Devendra Maurya

Student at Shri Ram College of Commerce, Delhi. Originally from Lucknow, Uttar Pradesh. Pursuing CA course. Photographer | Designer | Poet

[Devendra Maurya @devendra_here]

@SwiggyInstamart my issue is not getting resolved.
Ordered Portronics Mport USB hub,
One port is not working.
The team has put my issue on hold please resolve this is very unacceptable as it should not have happened with basic quality checks.

[Sujit Bangar @sujit_bangar]

Rajnish booked F&O loss and filed his ITR

He was asked to pay a penalty of ₹1,50,000

Read this to know about when tax audit is applicable to F&O traders🧵👇

[Sujit Bangar @sujit_bangar]

Narendra sold a car but had to pay tax on ₹20,80,000.

Bombay High Court confirms it

How does tax apply? How you can save it. Let’s break it down🧵👇

[TaxBuddy @TaxBuddy1]

Filled ITR using wrong form and got a notice to pay 60% 🤯

Be careful while selecting ITR form,

Wrong ITR Form → punitive demand. 🧵

[Sujit Bangar @sujit_bangar]

Miss one disclosure in your ITR

Your return might get defective

For non-disclosure of foreign assets, ₹10 lakhs penalty may be applicable

Here are 8 key disclosures you MUST not miss🧵👇

[Sujit Bangar @sujit_bangar]

Sheela bought a new house but still lost her Section 54 exemption

Why? Builder delayed the construction.

The Department taxed her entire LTCG of ₹99.4 lakhs

But here’s how she got partial relief 🧵👇

[TaxBuddy @TaxBuddy1]

Seema got a tax notice of ₹2.58 Cr 🤯

Why? She claimed section 54 exemption instead of 54F

Here's how her tax advisor helped her reduce her tax liability to ₹0🧵

[Sujit Bangar @sujit_bangar]

Ravi, our client, was about to pay ₹66,000 extra in taxes on his F&O trading profits

However, we helped him understand allowable expenses including depreciation of his laptop

Here’s how smart planning can help you as a trader 🧵👇

[Sujit Bangar @sujit_bangar]

Santosh’s tax consultant filed fake deductions in his ITR form

Income-tax levied a penalty of ₹1,15,938 on him. But ITAT Pune reversed that order.

A reminder that not all tax errors are intentional and poor advice can cost you dearly. Here's why 🧵👇

[TaxBuddy @TaxBuddy1]

Myth: "New tax regime is the best for me."

Reality: There are 8 uncommon deductions that can help you save ₹1,00,000+ in taxes🤯

Don't skip reading this before filing ITR this year🧵👇

[Sujit Bangar @sujit_bangar]

In FY23, 60 lakh taxpayers claimed losses worth ₹77,808.7 Crores under house property head

However, with 95%-97% of taxpayers are now going to shift to the new tax regime,

This benefit is going to go away

Here's all about house property taxation in the new regime🧵👇

[TaxBuddy @TaxBuddy1]

Filing your ITR this year?

One mistake can cost you a notice, a 50% penalty and 12% interest.

Here are top 10 ITR filing mistakes to avoid when filing your ITR yourself 🧵👇

[Bookmark it and repost to spread awareness]

[Sujit Bangar @sujit_bangar]

Ramesh received ESOPs from his startup.

But when it came to taxes and ITR reporting and taxes - he was lost.

Indian startup employees made ₹1,252 crores in 2024 from ESOP buybacks

Here’s a simplified guide to understanding ESOP taxation and ITR reporting 🧵👇

[TaxBuddy @TaxBuddy1]

Income-tax is raiding individuals for deduction claims

They're cracking down on fake HRA, donation deductions, etc. using AI

Over 40,000 taxpayers reversed fake deduction claims worth ₹1,045 crores🤯

Claimed fake deductions? Here's what income tax did and can do to you🧵👇

[TaxBuddy @TaxBuddy1]

Soham was paying rent for one flat and paying EMIs for another

While filing his declaration, he claimed HRA as well as interest on home loan deduction

His employer denied and deducted TDS worth ₹1,03,745 more🤯

But here's how we got him a 100% refund🧵👇

[Sujit Bangar @sujit_bangar]

Thought ULIPs gave tax-free returns?

They come with higher expenses as well.

Moreover, if you're investing ₹2.5L+ per year, you're not escaping tax anymore.

Let’s decode the new rules around ULIP taxation 🧵👇

[TaxBuddy @TaxBuddy1]

Rahul, an NRI got a tax shock of ₹59,904.

He assumed, “My net income after deduction is within ₹12 lakhs. Hence, no tax.”

There are more than 4.5 crore NRIs & OCIs.

Read this to avoid any tax shock as an NRI 🧵👇

[TaxBuddy @TaxBuddy1]

Abhishek, a salaried person, was asked to pay a penalty of ₹1,00,000 by income tax🤯

His mistake? 🤔 He paid ₹55,000/month in rent but didn’t deduct TDS🔻

Even salaried people need to deduct TDS at times. All about such provisions 🧵👇

[Sujit Bangar @sujit_bangar]

Rahul, a full-time investor, made a profit of ₹7 lakhs from sale of shares.

He assumed: “My income is within ₹12 lakhs. Hence, no tax.”

He got a tax shock of ₹74,375. Read this to avoid any tax shocks🧵👇

[TaxBuddy @TaxBuddy1]

Startups chase VC money ignoring free capital in form of Govt Grants

₹22,942 Cr has already been invested in startups under FFS scheme🤯

Many schemes like this don't even dilute your equity

Before starting up, know about such schemes & tax benefits to a startup🧵👇