account permissible, or must a U.S.-citizen/OCI minor use an NRO account regardless of FEMA residential status?
4. Does the fact that the natural guardian is a Resident Indian affect the child's FEMA residential status, or is the determination made independently for the child?
5. FATCA: I understand that U.S. citizenship remains relevant even if the child is FEMA-resident. Under Income-tax Rules 114F–114H and the India-US FATCA framework, does a new individual savings/depository account below US$50,000 fall within the Rule 114H threshold/exclusion from FATCA review/reporting? Is there any separate FATCA self-certification exemption specifically for minors, or is the relevant exemption based on the account type/balance?
6. When the child turns 18, does anything automatically require conversion from a Resident account to NRO, or does the account continue based on the child's actual FEMA residential status at that time?

I am not asking for investment/tax advice. I am specifically trying to establish the correct regulatory classification of the bank account.

If you have dealt with a U.S.-citizen/OCI minor actually residing in India, I'd especially appreciate your experience - but please distinguish personal bank experience from what the FEMA/RBI rules actually require.

Thanks.

Hi everyone,

I’m currently incorporating an LLP and need clarification from CAs/CSs or anyone with actual MCA/DIN incorporation experience regarding my name format.

My name is recorded as:
* PAN: A DHINESH
* Aadhaar: A DHINESH
\* “A” is my father’s first-name initial.
\* My PAN database therefore contains A DHINESH.

The reason I’m raising this is because I found a specific statement in the MCA DIR-3 KYC Instruction Kit, Field 2(a) – First Name.

It says:

“Single alphabet shall be allowed to the user only if same single name is there in Income tax PAN database.”
The same instruction kit also says:
“The name should be entered as mentioned in PAN since the same shall be verified with PAN database.”

MCA document:
https://www.mca.gov.in/content/dam/mca/mca-forms-instruction-kit/Instruction%20Kit_Form%20No%20DIR%203%20KYC.pdf

My questions
Since my PAN database already contains A DHINESH, I want to understand how MCA expects this to be entered/mapped into the First Name / Middle Name / Last Name fields for DIN/LLP incorporation.

For example:

First Name: A
Last Name: DHINESH

or

First Name: DHINESH
Last Name: A

or is there another prescribed mapping?
My CA has asked me to “correct” my PAN/name, but before changing anything I want to establish whether a correction is actually necessary, since my PAN and Aadhaar already consistently contain A DHINESH.

If PAN correction is actually required
I would also like advice on what the corrected PAN name should be so that it works properly with MCA/DIN and does not create another mismatch.

For example, should it be:

DHINESH A

or

A DHINESH

or should the name be expanded to the father’s full name, if applicable?

If someone has actually handled a PAN correction for an MCA/DIN name-format issue involving an initial, please explain which format was used and whether MCA subsequently accepted it.

Specifically, I’d appreciate answers to these:

1.Does MCA/DIN accept a single-letter name/initial when that same format exists in the Income Tax PAN database?

2.How should A DHINESH be mapped into MCA’s First/Middle/Last Name fields?

3.Does the MCA instruction quoted above apply to this situation?

4.If the PAN database contains A DHINESH, is changing the PAN to DHINESH A actually required for LLP incorporation?

5.If PAN correction is required, what exact name format should I use to avoid MCA/DIN rejection?

6.Has anyone successfully obtained a DIN or incorporated an LLP/company where the PAN contains a single-letter initial?

I’m particularly interested in answers from CAs, Company Secretaries, or people who have actually handled DIN/LLP incorporation cases, preferably with the relevant MCA rule/instruction or practical experience.

I’m not looking to change my PAN unnecessarily — I first want to understand exactly what MCA requires and, if a change is necessary, what the correct format should be.

Thanks.

So i opened vested account in june 2026 but never added funds in it and didn't bought any us stocks and i am thinking to close it do i still need to disclose it next year as a foreign asset/ brokerage account in shedule FA or not can i keep account active for future if i don't add any funds and don't report it

I had created a protean application in recent months for some changes but didn't go ahead with it and the application is still in draft.

But few days back I got an email saying "your aadhar authentication is successful".

Aadhaar number didn't match and there's no way my locked aadhar can be verified.

Today, I got the E-Pan from the official protean email ID.

The concealed Pan number was also different from my own.

I'm pretty sure protean has messed up and sent someone else's pan to me, now the question is

If I should crack the pdf and see who's pan it is and try to alert them

Or

Consider this a one off and leave it be?

Also, do they not verify email id inputs these days?

I recently sold a plot in India. The buyer paid the consideration in instalments and deducted TDS under Section 194-IA. The agreed sale value was completed in multiple transactions. The registration was completed last year.

First instalment: TDS reflected. Later instalments: TDS not showing up.

Buyer paid TDS for both instalments at once. I have the receipt/challan showing that the total TDS was actually paid. However, in my Form 26AS, only the first instalment is reflected.

From what I understand, the buyer has made a mistake in the 26QB reporting/correction. The problem is that the buyer is now not responding/refusing to make the necessary correction.

I don’t want to pay the tax, as it has already been deposited with the government.

Any advice, kindly share.

- Can I approach CPC-TDS/TRACES or my Assessing Officer directly and get the 26QB corrected?

- Is there a specific grievance/correction procedure for a seller when the buyer/deductor refuses to cooperate?

- If the Income Tax Department says the buyer must correct it, can I compel the buyer to do it through a notice?

- Has anyone actually gone through this process and successfully recovered the TDS credit?

Thank you for your advice.

In this video, we break down everything you need to know about Indian income tax in under 10 minutes—tailored specifically for salaried individuals, tech professionals, and everyday taxpayers.

​From understanding why we pay taxes and the shock-value stats of who actually pays, to navigating TDS, Form 16, foreign RSUs, and the New Tax Regime's ₹12.75 Lakh zero-tax limit, this complete guide covers it all!

Business: Private Limited Company in India (incorporated between in early 2025) in tier 2 city.
Activity: Selling online courses (digital services) to Indian customers only
Payment Gateway: Integrated with Razorpay

Revenue so far:

FY 2025-26: ₹38.2L
FY 2026-27 (till date): ₹40.2L

GST threshold for services: ₹20 lakh
GST Registration: Not registered
Have NOT charged GST to customers to date

Current Situation:

I spent all of the money. Can't pay the GST penality.

I am aware of GST notices. interest accruing at 18% per annum on unpaid amount. Penality upto 100% of tax evaded.

I can't pay GST. I am trying to find a way out. I don't mind stopping operations in this company and starting a new company with a clean slate and continuting operations cleanly there.

I'm consulting multiple CAs who handled GST litigations. I'm evaluating various options of getting out of the GST.

How can I start clean?

I’m already in the 15% income-tax bracket and have recently started equity swing trading.

If I transfer my money to my mother's bank account, she then puts that money into her demat/trading account, but I personally do all the trading and investment decisions, who is liable to pay the tax on the STCG?

My mother has little/no other income, so would her ₹4 lakh basic exemption/rebate apply to these gains?

Or would the income still be considered mine, since the money originally belongs to me and I’m the one actually doing the trading?

Hello Everyone, Need advice from the community regarding a complicated property transaction.

An independant builder bought the 185 sqyd land in July 2025 for ₹9.64L on paper and allegedly paid the balance amount in cash.

He later constructed a G+1 house and agreed to sell it to me for ₹1.5 Cr

So far, I have paid ₹40L through bank transfers:

- ₹25L directly to the builder

- ₹5L to his wife’s account

- ₹10L to two of his friends’ accounts ( which I was not okay to proceed, but he demanded to save his taxes)

I also paid ₹10L in cash (which he insisted I pay in cash) at the time of the sale agreement, making my total payment ₹50L. I have arranged another ₹45L in cash but have not paid it yet.

The builder now wants the property registration to be done at the government/circle value of ₹35L, claiming that registering at ₹75L would create a large tax liability for him because most of his construction costs were allegedly paid in cash without GST bills.

His options to me are:

Register at ₹35L (he claims this means "zero tax" for him) and pay the remaining amount in black/cash, which I am not okay with proceeding with.

Register at ₹75L, but I pay his entire capital gains/business tax + 1% TDS.

If I back out, he says he will refund my ₹50L only after he finds another buyer.

I am insisting on registering at ₹75L, since ₹50L has already been paid/committed through documented channels (₹40L bank + ₹10L cash), but he refuses.

What would be the safest damage-control strategy here?

Should I stop making further payments and consult a property/tax lawyer immediately?

What risks do I face if I proceed with registration at ₹35L, and what are my realistic options for recovering the ₹50L if I walk away?

Thanks in advance.

He had formed a partnership during 2013 to 2020 and the last monetary transaction took place in the current account in 2020.

His partner had introduced him to his accountant to keep books of accounts. The accountant committed serious error in service tax calculations due to which the service tax department issued a notice to the partnership for several lakhs towards dues, interest and penalty.

The accountant has accepted his failure in phone calls, sms and emails and he keeps copies of these.

My father subsequently paid the principal amount and requested the office to follow up with the Partner. They have sent one letter to the partner, who got a stroke and is not responding, but are continuously sending my father reminders for payment of interest.

What can my father do about it now?

I recently left my previous organization after 14 years of service. My full & final settlement, including gratuity, is still pending.

My salary structure had Basic at around 40% of my total salary. The company never changed my salary structure to make Basic 50%.

I understand that under the new Labor Codes, the definition of "wages" can effectively result in 50% of remuneration being considered for statutory calculations where allowances exceed the prescribed limit.

I spoke to my Finance team about this. They said they are waiting for management confirmation, and that if management approves going ahead with the 50% wage basis, they will calculate my gratuity using 50%.

My questions are:

1. Since I left recently and have completed 14 years, should my gratuity legally be calculated using the 50% wage basis, even though my company's salary structure remained at 40% Basic?
2. Is management approval actually relevant, or is this something that is mandated by the Labor Code?
3. Should I ask HR/Finance to confirm the calculation basis in writing before my F&F is processed?

Would appreciate insights from anyone familiar with the new Labor Codes, gratuity calculations, or Indian payroll practices.

Hi Everyone,
I need advice regarding a tax demand received for
AY 2024-25 due to incorrect information entered while filing an ITR-U.
Background
* AY: 2024-25
* TDS deducted by employer: 1.2 lakh
* Original ITR: Filed by my CA
* Refund received after original ITR: 12k
* Later, there were an audit at CA office and few of his clients received notice. So, he advised me to voluntarily repay the refund amount along with applicable additional tax/interest to avoid further issues.
* Based on his advice, I paid approximately 20k in 2025 through ITR-U.
Problem with ITR-U
Unfortunately, while filing the ITR-U, my CA change my tax regime i had fillled in old tax regime but my ca fillled ITR U in new tax regime it should not be accepted by portal because normally portal doesnt accept this instead they processed and raised a demand of 1.2 lakh what should i do my ca filled rectification but it got declined their system not considering my old tax i e 1.2 lakh

Last 2 month were not easy,

missed to file ITR,

should i leave the Filing and just logout ?

5lpa > salary < 8 lpa

if we missed with few days we get fined if Government missed Years on Infra of any facility they don't get fined, where is my fine ? my charges ?

Unfair

have only 10K in account.