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Where to enter PF and ESIC payment details in Form 3CD? Published on:14/10/2025
PF / ESIC payment details are to be reported under Clause 20(b) of Form 3CD
Where to enter disallowance u/s 40(b)/ 40(ba) of excess interest/remuneration paid to partners of firm in Form 3CD? Published on:14/10/2025
Section 40(b) provides limits on remuneration, salary, commission, interest payable to partners of a firm. Section 40(ba) is a special provision (in some contexts) restricting interest or other payments to partners in certain contexts. If the remuneration / interest paid to partners exceeds the limits prescribed in the partnership deed or the limits under the Act, the excess (i.e. the part over the permissible limit) is disallowed in Clause 21(c) of Form 3CD. User should enter details like nature of expense, section, amount debited to P&L a/c, amount admissible, amount inadmissible and remarks.
Where to enter disallowance u/s 40(a) due to non deduction/ short deduction of TDS or non payment thereof in Form 3CD? Published on:14/10/2025
All kinds of TDS defaults that trigger disallowance under section 40(a) are within the scope of Clause 21(b). This includes: • Payment on which TDS was not deducted at all (non-deduction) • Payment where TDS was short deducted • Payment where TDS was deducted but not deposited / paid to the government by the due date
: Where to enter disallowable part of gratuity provision (Section 40A(7)) in Form 3CD? Published on:14/10/2025
Section 40A(7) disallows deduction for a provision made for gratuity unless the provision is made for contribution to an approved gratuity fund. The disallowance under section 40A(7) is to be reported under Clause 21(e) of Form 3CD titled “Provision for payment of gratuity not allowable under section 40A(7).”
Where to enter cash payments in excess of Rs. 10,000 disallowable u/s 40A(3) in Form 3CD? Published on:14/10/2025
Section 40A(3) disallows deductions for expenses where payments in cash (or non-specified modes) exceed ?10,000 in a day to a single person (except in certain exceptions) for business / profession. The disallowance / deemed income under section 40A(3) is to be disclosed in Clause 21(d) of Form 3CD. User should enter details like the amount, date and nature of payment, name and PAN of payee etc.
Section 115BAC – Tax Regime selection related questions in General Information-1 for ITR-3 AY 2025-26? Published on:26/09/2025
Individuals having income from business and profession filing ITR-3 must choose the method of opting out of new tax regime for current AY 2025-26 by selecting “filing 10IEA (having income from business or profession)” option in General Information-1
Where to enter Directorship details in Taxbase /Where to enter Unlisted Equity shares details in Taxbase? Published on:25/09/2025
Ans: (i) If assessee is a Director in Company at any time during previous year, he should file ITR-2 (without business income) or ITR-3 (with business income) for which directorship details are required to be disclosed in ITR.
What is Section 234B Published on:25/09/2025
Section 234B of the Income Tax Act provides for charging interest when a taxpayer fails to pay advance tax (or pays less than the required amount).
What are tax rates applicable to Domestic/Foreign Companies on Long Term Capital Gain arising out of sale of Land or Building for AY 2025-26? Published on:25/09/2025
For Land or Building (immovable property), a capital gain is treated as long-term if the asset is held for more than 24 months (i.e., more than 2 years) before transfer. Tax rate applicable on such capital gains will depend on sale date of asset.
What are the allowances which are exempt u/s 10 in New Tax Regime for AY 2025-26? Published on:23/09/2025
1) Sec 10(6)-Remuneration received as an official, by whatever name called, of an embassy, high commission etc. 2) Sec 10(7)-Allowances or perquisites paid or allowed as such outside India by the Government to a citizen of India for rendering service outside India. 3) Sec 10(10)-Death-cum-retirement gratuity received. 4) Sec 10(10A)-Commuted value of pension received. 5) Sec 10(10AA)-Earned leave encashment on Retirement. 6) Sec 10(10B)-First proviso - Compensation limit notified by CG in the Official Gazette. 7) Sec 10(10B)-Second proviso - Compensation under scheme approved by the Central Government. 8) Sec 10(10C)- Amount received/receivable on voluntary retirement or termination of service. 9) Sec 10(10CC)-Tax paid by employer on non-monetary perquisite. 10) Sec 10(14)(i) -Allowances referred in sub-clauses (a) to (c) of sub-rule (1) in Rule 2BB 11) Sec 10(14)(ii) -Transport allowance granted to certain physically handicapped assessee.
I am facing error while uploading ITR 2/3 for AY 2025-26 that “In Table 10(13A) of schedule salary field 7 “Eligible Exempt Allowance u/s 10(13A)” shall be lowest of: A) Actual HRA received B) Actual Published on:09/09/2025
Step 1: Take total of rent paid for the year. Step 2: Bifurcate total rent in the proportion of Basic Salary + DA of each employer while making data entry in HRA in Salary.
Section 115BAC, 115BAD, and 115BAE under the Income Tax Act, 1961 Published on:06/09/2025
comparative table highlighting the key differences between Section 115BAC, 115BAD, and 115BAE under the Income Tax Act, 1961
How to export TDS E-KYC details for TDS return? Published on:09/08/2025
To export TDS E-KYC details, go to Application TDS>>Select Deductor>>Click “TDS E-KYC” button>>Select FY and Quarter>>Click Proceed:
What is Excess Tax to be ignored on Long Term Capital Gains while computing total tax liability for AY 2025-26? Published on:10/07/2025
This provision is applicable for the following cases: 1. In the case of sale of immovable properties (Land & Residential) sold on or after 23rd July 2024: When tax on Long Term Capital Gains @12.5% (without indexation) is more than tax on Long Term Capital Gains @20% (with indexation), the difference of tax @ 12.5% and tax @20% shall be ignored while computing total tax liability.
As per the provisions of the Act, exemption claimed u/s 10(23C)(iiiab) / (iiiac) Published on:14/06/2025
As per the provisions of the Act, the exemption u/s 10(23C)(iiiad) / 10(23C)(iiiae) is allowable only if the amount of Aggregate annual receipts does not exceed Rs.5 crore
Do I need to mention the Residential Status in ITR-7? Published on:14/06/2025
Yes, please specify the residential status in India whether it is Resident or Non-Resident.
What are the schedules which mandatorily are required to be filled for claiming exemption in ITR-7? Published on:14/06/2025
Certain schedules of this return form are mandatorily required to be filled up by assessees claiming exemption under specific provisions. The details are as under :-
What are the various acts in which assessee is required to get their books of account audited other than income tax act? Published on:14/06/2025
In case your accounts are required to be audited under any other law (other than Income-tax Act),
What is the manner of filing of ITR-7? Published on:14/06/2025
ITR-7 can be filed with the Income-tax Department electronically
What are the details of auditor required to be furnished? Published on:14/06/2025
Furnish the following details of auditor:
Is there any requirement to furnish information regarding any project/ institution run by the assessee? Published on:14/06/2025
Yes, Name, Nature of activity, classification along with details
Why dividend breakup is required Published on:14/06/2025
Dividend Breakup is required for calculation of interest u/s section 234C. As per Section 234C, Dividend Income is included for calculation of Interest as and when actually received for which breakup of income is required. Earlier, we used to provide breakup of dividend u/s 115BBDA. However, this section is not applicable from and dividend is taxed at normal rates.
What are the details to be provided for claim of Exemption u/s 11 of the Act? Published on:14/06/2025
Following Are the details to be provided for claim of Exemption u/s 11 of the Act :
What are the details to be provided for claim of Exemption u/s 10(23C)(iv)/(v)/(vi)/(via) of the Act? Published on:14/06/2025
Following are the details to be provided for claim of Exemption u/s 10(23C)(iv)/(v)/(vi)/(via) of the Act :
Who can file ITR-7 Published on:14/06/2025
ITR-7 Form can be used by persons including companies who are required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)
Can ITR-7 be filed in response to notice/order? Published on:14/06/2025
Yes. In case the return is being filed in response to a statutory notice
FAQ's on ITR U Published on:14/06/2025
How does taxbase picks up option in ITR U- A7: period of filing updated return?
What are the tax rates for AY 2025-26 for Individuals/HUF/AOP/BOI? Published on:14/06/2025
In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Individuals
What are some of the common errors that make a return defective? Published on:14/06/2025
Some of the common errors that make a return defective are as follows:
What are the notices can I respond to under e-Proceedings? Published on:14/06/2025
All notices / intimations / letters issued by the Income Tax Department and CPC are made available under e-Proceedings
Can I add two Authorized Representatives to respond to the notice issued to me? Published on:14/06/2025
No, you can only have one Authorized Representative active at a time for a proceeding.
Can I remove an already added / existing Authorized Representative? Published on:14/06/2025
Yes, you can remove or withdraw the representative authorized by you.
What is Seek for Clarification communication? Published on:14/06/2025
Seek for Clarification communication is sent to the taxpayer, if there are instances where the information provided under a schedule or annexures of the return is insufficient or inadequate and clarification is required on certain claims made by the taxpayer.
I have been notified about defective returns u/s 139(9). Can I file the return as fresh return for that Assessment Year? Published on:14/06/2025
Yes, you can either file the return as a fresh / revised return incase the time provided for filing the return in a particular Assessment Year has not lapsed or alternatively you can also choose to respond to Notice u/s139. However, once the time provided for filing the return for a particular Assessment Year has lapsed, you will not be able file the return as a fresh / revised return and you will have to respond to Notice u/s 139(9). If you are unable to respond to the notice, the return will be treated as invalid or not filed for that Assessment Year.
Why my submit response button is inactive? Published on:14/06/2025
Submit response button can be inactive due to below reasons For CPC notices - If the response due date has been lapsed. For ITBA notices - If the proceedings status has been closed/blocked by Income Tax Authority.
Whether ITR 1 or ITR 4 can be filed if taxpayer wants to disclose the special rate incomes in the ITR? Published on:14/06/2025
If Taxpayer has received any special rate income like Income from lottery, Income from transfer of property,
Can somebody else respond on my behalf using the e-Proceedings service to the notices issued to me by the Income Tax Authority ? Published on:14/06/2025
Yes, you can add an Authorized Representative to respond to a notice on your behalf using the e-Proceedings service.
Can I respond to a Seek for Clarification Notice without logging on to the e-Filing portal? Published on:14/06/2025
No, you will be required to log in to respond to a Seek for Clarification communication. You will not be able to either view the notice or submit the response to the notice issued to you.
FAQs about Annual Information Statement (AIS) Published on:14/06/2025
Annual Information Statement (AIS) is comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayer can provide feedback on information displayed in AIS. AIS shows both reported value and modified value (i.e. value after considering taxpayer feedback) under each section (i.e. TDS, SFT, Other information). The objectives of AIS are: • Displays complete information to the taxpayer with a facility to capture online feedback • Promotes voluntary compliance and enable seamless prefilling of return • Deters non-compliance
How taxbase calculates 87A rebate for AY 2025-26? Published on:14/06/2025
87A rebate is calculated only if following conditions are satisfied:
There are various deductions that are not reflected in the Form 16 issued by my employer. Can I claim my return? Published on:14/06/2025
Yes, it can be claimed if you are otherwise eligible to claim the same.
What is form 26AS? Published on:14/06/2025
It is a consolidated Annual Information Statement for a particular Financial Year (FY). It contains the details of the following:
The trust in the return of income filed has made a claim for deemed application of income under clause (2) of Explanation 1 of sub-section (1) of Section 11. Published on:14/06/2025
Where assessee has filed Form 9A belatedly,
What are the precautions assessee is required to take while claiming revenue and capital application in the return of income? Published on:14/06/2025
Please enter the details of revenue and capital application in Schedule A and as well in Sl. No. 6(i) of Part B1
If I fail to furnish within the due date, will I be fined or penalised? Published on:14/06/2025
As per section 234F, late filing fees of Rs. 5,000 shall be payable if return furnished after due date specified under section 139(1). However, amount of late filing fees to be paid shall be Rs.1,000, if the total income of the person does not exceed Rs.5 lakhs
What are the due dates for filling returns of income/loss Published on:14/06/2025
As per PDF file.
Do I need to e-Verify the response / submission made? Published on:14/06/2025
No, you are not required to e-Verify the response submitted by you.
Do I need to log in to e-Filing portal to view and submit response using e-Proceedings service? Published on:14/06/2025
Yes, you will be required to log in to the e-Filing portal to view and submit response using e-Proceedings service.
What if I don't respond to a Defective Notice? Published on:14/06/2025
If you fail to respond to the defective notice within stipulated period then your return may be treated as invalid and therefore consequences such as penalty, interest, non-carry forward of losses, loss of specific exemptions may occur, as the case may be in accordance with the Income Tax Act.
Can I authorize another person to respond to my Defective Notice? Published on:14/06/2025
Yes, you can authorize another person to respond to the defective notice u/s 139(9).
What is a Defective Return? Published on:14/06/2025
A return may be treated as defective on account of incomplete or inconsistent information in the return or in the schedules or for any other reason.
Where can I see if any query has been raised against my response given on Adjustment u/s 143(1)(a) issued to me? Published on:14/06/2025
You can view the queries raised by the Income Tax Department under e-Proceedings.
What are the benefits of e-Proceedings? Published on:14/06/2025
e-Proceedings is a simple way to respond electronically to all notices / intimation / letters issued by Income Tax Department. It reduces the compliance burden of the taxpayer as there is no need to visit the Income Tax Office. Further, it is easy to keep track of the submissions and record keeping for future reference.
What is e-Proceedings? Published on:14/06/2025
e-Proceedings is an electronic platform for conducting proceedings in an end to end manner using the e-Filing portal. Using this service, any registered user (or his Authorized Representative) can view and submit response to any notice / intimation / letter issued by the Income Tax Department.
The assessee is an Electoral Trust claimed exemption u/s 13B in the return of income filed. However, the exemption claimed was not allowed while processing the return. Please suggest what action is re Published on:14/06/2025
The assessee is required to provide the registration details in Part A General
The number/size of attachments is more than the permitted limit under the submit response functionality, what should I do? Published on:14/06/2025
The maximum size permitted of a single attachment is 5 MB. In case you have more than 1 document to upload, you can select number of attachmeent upto 10. The maximum size of all attachments should not be more than 50 MB. If the size of the single document exceeds the permitted limit, you can optimize the document by reducing the file size.
Can I correct the defect in the ITR Form online? Published on:14/06/2025
Yes, you can submit the response by online correcting the defect in the ITR Form.
What is the time limit within which I can respond to a Defective Notice sent by Income Tax Department? Published on:14/06/2025
If your return is found defective, you will get 15 days of time from the date of receiving the notice or as the time duration specified in the notice to rectify the defect in the return filed by you. However, you may Seek Adjournment and request for an extension.
Is it mandatory for me to respond to the Seek for Clarification communication issued to me? If yes, then what is the time limit within which I should submit my response? Published on:14/06/2025
You should submit / provide your response as per the due date mentioned in the communication issued to you. In case the due date has passed and no response has been provided, CPC will process the return with the information available with them.
Can we get marginal relief in 87A rebate if income is slightly higher than the threshold? Published on:14/06/2025
For old regime, marginal relief can not be claimed for 87A rebate. However, in case of new regime u/s 115BAC, marginal relief can be claimed if income in excess of Rs. 7 Lakhs threshold is less than tax on the excess income.
The assessee is a political party and claimed exemption u/s 13A in the return of income filed. However, the exemption claimed was not allowed while processing the return. Please suggest what action is Published on:14/06/2025
The assessee is required to fulfill all the conditions laid down in Section 13A and accordingly assessee is required fill Schedule LA of the return.
What are the points to be considered while claiming exemption u/s 11 and u/s 12 or u/s 10(23C)(iv)/(v)(vi)(via) in the return of income? Published on:14/06/2025
Registration/approval details should be filled in Schedule Part A General • Please ensure that section under which exemption claimed in Part A General and Part BTI are same.
Is there any restriction with regard to claim of cost of new asset for claim of exemption u/s 11(1A) of the Act. Published on:14/06/2025
If Exemption u/s 11(1A) claimed in Schedule A under column “Capital” exceeds the net consideration disclosed in Schedule AI then exemption will be allowed to the extent of net consideration shown in Schedule AI.
The trust has made a claim for deemed application of income under clause (2) of Explanation 1 of sub-section (1) of Section 11 Published on:14/06/2025
The assessee may file revised Form 9A or return as applicable. If the revised Form 9A is filed within the due date for filing return u/s 139(4)
Where to enter deemed income u/s 41? Published on:14/06/2025
Use following steps: • Go to Other Form Data>>General Information II>>Sr No 16>>Enter the amount of deemed income u/s 41:
How to enter disallowance u/s 43B in ITR Published on:14/06/2025
To enter disallowance u/s 43B in ITR, use following steps: Go to Other Form Data>>General Information II>>Sr No 13 hyperlink>> enter amount in the relevant head:
How to enter disallowance u/s 37 in ITR Published on:14/06/2025
To enter disallowance u/s 37 in ITR, use following steps: Go to Other Form Data>>General Information II>>Sr No 9>> enter amount in the relevant head
How to enter disallowance u/s 40A in ITR Published on:14/06/2025
To enter disallowance u/s 40A in ITR, use following steps: Go to Other Form Data>>General Information II>>Sr No 11 hyperlink>> enter amount in the relevant head:
Can 87A rebate be claimed against capital gains and special rate incomes? Published on:14/06/2025
As per section 87A of the Income Tax Act, 1961, the words mentioned are “total income” and “hundred per cent of such income-tax” clearly state that the rebate is allowed on total tax i.e.
Am I required to keep a copy of the return filled as proof and for how long? Published on:14/06/2025
Yes, since legal proceedings under the Income-tax Act can be initiated for past years, you must maintain copy of return. After the introduction of the e-filing facility, it is very easy and simple to maintain a copy of return of income.
Why is return filling mandatory, even though all my taxes and interests have been paid and there is no refund due to me? Published on:14/06/2025
Amounts paid as advance tax and withheld in the form of TDS or collected in the form of TCS will take the character of your tax due only on completion of self-assessment of your income. This self-assessment is intimated to the Department by way of filing of the return of income. Only then the Government assumes rights over the taxes paid by you. Filing of return is critical for this process and, hence, has been made mandatory. Failure will attract levy of penalty.
Will I be penalised on late filling of ITR even if I am not liable to file it? Published on:14/06/2025
No, late filing fee under section 234F not leviable in case you are not required to file ITR as per section 139 but filing it voluntary though after the due date
Who cannot use Form ITR-2? Published on:14/06/2025
Form ITR - 2 cannot be used by an individual and HUF whose total income for the year includes income from profit and gains from business or profession and also having income in the nature of interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from partnership firm.
Who can use ITR-5 Published on:14/06/2025
Form ITR – 5 can be used by a person being a firm, LLP, AOP, BOI, Artificial Juridical Person (AJP) referred to in section 2(31)(vii), local authority referred to in section 2(31)(vi), representative assessee referred to in section 160(1)(iii) or (iv), cooperative society, society registered under Societies Registration Act, 1860 or under any other law of any State, trust other than trusts eligible to file Form ITR – 7, estate of deceased person, estate of an insolvent, business trust referred to in section 139(4E) and investments fund referred to in section 139(4F).
Who cannot use Form ITR-3? Published on:14/06/2025
Form ITR – 3 cannot be used by any person other than an individual or a HUF. Further, an individual or a HUF not having income from business or profession cannot use ITR-3.
Budget changes 2025- Income Tax Published on:14/06/2025
Budget changes 2025- Income Tax
Can a return of income be filled after the expiry of due date to file belated return? Published on:14/06/2025
The Finance Act 2022, has inserted subsection (8A) in section 139 to enable the filing of an updated return. The section provides that an updated return can be filed by any person irrespective of the fact whether such person has already filed the original, belated or revised return for the relevant assessment year or not (subject to certain conditions). An updated return can be filed at any time within 24 months from the end of the relevant assessment year
Who cannot use ITR-5? Published on:14/06/2025
Form ITR – 5 cannot be used by, a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or139(4D) (i.e., trusts, political party, institutions, colleges).
Who cannot use Form ITR-7? Published on:14/06/2025
Form ITR-7 cannot be used by a person who is not required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) (i.e., trusts, political party, institutions, colleges).
How to calculate 15% surcharge on Capital Gains and Dividend, and 25% on remaining income for MMR Tax Method (AY 2023-24 onwards) under New Tax Regime? Published on:14/06/2025
To calculate 15% surcharge on Capital Gains and Dividend, and 25% on remaining income for MMR Tax Method (AY 2023-24 onwards) under New Regime user should navigate to:
How to update Activity Center with API Published on:14/06/2025
Go to Online Services click on API mode, then go to Activity Center
How to Import A Tax & S Tax from AIS Published on:14/06/2025
Go to Income Details screen click on view button
How to Prepared & Upload Form 15H Published on:14/06/2025
Go to Application TDS >> E-file >> E-file Form 15G/15H
Which information is required to be filled in PART A General of ITR-7? Published on:14/06/2025
In part A General, furnish the information relating to identity of assessee,
When will a Trust/institutions be eligible for exemption under Section 10(23C)(iiiab) or 10(23C)(iiiac)? Published on:14/06/2025
Trust/institutions are eligible for exemption under Section 10(23C)(iiiab) or 10(23C)(iiiac)
Do I need to mention income included in total income for which claim under section 90/90A/91 has been made? Published on:14/06/2025
Yes, indicate whether any foreign source income is included in total income
What are the incomes that need to be reported in Income & Expenditure Statement if you are claiming exemption under section 10(23A) or 10(24)? Published on:14/06/2025
In Schedule IE-2: In Part A In Part B
What information is required to be furnished if trust held unlisted equity shares at any time during the previous year? Published on:14/06/2025
If you have held investment in any unlisted equity shares at any time
Who can verify the income tax return in the case of the company, local authority, political party or AOP? Published on:14/06/2025
The persons who can verify the income tax return in the following cases are:
FAQ's on ITR 6 Filing Is it mandatory to file form 10IB/10IC/10ID within due date to claim the benefit of New Tax Regime under section 115BA/ 115BAA/ 115BAB respectively? Published on:14/06/2025
Taxpayer is required to file the form 10IB/10IC/10ID within due date
What are the Pre-requisites for filing ITR-6 Published on:14/06/2025
Registered user on e-filing portal with Active PAN
How do I reset my Taxbase Software’s User Id’s Password Published on:14/06/2025
Clock on Taxbase Icon on Desktop you will get login screen as below. You will see Forgot Password option on the login screen previous to Login button shown in red color, click on this option you will get below screen
What are new changes for ITR 3 A Y 24 - 25 Published on:14/06/2025
1) Tax rate changes for new regime u/s 115BAC 2) New regime is default regime
What kind of activities in which Institution can be involved? Published on:14/06/2025
Following are the types of activities in which institution can be involved
Which information is required to be filled in PART A General of ITR-7? Published on:14/06/2025
In part A General, furnish the information relating to identity of assessee
What are the details to be provided for claim of Exemption u/s 13A Or u/s 13B? Published on:14/06/2025
Following are the details to be provided for claim of Exemption u/s
What are the details to be provided for claim of Exemption u/s 10(23C)(iv)/(v)/(vi)/(via) of the Act? Published on:14/06/2025
Registration/approval details u/s 10(23C)(iv)/(v)/(vi)/(via) should be filled in Schedule Part A General
Can I view my response once I have submitted my response to the notice issued to me? Published on:14/06/2025
Yes, you can view the response submitted by you or by your Authorized Representative.
The assessee is eligible to claim exemption u/s 10(23D) and has filed return of income claiming exemption u/s 10(23D). Published on:14/06/2025
While filing the return of income, the assessee is required to claim the exemption
During the year, objects of the trust is changed and fresh registration has not been obtained and the same details are entered in Part A General. Whether the trust is eligible to claim exemption? Published on:14/06/2025
If the objects of the trust are changed during the year and fresh registration is not obtained exemption claimed in the return will not be allowed.
If the purpose of the trust is advancement of any other object of General Public Utility Published on:14/06/2025
percentage receipts from such activities is not exceeding 20%
The trust has made a claim for accumulation of income and filed Form 10 but there is a inconsistency in the amount of accumulation claimed Published on:14/06/2025
If the revised Form 10 is filed within the due date for filing return u/s 139(4) The assessee may request for rectification
The trust has made a claim for accumulation of income and was required to file Form 10 within the due date Published on:14/06/2025
If delay is up to 365 days - Assessee may file application before the jurisdictional CIT(Exemption) for condonation of delay.
I received intimation order u/s 143(1)/154 but it does not give the amount of carry forward losses reported by me in my return of income in form ITR-2. Published on:13/06/2025
In order to be able to carry forward current year losses, the taxpayer must ensure that the income tax return
What are the new surcharge rates for A.Y. 2020-21 for Individuals/ HUF? Published on:13/06/2025
Following are the changes in surcharge rates for Individual/HUF:
I paid taxes in a foreign country and claimed the tax credit for the same in income tax return filed in India. But my claim was not granted. Published on:13/06/2025
A taxpayer who is tax resident in India may claim credit of taxes paid in a foreign country
Why is there a difference in the amount of my total tax liability computed by the income tax Department vis-a-vis the amount reported by me in my return of income? Published on:13/06/2025
Computation of total tax liability is a step by step process. Basic tax liability is computed based
I submitted my return with old tax regime but my taxes have been computed as per new tax regime as per intimation order u/s 143(1)/154 issued by the Income-tax Department. Published on:13/06/2025
It may be appreciated that the new tax regime is the default regime from AY 2024-25 onwards
In the intimation order u/s 143(1)/154, the Income tax Department has set off my losses in a manner different than that reported by me in my return of income in form ITR-2. Published on:13/06/2025
In respect of losses of the current assessment year, the Income tax Act, 1961 provides that the taxpayer shall be entitled to set off of losses
Tax calculation on Sovereign Gold Bonds Published on:13/06/2025
For AY 2025-26, In asset type Debentures- Sovereign Gold Bond Ticked, if securities are sold before 23rd July 2024, then tax will be calculated @10% without indexation or 20% with indexation whichever is beneficial to the user
Tax Calculation on listed debentures Published on:13/06/2025
For AY 2025-26, In asset type Debentures- Listed Debenture Ticked, if securities are sold before 23rd July 2024, then taxbase will calculate tax @10%.
How to disclose income received from Virtual Digital Assets (VDA) in the ITR? Published on:13/06/2025
In case taxpayer has earned any income from sale of virtual digital assets then he is required to disclose
Whether deduction u/s. 80DD or 80U can be claimed without filing the form 10IA? Published on:13/06/2025
Taxpayer is required to e-file the form 10IA to claim the deduction u/s. 80DD or 80U.
The trust or institution was registered u/s 12A/12AA or approved 10(23C) for claim of exemption in the old regime Published on:13/06/2025
If the fresh registration/approval is obtained within the extended period,
Why has my claim of relief u/s 89 relating to arrears or advance of any sum in the nature of salary not been granted by the income tax Department Published on:13/06/2025
Relief under section 89 is available to a resident individual if he has received:
How taxbase calculates tax on long term capital gains from sale of debentures (For AY 2025-2026)? Published on:13/06/2025
We can understand this by referring to below cases
How to enter long term capital gains (other than112A and Land & Building) chargeable to 12.5% tax (for AY 2025-26)? Published on:13/06/2025
To enter LTCG other than 112A please follow below steps
How taxbase calculates deduction u/s 54F in capital gains Published on:13/06/2025
Section 54F deduction can be claimed in full if the whole sales consideration is invested in new residential house property. Otherwise, the deduction is calculated in proportion to the sales consideration
Where to enter depreciation allowable under section 32(1)(i) in case of assets of an undertaking engaged in generation or generation and distribution of power? Published on:13/06/2025
Go to Business / Profession>>Details>>Allowable>>Select “Depreciation allowable under section 32(1)(i)”:
How to enter disallowance u/s 40 in ITR Published on:13/06/2025
To enter disallowance u/s 40 in ITR, use following steps: Go to Other Form Data>>General Information II>>Sr No 10A hyperlink>> enter amount in the relevant head:
FAQ's on Form 10B & 10BB Published on:13/06/2025
Please see the list of FAQ's from Government
How to import TDS challans in Application TDS? Published on:13/06/2025
To import TDS challans in Application TDS, use following steps: • Go to Challan and select Form in which you want to import the challans. • Select Quarter and click “Import from portal” button:
How to enter capital gains of personal / capital asset converted into stock in trade? Published on:13/06/2025
To enter capital gains of personal / capital asset converted into stock in trade, use following steps: • Go to Income details>>Capital gains. • Select asset type. • Tick “Personal asset converted into stock in trade”:
How can I see all Summary details of GSTPro on Home screen Grid? Published on:13/06/2025
In Taxbase GSTPro given new summary home screen. For open home screen double click on GSTPro >> Taxpayer row.
Where to enter interest disallowed u/s 23 of MSMED Act in Form 3CD? Published on:13/06/2025
You should enter interest disallowed u/s 23 of MSMED Act in Form 3CD Part B22 23>>22:
How will I know if there is a tax credit mismatch? Published on:13/06/2025
In the Tax Credit Mismatch page, after you enter your details, check for any mismatch between respective TDS / TCS / any other challan amounts
How to enter quarterly breakup in schedule CG? Published on:13/06/2025
In Schedule CG quarterly breakup to be entered on the basis of applicable tax rate.
How to disclose income received from winning from lottery, crossword puzzles, races, card games etc. in the ITR? Published on:13/06/2025
In case taxpayer has received any income from winning from lottery, crossword puzzles, races, card games etc. then
Can I adjust brought forward business loss or brought forward depreciation against the presumptive income declared u/s. 44BB or 44BBB? Published on:13/06/2025
No. Taxpayer cannot setoff the amount of brought forward business loss or
What precautions to be taken to claim TDS/TCS deducted/collected in the hands of others? Published on:13/06/2025
Before claiming credit of TDS/TCS from other PANs, please ensure that the other assessee has provided
What are the schedules which mandatorily are required to be filled for claiming exemption in ITR-7? Published on:13/06/2025
Certain schedules to this return form are mandatorily required to be filled
Is there any requirement to furnish information regarding any project/ institution run by the assessee? 2. Do I need to furnish the details of registration/Provisional registration or approval obt Published on:13/06/2025
Yes, Name, Nature of activity, classification along with details of registration/ provisional registration
What are the various acts in which assessee is required to get their books of account audited other than income tax act? Published on:13/06/2025
In case your accounts are required to be audited under any other law
FAQs On ITR7 1. Do I need to mention the Residential Status in ITR-7? 2. Can a representative assessee file ITR-7? 3.Do I need to mention income included in total income for which claim under sect Published on:13/06/2025
Yes. Please specify the residential status in India whether it is Resident or Non-Resident.
What information is required to be furnished in Schedule VDA, Schedule SI, Schedule 115JD? Published on:13/06/2025
Please fill up the details of the income from transfer of virtual digital assets.
How to select 22% tax rate u/s 115BAA for companies in taxbase? Published on:13/06/2025
To select 22% tax rate u/s 115BAA for companies, use following steps:
How to select 25% tax rate u/s 115BA for companies in Taxbase Published on:13/06/2025
To select 25% tax rate u/s 115BA for companies, use following steps:
How to select 15% tax rate u/s 115BAB for companies in taxbase? Published on:13/06/2025
To select 15% tax rate u/s 115BAB for companies, use following steps:
How to enter details of short-term capital gains / long term capital gains of listed shares/ mutual funds for Non-residents in taxbase? Published on:13/06/2025
There is no separate provision for non-residents to enter capital gains of listed shares/ mutual funds. You should use following steps:
How to import Broker Excel in Capital Gain of TaxbasePro Software Published on:13/06/2025
Go to the Income Details Screen as below. Then go to Capital Gain option of Income Details as below.
How to import broker’s capital gain statement in Taxbase Published on:13/06/2025
To import broker’s capital gain statement in Taxbase, follow below mentioned steps: • Go to Income details>>Capital gains.
FAQ's on My Taxbase APP Published on:13/06/2025
Why company needs tax declaration? Which deductions under chapter VI-A can I show in my tax declaration?
Who can file ITR-5 Form Published on:13/06/2025
Firm & Limited Liability Partnership (LLP)
FAQ;s on ITR 5 Filing Is taxpayer required to file Form 10IF every year for claiming the new Tax Regime? Published on:13/06/2025
No. Taxpayer is not expected to file the form 10IF every year.
Check Inoperative PANs- Process in Taxbase Published on:13/06/2025
Following is the process to check the PAN status on the basis of Aadhaar linking in Application TDSPro. PAN status (operative or inoperative) will be fetched in 26Q data entry while entering deduction details and TDS rate will be changed to 20% in case of inoperative PAN.
What is the structure of the ITR-7 Form? Published on:13/06/2025
The ITR-7 form has been divided into Part A, Part B and Schedules
Where to enter dividend U/S 222E Published on:13/06/2025
Click on Other Sources >>Scroll down on dividend
How to opt for new tax regime for co-operative societies Published on:13/06/2025
Tick on New Regime u/s 115BAD to opt for New Regime. This option will be seen available only in case of Co-op societies.
Movement of Shares Report Published on:13/06/2025
Step 1: Go to Movement of Shares and do your regular data entry of Shares Opening, Purchase & Sales, based on this you will get closing stock script wise as below.
How to download AIS (Annual Information Statement) from Taxbase Software? Published on:13/06/2025
Go to Online Services -> Download AIS After this it will divert you to Income Tax Website and fetch your login id & password from the software onto Web Site
How to remove bank accounts mistakenly added on portal Published on:13/06/2025
>> Login on Income tax portal >> Click on My bank Accounts option on left side of dashboard screen >> It will ask you reason for removal. Select the reason and proceed. Such account will be shown in removed bank accounts tab with reason
Why family pension deduction is not fetched automatically in deduction u/s 57? (New regime case) Published on:13/06/2025
>> As per section 115BAC of the Income Tax Act, Deduction under clause (iia) of section 57 i.e Family pension is not allowed.
Where to enter dividend income credited to P&L, but to be considered separately Published on:13/06/2025
>> Income details>>Business & Profession >> Details>>Treated Separately >> Click on Income/Receipts credited to P & L under other Income>>Other Sources link >>Here, enter dividend and other than dividend income credited to P&L, but to be considered separately in other sources head.
Common issues on New Income Tax portal Published on:13/06/2025
Our finance ministry & CBDT have taken a decision to switch over from the then income tax website www.incometaxindiaefiling.gov.in”to new website www.incometaxindia.gov.in”. However, users are facing many issues on the new portal due to technical glitches. We have listed out some common issues faced by users:
How do I Activate New Tax Regime for Tax Computation Published on:13/06/2025
First you do the Tax Computation
What are the surcharge rates of Individuals for A. Y. 2021 - 2022 Published on:13/06/2025
Surcharge rates for Individuals/HUF/AOP/BOI are as follows:
How to calculate 15% surcharge on Capital Gains and Dividend, and 37% on remaining income for MMR Tax Method (AY 2023-24 onwards) under Old Tax Regime? Published on:13/06/2025
To calculate 15% surcharge on Capital Gains and Dividend, and 37% on remaining income for MMR Tax Method (AY 2023-24 onwards) under Old Regime user should navigate to:
How to Change Tax Calculation as per New or Old Regime Published on:13/06/2025
Step 1 : Fill up Data Entry
How to register for Taxbase Cloud & Start working Published on:13/06/2025
Click on login screen and select backend at CloudMySQL
How do I take Backup of my Data ? Published on:13/06/2025
Go to Miscellaneous -> Take Daily Backup Go to Exit -> Exit
Who can use Form ITR-3? Published on:13/06/2025
Form ITR-3 can be used by an individual or a Hindu Undivided Family who is having income from profits and gains of business or profession.ITR – 3 is also required to be filed by a person whose income is chargeable to tax under the head “Profits and gains of business or profession” is in the nature of interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from a partnership firm
The aggregate annual receipt of the trust or institution for the previous year is Rupees two crore out of which Rs. 75 lakh is Government Grants Published on:13/06/2025
As per the provisions of the Act, exemption claimed u/s 10(23C)(iiiab) / (iiiac)
I submitted my return of income claiming lower tax rates per the rates DTAA between my resident jurisdiction and India. However, my claim of lower tax rates was not accepted. Published on:13/06/2025
Non-resident taxpayer claiming benefit of lower tax rates under the relevant DTAA, you are requested
What is the amount of standard deduction u/s 16(ia) from salary for old regime for AY 2025-2026? Published on:13/06/2025
The amount of standard deduction
Why have I been charged fee u/s 234F? Published on:13/06/2025
Fee u/s 234F will be charged if taxpayer defaults in furnishing return of income within the
Why have I been charged interest u/s 234B and/or 234C? Published on:13/06/2025
Interest u/s 234B will be charged if taxpayer fails to pay at least 90% of the total tax liability after relief as advance tax.
How to calculate MAT credit to be carried forwarded and its utilization in future years? Published on:13/06/2025
You should use following steps to calculate MAT Credit of current year to be carried forwarded to future years:
Where to enter disallowance u/s 43B(h) i.e. payment to MSMEs after due date under MSMED Act in Form 3CD? Published on:13/06/2025
You should enter disallowance u/s 43B(h) i.e. payment to MSMEs after due date under MSMED Act in Form 3CD Part B22 23>>22:
How to claim TDS deducted in hands of other person (spouse/minor child/Rule 37BA) in the return of assessee? Published on:13/06/2025
i)Go to Tax Deduction at Source on Income details screen.
If a Company is declaring business income other than presumptive income, then is it mandatory to fill manufacturing account / trading account / profit and loss account / balance sheet? Published on:13/06/2025
Yes, if a Company is declaring business income other than presumptive income, then it is mandatory
If a foreign company is selecting to offer income only under section 44AE/44B/44BB/44BBA/44BBB/44D, is it mandatory to fill Sl. No. 62 of profit & loss account? Published on:13/06/2025
Yes, if a foreign company is selecting to offer income only under 44AE/44B/44BB/44BBA/44BBB/44D it is mandatory
I have offered income of "Chapter- XII-G (tonnage)" in Schedule BP. While calculating the tax MAT is getting calculated on the same, but provisions of MAT are not applicable in this case. How to discl Published on:13/06/2025
While calculating MAT, any incomes on which MAT is not applicable needs to be reported at
In earlier years either me or persons known to me have received notice of 37BA proposing to restrict credit for TDS. What precautions to be taken at the time of filing of return to avoid the same? Published on:13/06/2025
It should be ensured to disclose the gross receipts shown in Form 26AS on which credit for TDS has been claimed,
Whether current year losses can be carried forwarded to next year without adjusting the same against the current year income? Published on:13/06/2025
In Schedule CYLA, current year losses will not be allowed to be carried forward to the next year to the extent of incomes available for set off.
In Part A – Other Information, why the entry at Sl. No. 10(h) "Any sum payable to a micro or small enterprise beyond the time limit specified in the Section 15 of the Micro, Small and Medium Enterpris Published on:13/06/2025
Since the provisions of disallowance are applicable from the AY 2024-2025,
If the return for previous years were filed after due date, then brought forwarded loss from those years can be adjusted from current year income? Published on:13/06/2025
If the return for any year was filed after due date, then the loss is not allowed to be carry forwarded
I was trying to file return after due date by claiming loss from Business & profession which is on account of "Unabsorbed depreciation". Can the said losses be carried forward to next year? Published on:13/06/2025
If the return is filed after due date, then Business loss cannot be carried forward to next year as per the Act.
Can Income chargeable to tax at special rate be shown only in Part-B- TI, without giving the details of the same in the relevant schedules? Published on:13/06/2025
Income chargeable to tax at special rate needs to be shown in the relevant income schedules along with Part B-TI.
What are the details to be provided for claim of Exemption u/s 11 of the Act? Published on:13/06/2025
Registration/approval details u/s 12A/12AB should be filled in Schedule Part A General
What information is required to be furnished in Schedule VC, Schedule AI, Schedule A, Schedule OA ? Published on:13/06/2025
Voluntary Contributions [to be mandatorily filled by all persons of filing ITR-7]
How to calculate 87A rebate for AY 2024-25 onwards for new regime Published on:13/06/2025
For new regime, 87A rebate for AY 2024-25 will be calculated as 100% of tax amount or Rs.25,000/- whichever is lower. Full rebate is available only if total income of the assessee is upto Rs.7,00,000/-.
What are the changes for ITR 1 & ITR 4 for AY 2025-26? Published on:13/06/2025
Section 80E: Interest on Loan taken for higher education
Which information is required to be filled in PART A General of ITR-7 Published on:11/06/2025
In part A General, furnish the information relating to identity
My Self-Assessment / Advance Tax in my Annual Tax Credit Statement (26AS) do not reflect the amounts deposited by me. What do I need to do now? Published on:11/06/2025
You need to validate the Challan number and your PAN in such cases.
What can I do if there is a tax-credit mismatch in one of my filed Income Tax Return? Published on:11/06/2025
If there is a mismatch in TDS :
How to import UDIN Details in TaxbasePro? Published on:11/06/2025
To import UDIN data in taxbase, use following steps: • Go to Master data>>Auditor Information and enter login details of UDIN website:
How to disclose Income by way of winnings from online games in the ITR? Published on:11/06/2025
In case taxpayer has received any income by way of winnings from online games then he is required
What is the manner of filing of ITR-7? Published on:11/06/2025
ITR-7 can be filed with the Income-tax Department electronically on the e- filing web portal
1. Are trusts liable for audit under the Income-Tax Act? 2. What are the details of auditor required to be furnished? Published on:11/06/2025
Yes. Where the total income of the assessee as computed without giving effect to the provisions of Section 11 and 12
FAQs On ITR7 1. What are the dropdowns to be selected for the field "Section under which registered/provisionally registered or approved/notified"? 2. Section under which return can be filed? Published on:11/06/2025
Enter the section under which registered/provisionally registered or approved/notified under the Income Tax Act.
Is it mandatory to furnish "Details of all the Author (s)/ Founder (s)/ Settlor (s)/Trustee (s)/ Members of society/Members of the Governing Council/Director (s)/ shareholders holding 5% or more of sh Published on:11/06/2025
Yes. This information is mandatorily required to be filled in Part A-General mentioning the
What information is required to be furnished in Schedule R, Schedule IA, Schedule DA? Published on:11/06/2025
Please fill up schedule R for reconciling the Corpus of Schedule J with Schedule Balance sheet.
FAQs On ITR 7 1.In previous year, I was a partner in a firm. Do I need to furnish this information in ITR-7? 2. What information is required to be furnished if trust held unlisted equity shares at a Published on:11/06/2025
If you were a partner in a firm at any time during the previous year, please furnish the Name & PAN of the firm.
Can ITR-7 be filed in response to notice/order? Published on:11/06/2025
Yes, In case the return is being filed in response to a statutory notice,
When will a Trust/institutions be eligible for exemption under Section 10(23C)(iiiab), 10(23C)(iiiac), 10(23C)(iiiae) or 10(23C)(iiiad)? Published on:11/06/2025
Trust/institutions are eligible for exemption under Section 10(23C)(iiiab) or 10(23C)(iiiac) only if the Government grants received is more than 50% of the total receipts including voluntary contribution. The below details to be mentioned in Schedule IE-3:
FAQs On ITR 7 1. What are the details required to be filled to claim Exemption u/s 10(21), 10(21) r.w.s. 35, 10(23AAA), 10(23B), 10(23D), 10(23DA), 10(23EC), 10(23ED), 10(23EE), 10(23FB), 10(29A), 1 Published on:11/06/2025
Details required to be filled to claim Exemption:
FAQs On ITR 7 1. What is the due date of furnishing the Audit Report? 2. Who are required to file audit report in Form 10B? 3. Who are required to file audit report in Form 10BB? Published on:11/06/2025
Form 10B or Form 10BB or Form 3CEB (in case of international transactions and specified domestic transactions) shall be filed at least one month prior to the due date for filing return of income u/s 139(1).
How to enter details of capital gains from sale of Virtual Digital Assets (e.g. crypto) in Taxbase? Published on:11/06/2025
To enter details of capital gains from sale of Virtual Digital Assets (e.g. crypto), use following steps:
How to enter business income from sale of Virtual Digital Assets (e.g. crypto) in Taxbase? Published on:11/06/2025
To enter business income from sale of Virtual Digital Assets (e.g. crypto), use following steps:
How to know which return is to be filed with DSC and when DSC is expiring from Taxbase Software? Published on:11/06/2025
In Assessee Static Information provided new provision to enter whether return is to be filed with DSC & its expiry date as below then save it.
Why I am getting defective notice after filing return for AY 24 -25 Published on:11/06/2025
Here are some reasons for Defective Notices for A. Y. 24 - 25
How tax liability in ITR U is calculated? Published on:11/06/2025
Tax liability in ITR U is calculated as follows
Where to show tax paid u/s 140B in ITR U Published on:11/06/2025
In self assessment tax>>Click on Tax paid on Updated return>>
How to track dividend from TaxbasePro Movement of Shares Module Published on:11/06/2025
From Application go to Movement of Shares Module, it will show you your Investments (Shares) data entry as below.
How to import Securities data directly from AIS to Capital Gain Published on:11/06/2025
First you need to download AIS / TIS from the income tax portal in the software as below
How to import all online details in one click Published on:11/06/2025
To import entire online data in Taxbase, click “Import from portal” button on the upper left corner of Income details screen
I am trying to generate ITR 1/2/3/4/5 for AY 2024-2025. Error is shown “Please select option in General Information Published on:11/06/2025
This error is shown due to mismatch of selection of tax regime on Income details and answer to 115BAC question in other form data>>General Information I.
How to check Comparison of Old & New Regime from Taxbase for your Assessee Published on:11/06/2025
You need to go to Reports option on the top >> then select Income Tax >> Compare Old / New Tax Regime. In this report you can compare tax computation of current year over previous years income, or you can compare tax computation for same Assessment year.
How to Activate your assessee for My Taxbase APP Published on:11/06/2025
Make sure your asseessee has his mobile number and email id entered in the software then go to applicaiton >> My Taxbase
What are new changes for ITR 4 A Y 24 - 25 Published on:11/06/2025
Tax rate changes for new regime u/s 115BAC New regime is default regime
What are the changes for ITR 1 A Y 24 - 25 Published on:11/06/2025
Below are the changes for ITR 1 A Y 24 - 25
What are the Pre-requisites for filing ITR-5 Published on:11/06/2025
Registered user on e-filing portal with Active PAN
How to work with Movement of Shares in TaxbasePro Published on:11/06/2025
Go to Application >> Select Movement of Shares >> It will display list of Assessee
How to see Aadhar PAN Link status on the Taxbase Home Screen Published on:11/06/2025
Go to Miscellaneous >> Taxbase Home >> Select your Group or Assessee in the Group and click on update button it will display list of assessee’s or assessee as below.
How to see ITR filing status on the Taxbase Home Screen? Published on:11/06/2025
First select assessee then go to Online Services >> Tick on API Mode >> Click on ITR Dashboard >> then it will display you option to select A. Y. from the list.
ITR 7 Related some more FAQ's Published on:11/06/2025
For Details download the file.
Who can file ITR-7? Published on:11/06/2025
ITR-7 Form can be used by persons including companies who are required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D).
What is applicability to file Form 10B? Published on:11/06/2025
Form 10B is required to file where, -
What are the dropdowns to be selected for the field "Section under which registered/provisionally registered or approved/notified"? Published on:11/06/2025
Enter the section under which registered/provisionally registered or approved/notified under the IncomeTax Act
How to make TDS Offline Payment from TaxbasePro Published on:11/06/2025
Go to Challan, select 24Q, 26Q, 27Q or 27EQ
How to Update Outstanding Demand From I T Portal Published on:11/06/2025
Select Assessee, then go to Online Services, tick on API Mode
Which amount is to be entered in ITR U>>Additional Income table Published on:11/06/2025
While doing data entry in ITR U, entire income of the assessee for that year should be entered in Income details.
What information is required to be furnished in Schedule 115TD? Published on:11/06/2025
This Schedule should be filled out by the "Specified Person",
What information is required to be furnished in Part B3 (Part B TI)? Published on:11/06/2025
This Schedule can be filled by ONLY assessee claiming exemption
Do I need to furnish the details of registration/provisional registration or approval obtained? Published on:11/06/2025
Please fill the complete and correct details relating to registration/provisional registration
What are the details to be provided for claim of Exemption u/s 13B? Published on:11/06/2025
Registration details u/s 13B should be mentioned in Schedule Part A General
What are the details to be provided for claim of Exemption u/s 13A? Published on:11/06/2025
Section under which exemption claimed should be mentioned as Section 13A in Schedule Part A General
Section under which return can be filed? Published on:11/06/2025
Section under which the ITR-7 return can be filed
In previous year, I was a partner in a firm do I need to furnish this information in ITR-7? Published on:11/06/2025
If you were partner in a firm at any time during the previous year, please furnish the Name & PAN of the firm.
How to import AIS / TIS with API Published on:11/06/2025
Go to Income Details, then go to AIS TIS View Tab click on API Mode
How to make TDS Online Payment from TaxbasePro Published on:11/06/2025
Go to Challans select 24Q, 26Q, 27Q or 27EQ
How to download Intimations with API from IT Portal Published on:11/06/2025
Select Assessee, then go to Online Services click on API Mode
How to File Form 10E From TaxbasePro Published on:11/06/2025
Go to Income Details Screen, Select Salary, enter details of Arrears, Gratuity or Compensation
How to download AIS & TIS and transfer data to relevant heads. Published on:11/06/2025
Select Assessee name, then select A Y then go to Income Details,
Which amount is to be entered in ITR U>>Amount payable/refund as per last valid ITR Published on:11/06/2025
In ITR U>>Sr No. 5 or 6i or 6ii>>Here, amount payable or refund as per last filed return should be entered
I have received notice in which assessee is a co-operative society and Interest income which is deductible u/s 80P is added to Business Income. Published on:11/06/2025
Interest/dividend from other co-operative society is not exempt income, but it is deductible u/s 80P. However, while making data entry in Business/Profession>>Treated separately, users tick “Income claimed exempt” for such income.
Online Services from Taxbase Software is not working, how it will work Published on:11/06/2025
On 19th of October there is changes in the Chrome Drivers, if you have not updated your Chrome then Online Services will not work.
In case of ITR 6 we have not opted for any section of new regime i.e. 115BAA/BA/BAB. Still I need to fill details in More details tab. Why? Published on:11/06/2025
As per Notified ITR 6 you have to fill details of opting 115BAA/BA/BAB in any previous AY even if you have not opted it in current AY.
How to File Form 10IE From TaxbasePro Published on:11/06/2025
Select Assessee, then go to Income Details, Fill Business or Profession Income then click on Form 10IE
How to Prepared & Upload Form 15G Published on:11/06/2025
Go to application TDS >> E File >> E file Form 15G/15H
How to Import Capital Gain Entries from AIS Published on:11/06/2025
Go to Income Details Screen click on View
How to update Refund Status from TaxbasePro Published on:11/06/2025
Select Assessee, then go to Online Services, Tick on API Mode
How to prefill assessee details with API Published on:11/06/2025
Go to Online services select API at bottom
How to Update ITR Dashboard with API Published on:11/06/2025
Go to Online Services Select API Mode then go to ITR Dashboard
How to validate TDS challan with API Published on:11/06/2025
Go to Challans select section like 24Q, 26Q & other
How do I download Intimation with API in Taxbase? Published on:11/06/2025
Go to Online Services, on this screen select API mode, then click on Intimation, it will show you below screen.
How do I download Refund Status with API in Taxbase? Published on:11/06/2025
Go to Online Services, on this screen select API mode, then click on Refund Status, it will show you below screen.
Various FAQ's on ITR 1, 2, 3, 4, 5, 6 & 7 from Department Published on:11/06/2025
ITR 1 ITR 2 ITR 3
Various FAQ's on ITR 7 From Department Published on:11/06/2025
Under which section ITR-7 return can be filed Can ITR-7 be filed in response to notice/order
AIS TIS Related more queries Published on:11/06/2025
In AIS/TIS, once the data is imported, click on “Transfer data to relevant head”.
While filing TDS return, why two options for downloading CSI file are given Published on:11/06/2025
From September 2025 onwards, TDS payment facility is made available from Income Tax portal.
How do I download e-Proceeding with API in Taxbase? Published on:11/06/2025
Go to Online Services, on this screen select API mode, then click on e-Proceeding, it will show you below screen.
How do I download Dashboard with API in Taxbase? Published on:11/06/2025
Go to Online Services, on this screen select API mode, then click on Dashboard, it will show you below screen.
FAQ's on ITR U Published on:11/06/2025
What is the time limit for ITR U Can we claim refund for if it is updated return?
How is Sr No. 3- Amount payable (if any) of ITR U calculated? Published on:11/06/2025
It is calculated as follows
How interest u/s 139(8A) is calculated Published on:11/06/2025
Interest u/s 139(8A) is calculated on differential tax amount which is payable in updated return. Differential tax is amount payable as per updated return less tax payable as per original ITR.
FAQ's on Form 3CEB From Department Published on:11/06/2025
FAQ's on Form 3CEB as per Government
What are the dropdowns to be selected for the field "section under which registered / provisionally registered or approved/notified"? Published on:11/06/2025
Enter the section under which registered/provisionally registered or approved/notified under the Income Tax Act.
What are the kind of activities in which institution can be involved? Published on:11/06/2025
Charitable & religious: Research: Professional Bodies :
What are the schedules mandatorily required to be filled for claiming exemption in ITR-7 Published on:11/06/2025
Certain schedules of ITR-7 return form are mandatorily required to be filled up by assessees claiming exemption under specific provisions, as per the following list
What is the manner of filing of ITR-7 Published on:11/06/2025
ITR-7 can be filed with the Income-tax Department electronically on the e- filing web portal of Income-tax Department (www.incometax.gov.in) and verified in any one of the following manners–
While trying to file the ITR-7 claiming exemption under below sub-sections, I am not able to find the relevant dropdown in ITR 7 utility. What should I do in this regard Published on:11/06/2025
Section 10(20); Section 10(23AA); Section 10(23AAB); Section 10(23BB);
I have received notice in which assessee’s other income is added in business/profession. Published on:11/06/2025
As per department, amount entered in Form 3CD or General Information II in Income not credited to P&L
I have received notice in which special rate income is taken in full whereas I have set off the losses against it. Published on:11/06/2025
If assessee has current year loss of House Property or Business/Profession, department first sets off this income
I have received notice for ITR 5/ITR 7 which is AOP/Trust. Tax is levied at MMR wherein normal rate of tax is selected in static information Published on:11/06/2025
As per section 167B of the Income Tax Act, 1961, if share of members of AOP/BOI is not determined, such AOP/BOI is taxed at Maximum Marginal Rate.
I am trying to generate 27EQ Return for Quarter 2 of FY 2024-2025. My challans are shown as mismatched. Published on:11/06/2025
If payment is made on NSDL website, then Challan input file (.CSI) will be available on NSDL website only after 3 – 4 working days from the date of payment of the challan to the bank.
How do I Share Form 26Q through Cloud from Software? Published on:11/06/2025
Step 1: Select Assessee from TDS Home Screen then Go to TDS/TCS Data Entry -> Form 26Q Step 2: Click on Taxbase Cloud ->
How to Upload Bank Statement in Taxbasepro Published on:10/06/2025
1. You need to get your any Bank Statement in the Excel format as shown below 2. Then go to Taxbase -> Application -> Bank Statement it will show you below screen 3. Then click on Import File button it will give you below screen
How to Clear 115JC Error while return validating? Published on:10/06/2025
After entering your income details in the respective heads, prints respective Income Tax Return Form then it gives below error message pertaining to 115JC
Why have I been charged interest u/s 234A? Published on:10/06/2025
If the taxpayer files her return of income after the due date prescribed u/s 139(1) or the extended
How to compare AIS with Income details in ITR using taxbase Published on:10/06/2025
Go to Income details>>Select AIS/TIS>>Click on View button Click on Download AIS/TIS.
How to calculate surcharge at maximum rate irrespective of income in case of MMR (AY 21-22 onwards)? Published on:10/06/2025
To calculate surcharge at maximum rate irrespective of income in case of MMR (AY2021-2022 onwards) user should navigate to
What is the structure of the ITR-7 Form Published on:10/06/2025
ITR-7 form has been divided into Part A, Part B and Schedules.
How to e-pay tax through ITD portal from taxbase? Published on:10/06/2025
To pay tax from ITD portal, select the challan and click on E-payment button in Self-assessment tax / Advance tax.
I have received notice of the assessee in which 234C interest additional liability is demanded. Published on:10/06/2025
Below may be the reasons of such notice:
While filing ITR 7 for AY 2025-2026, warning message is shown Published on:10/06/2025
As per department rules, application of income should match with contributions received. Hence, user should ensure that in Trust specific details, Sr No 1 + 3 should be equal to or more than Sr No. 4.
How to file ITR U From TaxbasePro Software? Published on:10/06/2025
Select Assessee who’s ITR U you want to file & select A Y 2021 – 2022 as below. On this income details screen click on ITR U given on Top once you click on ITR U then on bottom next to Approved by ITR U button will be displayed as below.
Why is message shown as Tick on Approved By Checkbox before printing return? Published on:10/06/2025
Now it’s a pick time for filing Income Tax Returns as return filing due date is coming near and near. In C. A’s. offices returns are prepared by their assistance and without confirmation it is uploaded on the Income Tax Portal. To avoid wrong uploading of return on the portal it has to approved by authorized person in the office so below message is shown.
Why Does Indexation value get calculated in TaxbasePro ? Published on:10/06/2025
For this please check below example in this example we have shown two entries of Adiya & Motilal with Sales Value, Acquisition Value & Index Acquisition value.
How to Clear 115BAC (New Regime Error) From TaxbasePro ? Published on:10/06/2025
When you will go to Income Details Screen and tick in the check box provided for New Regime for new Tax Calculation Process.
How to claim NPS Deduction in TaxbasePro Published on:10/06/2025
First you have to go to Miscellaneous -> Users Parameters -> Taxbase -> Salary and Tick on the option given as Apply 14% deduction for State Government Employees as shown below
Where to enter deemed income u/s 43CA? Published on:10/06/2025
Go to Business / Profession>>Open “Profit and Gains (2)”>>Enter amount in 43CA:
How to check 206AB & 206CCA Compliance from Taxbase ? Published on:10/06/2025
Select Assess who’s compliance you want to check from TDSPro as below Then double click on the deductor it will show you list of deductee as below then export your deductee list from Export PAN given button at the bottom as shown in the screen shot
How to do data entry of Deduction under 80M for Companies Published on:10/06/2025
For this you need to enter Dividend Income in Profit Loss account as below and save it Then go to Less Deduction under Chapter VIA / 80C and select section 80M as below.
How to increase the font size of Income Details Published on:10/06/2025
When you go to Income Details screen for doing data entry but, font size of the screen is not readable you want to increase the font size of below screen.
I claimed deductions under Chapter VI-A which were not allowed by the Income-tax Department at the time of processing my return of income in ITR-2. Published on:10/06/2025
The deductions under Chapter VI-A are allowable only if the taxpayer is eligible
How to enter interest expenditure for dividend income Published on:10/06/2025
>> Income details>>Other sources>>Save dividend entry. >> Thereafter, click on tab Deductions u/s 57 >> Enter amount in below mentioned line.
How to clear Configuration system failed to Initialize error while viewing reports? Published on:10/06/2025
1. Go to Local Disk C:\ 2. Go to C:\Users 3. Go to C:\Users\Your Users Name 4. Go to C:\Users\Your Users Name \AppData 5. Go to C:\Users\Your Users Name\AppData\Local
How do I prepare Audit Report Form 3CD with previous years 3CD audit XML file in Taxbase? Published on:10/06/2025
Step 1: Go to Miscellaneous -> Taxbase Home -> Select Assessee -> Select previous A Y as 2020 – 2021 Step 2: Go to Forms & Select Form 3CA / 3CB / 3CD as below Step 3: Go to Import XML as below
What are the new changes of 3CD Audit Report Published on:10/06/2025
In Clause No 18 of Depreciation two new columns are added as "Put to use for less than 180 days" and "Put to use for 180 days or more". These values will be auto-calculated on the basis of date of put to use entered in additions tab.
Why HUF return with Formation Data as 01/01/0001 is not uploading from the Taxbase ? Published on:10/06/2025
In Govt HUF Schema there is restriction to Accept year as “0” it should be compulsory between 1 to 9 to avoid this you have to follow below steps In Master Data if you entered Date of Formation as 01/01/0001
Some schedules are disabled in ITR 7 details. How to enable them? Published on:10/06/2025
As per Government utility of ITR 7 schedules are enabled/disabled on the basis of return filing section. We follow the same functionality as Govt. Utility. Following schedules are disabled in Taxbase for respective return filing sections.
Why corpus fund is getting added to total income in ITR 7? Published on:10/06/2025
Please fill below details in Other form data>>ITR details.
Why tax is not calculated on Capital gain u/s 112A even though included in total income? Published on:10/06/2025
Capital gain u/s 112A is exempt upto Rs. 1,00,000. It is taxed on amount in excess of Rs. 1,00,000. As per presentation in Govt Utility, such income is included in Total Income in full. However, while calculating tax on it, Rs. 1,00,000 exemption is taken into account.
How to do Speculation Business Data Entry Published on:10/06/2025
Step 1>> Enter Business/Profession>>Balance Sheet>>Click on Profit and Loss Account. Step 2>> Enter details in Sr No 64/65 of Profit and Loss account
Where to enter details of split? Published on:10/06/2025
There is no specific provision in Taxbase as well as notified ITRs for the same. User needs to enter it in Capital gain>>Shares/Units in the same manner as he enters other transactions.
How to pre-validate bank account from taxbase Published on:10/06/2025
Open Bank Details Click on Pre- Validate Bank account
What are the New Features of Taxbase APP Published on:10/06/2025
Please Refer Attachment
How do I register my software License Published on:10/06/2025
Download Latest version from sinewave.co.in
How do I Restore my Data back into Software? Published on:10/06/2025
Go to Miscellaneous -> Import Data (Full Data)
While Starting Software shows Database Connection Failed Published on:10/06/2025
1. Taxbase.mdb File Corrupt 2. Software Unexpected Close 3. Machine is unexpected Close 4. Software is gone Not Responding every time.so create null Records in Data file
How to see Audit Trail Report from Taxbase Published on:10/06/2025
Step 1 : Go to Reports -> Audit Trail Report Step 2: Select option as Userwise Report or Assesseewise Report
What is section 206AB & 206CCA of Income Tax & how it works in Taxbase Software? Published on:10/06/2025
Section 206AB and 206CCA are newly inserted sections in the Income Tax. These sections are special provision for deduction/collection of tax at source at a higher rate for certain non-filers (specified person) of Income Tax Return.
Which are the new Features of Taxbase APP Published on:10/06/2025
Please Refer Attached File
How to import P & L in Part B 40 of Form 3CD Published on:10/06/2025
Open Form 3CD Part B 40- Accounting ratios with calculations Tick on “Pick from ITR” tickbox
How to show TCS on advance received in 27EQ? OR Which quarter is to be taken for 27EQ if date of invoice and date of collection fall in different quarters in case of TCS on sale of goods? Published on:10/06/2025
Following are some conditions given by NSDL for filling data in 27EQ: •Date of collection should not be less than start of relevant quarter. For example, if we are filing 27EQ for Q3 of FY 2020-21, then date of collection should be 01/10/2020 and onwards. •Date of debit/ receipt should be from start date Financial year in which relevant quarter falls till end of relevant quarter. For example, if we are filing 27EQ for Q3 of FY 2020-21, then date of debit/receipt should fall within 01/04/2020 to 31/12/2020.
How-to pick-up TDS Data from TDS software to Form 3CD? Published on:10/06/2025
Step 1: Go to Application -> TDS Step 2: Then go to TDS / TCS Data entry -> and check whether your data entry of TDS is exist in the TDS module as below.
How do I send various reminders to my customers through Email from Taxbase Published on:10/06/2025
Step 1 : Go to Miscellaneous -> User Parameters / Options -> Email Configuration Step 2 : Then go to Static information
How to download Notices received from Income Tax Department. Published on:10/06/2025
Step 1: In Taxbase go to Management >> Select Notice Management Step 2: Here click on Configure option to configure E-Mail Account >> Then click on Add Account
How to pick up data of Capital Gain from Movement of Shares Published on:10/06/2025
Step 1: Go to Application -> Movement of Shares you will get below screen. Step 2: click on the opening tab
How do I send SMS of various reminders to Customers from Taxbase Software Published on:10/06/2025
Step 1 : Go to Miscellaneous -> User Parameters / Options -> SMS Management
How taxbase calculates tax on long term capital gains from sale of shares on which STT is not paid (For AY 2025-26)? Published on:10/06/2025
We can understand this by referring to below cases
How to enter long term capital gains u/s 112A chargeable to 12.5% tax (for AY 2025-26)? Published on:10/06/2025
Please use following steps to enter LTCG u/s 112A:
Where to enter the Short term capital loss to be ignored u/s 94(7)/(8) in case of shares/units? Published on:10/06/2025
Step 1: Go to Income Tax >> Click on Income Details >> Go to Capital Gain
How do I enter Capital Gains bulk data into software? Published on:10/06/2025
Step 1 : Go to Income Details -> Capital Gain -> Click on export excel given at the bottom Step 2 : Open Excel and fill your data as shown below Step 3 : Save the excel file and come back to Capital Gain option to import the file as shown below & click on import Step 4 : It will give you message as below you have to decide the option
Where to enter Long Term Capital Gain of Agriculture Land which is Exempt Published on:10/06/2025
In Income Tax >> Income Details >> Exempt Income >> Income Claimed Exempt under Sec 10 >> Enter the details here and save.
Where to enter the details for Short Term Capital Gain entries where STT has been paid and same are Taxable @ 15%? Published on:10/06/2025
In Income Tax >> Income Details >> Click on Capital Gains >> Click on New >> Select Type of Assets as Shares/Units >
How to show TDS deducted in assessee’s hands, but claimed by spouse/ other person u/rule 37BA? Published on:10/06/2025
Go to Tax Deduction at Source on Income details screen. Tick on “Section 5A/other person as per rule Rule 37BA(2) Select “Self” in TDS relating to (1st column). Enter other details as usual. Enter TDS deducted and claimed Enter Income on which TDS is claimed by spouse/other person and TDS claimed by other person. Enter PAN/ Aadhar of spouse/ other person in whose return such TDS is claimed Enter Gross amount and head of Income as normal
Where to show Capital Gain from depreciable asset? Published on:10/06/2025
In Income Tax >> Income Details >> Go to Profit & Gains from Business / Profession >> Business/Profession >> Click on New
I have capital gain from sale of shares on which STT is not paid. Out of this capital gain, some amount is taxed @ 20% and some amount is taxed @ 10%. Why? Published on:10/06/2025
As per proviso to Section 112(1), tax on capital gain from sale of listed securities/zero coupon bond/unit of Mutual fund should be minimum of following: a. 20% of capital gain if acquisition cost is indexed b. 10% of capital gain if acquisition cost is not indexed
How to import Capital Gain Data from Excel. Published on:10/06/2025
Export Blank excel from capital gain window, fill your Capital Gain Data then save file, go to software, open Capital Gain option, and click on import from excel.
What is ‘ISIN code’ in case of LTCG u/s 112A? Why it is picked up automatically for some securities and not for others? Published on:10/06/2025
ISIN is International Securities Identification Number of share/unit. If you select name of scrip from our dropdown list, ISIN is picked up automatically. If you enter scrip name which is not there is the list, you have to enter ISIN manually. To know the ISIN of scrip, visit https://www.nsdl.co.in/list-codes.php
How do I import my Residential or Land Capital Data through Excel? Published on:10/06/2025
Step 1: Go to Income Details -> Capital Gain. Step 2: Select Blank Sheet for Data Entry and click on Export.
How to enter short term capital gains u/s 111A chargeable to 20% tax (for AY 2025-26) Published on:10/06/2025
Please use following steps to enter STCG u/s 111A:
How to enter long term capital gain from sale of land or building for AY 2025-26 Published on:10/06/2025
We can understand this using below cases:
How taxbase calculates deduction u/s 80JJAA Published on:10/06/2025
Deduction u/s 80JJAA is received in respect of employment of new employees. It is available in both, old as well as new tax regime.
How to enter MSME Interest disallowance u/s 23 in ITR? Published on:10/06/2025
To enter MSME Interest disallowance u/s 23 in ITR, use following steps:
How do I operate Taxbase Software with Short Cut Keys Published on:10/06/2025
For your convenience Sinewave has introduced shortcut keys for easy operation of our Taxbase Software
How can i import XML file into Govt Utility Published on:10/06/2025
Step 1: On Income Details Screen you can enter your details as below. Step 2: Click on Return of Income & select your ITR form Step 3: Create XML file as below.
How to enter SFT Details Published on:10/06/2025
Step 1: Go to Income Details Screen at the bottom you will see SFT button click on this
I am filing ITR of A.Y. 2025-26 before 30-11-2020. But Software calculated interest u/s 234A. Why? OR How to calculate interest u/s 234A for A.Y. 2020-21? Published on:10/06/2025
As per Notification no. 35/2020 of Income Tax, due date has been extended from 31st July 2020 to 30th November 2020. However, if tax on total income after reducing TDS/TCS and advance tax exceeds Rs. 1 Lakh rupees, interest u/s 234A will be calculated as if due date is 31st July 2020. For example, if tax payable is Rs.1,40,000/-, TDS Rs. 20,000/-, Advance Tax is Rs. 10,000/-, then 234A will be calculated as 140000-20000-10000= 110000 exceeds Rs. 1 Lakh. For calculating interest, challans paid on or before 31st July 2020 are deducted from tax. However, whose tax does not exceed Rs. 1 Lakh can pay taxes till 30th November 2020 and no interest u/s 234A will be levied till 30th November 2020.
Can we make multiple entries for same rate and block of depreciation? Published on:10/06/2025
should not enter multiple entries for same rate and block of depreciation. You should enter all details of same block and rate in one entry only to avoid wrong calculation, uploading errors and notices. Taxbase shows error message if you makes such data entry.
Where to enter Income related to manufacture of rubber, tea or coffee? (Rule 7,7A, etc) Published on:10/06/2025
From A.Y.2020-21, there is specific data entry for such income. Go to Income Details>>Business/Profession>>Profit and Gains 3>>Enter details>>
Where to enter negative interest to partners in return of partner (interest paid by partners on excess drawings) ? Published on:10/06/2025
Negative interest amount can’t be entered in Income from firms as it is not allowed as per utility. Hence, make following data entry:
Why allowable remuneration is freezed in case of 44AD/44ADA? Published on:10/06/2025
As per Section 44AD, no deduction further to 8%/6% shall be allowed u/s 30 to 38 shall be allowed if the assesse is opting for presumptive taxation. Proviso allowing deduction of interest and remuneration is omitted from A.Y. 2017-18. Hence, allowable remuneration is not calculated in that case.
How to do Data Entry in Form 3CD Point 18 Published on:10/06/2025
In Taxbase go to income details >> profit/gains from business profession >> business profession >> click on new >> enter depreciation details >> then in forms select form 3CD >> go to point no 13 part B (18 )>> click on copy depreciation from business income.
How to fill details of 44AD in ITR 3 Published on:10/06/2025
Step 1: Go on Business/Profession>>Balance Sheet>>Profit and Loss Account>>Expenditure side>>Sr No. 61/62>>Fill details and save. Step 2: Tick on no account case. Fill Asset and Liabilities details and save. Step 3: Save and Close Balance Sheet details and come to Business screen. Pick up profit.
What are the New Changes in GSTR 1. Published on:10/06/2025
GSTR 1 summary screen. A) Added count on invoice. Number of invoice inside GSTR 1 table display in summary screen. B) New buttons are provided under Import Data, Get Data & Upload JSON as below.
How to enter disallowance u/s 36 in ITR Published on:10/06/2025
To enter disallowance u/s 36 in ITR, use following steps: Go to Other Form Data>>General Information II>>Sr No 8 hyperlink>> enter amount in the relevant head:
I am filing return of A.Y. 2019-20 on 26-10-2019 when the due date is 31-10-2019 (audit case). However, software is calculating interest u/s 234A. Why? Published on:10/06/2025
As per F No. 225/157/2019/ITA.II of CBDT dated 27-09-2019, due date of filing returns of audit cases is extended from 30-09-2019 to 31-10-2019. However, interest u/s 234A is to be calculated as if due date is 30-09-2019. Hence, interest u/s 234A is calculated.
Can Non-Resident file ITR 4? Published on:10/06/2025
No. ITR 4 can only be filed by residents.
Where to enter disallowance u/s 43B(h) i.e. payment to MSMEs after due date under MSMED Act in ITR? Published on:10/06/2025
To enter disallowance u/s 43B(h) i.e. payment to MSMEs after due date under MSMED Act, use following steps:
How to sign the PDF documents digitally form the Software Published on:10/06/2025
In Taxbase go to Miscellaneous >> Select PDF Signer >> Here you can go to settings and do changes for location, image, page setting, position >> Then select Certificate (USB Token) >> Then you can select Files or Folder to be signed on and click on Sign Button.
In the Minor's IT return, where to show the minor child’s income clubbed with that of his parents? Published on:10/06/2025
In the IT return of minor, only that income which is not clubbed in the hands of parents is to be shown.
CRM Module Activation process & Mobile App features Published on:10/06/2025
Application -> Customer relation -> CRM Module Mgmt to Open Dashboard. Activate Tax payer & share Mobile App URL and Login information to Tax Payer.
Can Non-Residents file ITR 3 for Income u/s 44AD/44ADA? Published on:10/06/2025
As section 44AD/44ADA is not applicable to non-residents, non-residents cant file ITR 3 if they fill data in 44AD/44ADA.
What is turnover limit for audit u/s 44AB for A.Y. 2025-26? Published on:10/06/2025
As per amendment in section 44AB, turnover limit of audit for business u/s 44AB(a) is Rs. 5 Crores if it fulfils following conditions: (i) aggregate of all amounts received including amount received for sales, turnover or gross receipts during the previous year, in cash, does not exceed five per cent of the said amount (ii) aggregate of all payments made including amount incurred for expenditure, in cash, during the previous year does not exceed five per cent of the said payment However, if any of the above conditions are not met, limit of turnover is Rs. 1 Crore only. Note that turnover limit for professions is Rs. 50 Lakhs and above conditions are not applicable to professionals.
How to select 45% depreciation rate in Published on:10/06/2025
Go to Business/Profession>>Details>>Allowable>>Depreciation button>>Click on any user>> Select Block as Machinery and Plant>>Select rate as 45%.
Where to show remuneration paid to partners in case of 44AD/44ADA? Published on:10/06/2025
On Income details screen, go to Partners and enter remuneration details therein. Note that this has no effect on calculation of total income and this is only disclosure.
Where to enter foreign assets details? Published on:10/06/2025
Step 1: In Taxbase go to Income Details >> Then click on Other Form Data Step 2: Here click on Foreign Assets option Step 3: Enter details and save
How to use Return Record Register? Published on:10/06/2025
Step 1: In Taxbase go to Management >> Select Return Record Register Step 2: Here you will get Information about allotment and status of Return Step 3: You can enter pending documents and documents received in the table
How to file rectification return? Published on:10/06/2025
Step 1: Go to income details>>other form data Step 2: Select “Rectification” in Return options Step 3: After clicking on rectification tab>>new tab will open for notice number & notice date. Step 4: click on hide>>Save the return and upload xml in rectification tab. To file rectification return>>Go to online services and click on rectification.
Under ‘80G-Donations’ details, whether the PAN of the Donee is compulsory? Published on:10/06/2025
Yes. PAN of the Donee is mandatory for generating return as per CBDT. Note: If donee funds are setup by Government, enter the PAN as “GGGGG0000G”.
How to generate Form 10 E & do E-file Published on:10/06/2025
Go to Income Details >> Salary >> enter details in Arrears / Gratuity / Compensation >> save it >> Go to Forms >> select Form 10 E >> it will auto populated >> click on E-File
How to do LIC commission Entry in the software Published on:10/06/2025
Go to Income Details >> Business Profession >> LIC Commission >> enter details >> pick up the profit >> enter same in the P & L Credit side >> pick up in the Business
Is late fee u/s 234F applicable for revised return? Published on:10/06/2025
No. Late fee u/s 234F is applicable only if original return is filed after due date.
Can we file revised return using different ITR form? Published on:10/06/2025
Yes. ITR can be revised using different ITR form. For example, assessee having only 44AD income, who has originally filed ITR 3, can revise return using ITR 4.
Where to enter remuneration of partners if firm is filing ITR 4? Published on:10/06/2025
Partner’s remuneration is not be entered if firm is filing ITR 4 as there is no such provision in ITR from. It should be directly entered in Partner’s returns.
How to calculate surcharge at applicable rates for MMR Tax Method? Published on:10/06/2025
To calculate surcharge at applicable rates for MMR Tax Method user should navigate to
How to download e-Nivaran Published on:10/06/2025
Go to Online Services >> click on e-Nivaran >>Select A.Y. >>it will divert you to Income Tax Website, ID & password will be auto fetch, enter captcha code click on login it will pick up the details and update d-Nivaran
Family Pension Income in Other Sources Published on:10/06/2025
If assessee has a Family Pension Income in Other Sources as shown below,Then only this income will be considered automatically in deduction U/S 57
Section 115JC is not applicable to the assessee. Why validation of "Enter correct amount in Book Profit u/s 115JC" is shown while generating ITR Published on:10/06/2025
Even if Section 115JC is not applicable to the assesse since not claiming any deductions u/s 10AA, u/s 35AD or Schedule VI-A under heading C; Schedule AMT (u/s 115JC) is compulsorily to be filled for filing ITR as per CPC. It is filled only to the extent of total income and no other calculation is changed due to this. Hence, this validation is shown while generating ITR.
Where to enter expenses of exempt income inadmissible u/s 14A? Published on:10/06/2025
Enter Business/Profession>> Click on Details>>Select “Disallowed”>>Select option “ Expenses debited to P&L A/c related to exempt income”>> Enter amount.
Can a partnership firm file ITR 4? Published on:10/06/2025
Yes. Partnership Firms can file ITR 4, if their total income does not exceed Rs. 50 Lakhs and they want opt for presumptive taxation. However, if firm has income or loss from capital gains, ITR 4 can’t be filed.
Where to enter intra day share trading transactions (speculation), if books are not maintained? Published on:10/06/2025
Step 1>> Enter Business/Profession>>Balance Sheet>>Click on Profit and Loss Account. Step 2>> Enter details in Sr No 65 of Profit and Loss account.
How surcharge is calculated under marginal relief? Published on:10/06/2025
Marginal relief is applicable when surcharge at applicable rates is more than additional net income earned. For example, In case of Individual for A.Y. 2020-21, if total income at normal rates is Rs.50,50,000/-, Surcharge @ 10% on tax is Rs.1,32,750/-. However, if he would have earned Rs.50 Lakhs, there would have been no surcharge. Additional income in excess of surcharge threshold limit is Rs.50,000/- (50,50,000 – 50,00,000), which net of tax is Rs. 35,000/- (50,000 – 30% of 50,000). Hence, surcharge will be lower of net additional income i.e. Rs.35,000/- or surcharge at applicable rates i.e. Rs.1,32,750/-; therefore final surcharge amount will limit to Rs.35,000/-. (This calculation is shown on computation sheet also.) Extract of computation sheet for calculation of surcharge:
How to use Post Filing Information? Published on:10/06/2025
Step 1: In Taxbase go to Management >> Select Post File Information
How to enter data entry for National Savings Certificate Published on:10/06/2025
In Income Tax >> Income details >> Click on Other Sources >>Click on National Savings Certificate >>
How to update TDS Dashboard with API from Taxbase? Published on:10/06/2025
Go to Application TDS -> Select your Group & Name, then go to Management in this click on ITD(API). Then select Form Type and Quarter to update the TDS Dashboard.
While preparing TDS Return it creates only two files, how to clear this issue Published on:10/06/2025
Before selecting Quarter & Form Type “PLEASE MAKE SURE YOUR MACHINE HAS JAVA VERSION 1.181 INSTALLED.”
TDS rates as per dropdown 194J(a) and 194J(b) are not correct as per sub-sections of section 194J. Why? Published on:10/06/2025
As per file format provided by tin.nsdl website, section 194J is divided in two sub-parts (a) and (b). These sub-parts only represent serial numbers and not related to sub section f section 194J. As per file format screenshot below, sections are correctly incorporated in TDSPro.
How to enter TDS to be carried forward to next year? Published on:10/06/2025
Go to Tax Deduction at Source on Income details screen. Enter TDS deducted in current financial year. Enter the amount which you want to claim in current year out of TDS deducted in Amount of TDS claimed in current fin. Year column. Remaining amount will be displayed in TDS Credit being carried forward column.
How to claim brought forward TDS in current year? Published on:10/06/2025
Go to Tax Deduction at Source on Income details screen. Enter Financial year in which unclaimed TDS (B/F) deducted. Enter amount of b/f TDS in next column TDS deducted in current year should be zero in this entry. Enter your claim in TDS claimed in current financial year column. This should not be greater that TDS b/f. Enter Gross amount and select Head of Income.
How to enter Foreign Asset Income? Published on:10/06/2025
In Taxbase go to Income Details >> Then click on Other Form Data >> Here click on Foreign Assets option >> Then foreign assets window will open enter details in it.
How to do Agricultural income data entry Published on:10/06/2025
Go to Income Tax >> Income details >> Click on Agricultural Income
How to enter Capital gain from sale of listed shares Published on:10/04/2025
While entering income or loss from Capital Gain from Shares / Units, select name of scrip from the drop down list. (In case your scrip name is not there in the list, you can enter it manually. In that case, fair market value and ISIN should be entered manually.)
Assessee is having more than one Self-occupied House property. How to disclose them in IT return? OR How to show a HP as ‘Deemed let out’, when there are more than two Self-occupied House proper Published on:08/04/2025
Till AY 2019-20, if assessee was having more than one self-occupied House property, only one House property could be considered as ‘Self-occupied’ in IT return. But from AY 2020-21, two self-occupied properties can be disclosed in return. A vacant house property can be shown as self- occupied house property from AY 2020-21 onwards.
How to update refund status Published on:08/04/2025
Go to Online Services >> click on refund status >>Select A.Y. >>it will divert you to Income Tax Website, ID & password will be auto fetch, enter captcha code click on login it will pick up the details and update refund status
Where do I enter details for PreConstruction period interest? Published on:08/04/2025
IIn Income Tax >> Income Details >>House Property >> New >> Open Pre-Construction Period interest >> Enter Total Interest >> Select Year of installment >> & Click on Hide. Step 1: Click on Income Tax >> Income Details >> House Property. Step 2:Click on New button & then enter mandatory fields & click on Pre-Construction Periods interest link. Step 3: In Pre-Construction Period's interest >> enter amount in Total Pre-construction period's Interest & Select Year of instalment.
How to download & see Notices received from Income Tax Department Published on:05/04/2025
Go to Online Services >> click on e-Proceeding >>Select A.Y. >>it will divert you to Income Tax Website, ID & password will be auto fetch, enter captcha code click on login it will pick up the details and update E-Proceeding
Capital Gain summary is showing wrong figures than the data entered in Capital Gain detailed. Published on:01/04/2025
Capital gain Summary shows figures after adjusting current year intra-head losses as well as setting off brought forward losses. Therefore, you need to check whether you have current year or brought forward losses in the head “Capital Gain” and “Losses set off” table.
Error message appears as ‘only one original ITR can be filed u/s 139’ while uploading the return. Published on:24/03/2025
As the original return can be uploaded only once in the IT e-filing website, this message will appear while uploading the Original return for the second time. If you are uploading revised return, please select section 139(5) and ITR as revised in Other form data.
How to calculate surcharge at applicable rates for MMR Tax Method? Published on:19/03/2025
To calculate surcharge at applicable rates for MMR Tax Method user should navigate to:
How to import other Brokers Capital Gain Excel into TaxbasePro Published on:18/03/2025
Go to the Income Details screen as below. Then go to Capital Gain option of Income Details as below
How to show Capital Gain of Agriculture Land which is Exempt? Published on:18/03/2025
Step 1: Go to Income Tax >> Income Details >> Click on Exempt Income Step 2: After click on Exempt income, following window will display. Here click on Income claimed exempt u/s 10/Others/Gift.
How to do E-File of Form 3CEB Published on:18/03/2025
In taxbase >> Go to forms>>form 3CEB >> click on efile >> save it on desktop >> file is created on desktop >> then upload it
How to enter interest on housing loan on rented property? What is maximum amount of interest allowed as deduction? Published on:18/03/2025
There is no limit on deduction of interest on housing loan of rented property. However, net loss of income from house property that can be set off against other heads of income is limited to Rs.2,00,000/-. Excess loss is carried forward upto 8 assessment years. For entering interest on housing loan of rented property, go to House property>>Select property type as “Rented” and enter interest.
Can ITR 1 be filed if one wants to carry forward House Property loss? Published on:18/03/2025
No. In case the assessee wants to carry forward loss in the head “Income from House property”, he needs to file ITR 2.
How to send Advance Tax Reminder? Published on:18/03/2025
Step 1: In Taxbase go to Advance Tax >> Select Advance Tax Reminders Step 2: Then select Print GroupWise / Print AssesseeWise >> Enter Details and enter Message and select Date of Reminders and select Determine Advance Tax Liability based on >> Then select Group / Assessee Step 3: Then at bottom click on Message button and type your message to customer. Step 4: Then click on Mail to send the mail to customer or click on print to print Advance Tax Reminder
How to do data entry of Income under other heads treated separately in Business/Profession? Published on:15/03/2025
In Business/Profession screen, click on details button:
Is Aadhar number of tenant mandatory for filing return? Published on:25/07/2020
No. Aadhar number is not mandatory field.