Reason & Solution for Intimation under Section 143(1) of the Income-tax Act
Intimation under Section 143(1) of the Income-tax Act
Error discerption in Intimation
"The gross receipts/income, on which tax has been deducted, are to be entered in the schedules under the respective heads of income, as they are assessable in the year in which the credit for the TDS is being claimed."
Possible Resolution: -
1. Gross receipts/income, on which tax has been deducted, are to be entered in the income schedules under the respective heads of income.
If tds has been deducted in section 194 (dividends), then the income receipt should be entered in the income schedules under the respective heads of income
Amount paid (gross receipt)- 12000
Head of income - OS-Income From Other
TDS detail -
2. It is also to be ensured that the Business code should be the same in which section TDS has been deducted.
Under which section TDS was deducted?
What is the code of business declared in ITR?
If TDS Deducted u/s 194J then business code should be declared in ITR as professionals category.
Note :- This is correct as per the checks applied by us, however, not completely sure about this and needs to be further checked.
How to update Income Tax Auditor Software manually
Solution: In Case of Client is using Spectrum software and wants to update the Zen Income Tax Auditor only : To resolve the error please follow the steps provided below: 1. Go to Root location of the software - "C:\Program Files (x86)\K.D.K. ...
How to import salary details in income tax module from TDS software
Solution: To import salary details in Income Tax module from TDS software you please go to Transactions > Salary Income option given in menu bar. Here,click on TDS Salary Import button and you will get the list of Deductors. ...
Deprecation mismatch error
Deprecation mismatch error Deprecation as per General info -P&L not Match with the Deprecation separately consider Solution The deprecation shown in the profit and loss (general information bs/p&l) is should be equivalent which has ...
In Income Tax Auditor > When IFSC Code is not found
IFSC Code not found In the Income Tax Auditor software, you can search the IFSC code of most of the banks. If you are not able to search the IFSC code in the software, then follow the procedure given below for its solution. Step 1 First of all, you ...
How to select New Tax Regime in Income Tax Software?
Form 10IE To Select New Tax Regime In Budget 2020, taxpayers were given an option to choose between the old and new tax regime. Under the new tax regime, taxpayers have an option to pay lesser tax on the total income. That means taxpayers will not ...