CA Malaya Ranjan Pradhan

CHARTERED ACCOUNTANT.

[CA Malaya Ranjan Pradhan @windymrp]

CA Malaya Ranjan Pradhan
#caresults #caresult

[Sujit Bangar @sujit_bangar]

Byju's deducted ₹1.49 crore TDS from Ajay's salary.

But never deposited it with the Tax Dept. It happened with 23,621 employees.

Tax Dept sent Ajay a demand notice. But ITAT saved him.

Here's how to file your ITR if the same is happening with you 🧵👇

[Rupeetool @RupeetoolByFGM]

Your bank account in India can be frozen because a stranger sent you ₹1.

Yes, ₹1.

This is happening to thousands of innocent Indians right now.

Here is what is going on, and how to fight it 🧵👇

[CA Malaya Ranjan Pradhan @windymrp]

@Gaurav_7887 List

[ET Money @ETMONEY]

Jio Payments Bank is giving its accountholders a facility to earn up to 6.5% “returns”.

But there’s a catch.

It’s not the “interest” you earn on the savings A/C.

Then what is it? Let's decode.

We will also discuss FOUR alternatives that can help you earn similar returns. A🧵

[CA Himank Singla @CAHimankSingla]

🚨 Important Issue for Tax Professionals

In the latest ITR utility, new business code 16021 – “Social Media Influencer” has been introduced under the ‘Profession’ category.
However, there’s a fundamental legal inconsistency that must not be ignored:

➡️ Section 44AA(1) r.w. Rule 6F of the Income-tax Rules prescribes what constitutes a 'specified profession' — such as legal, medical, engineering, architecture, accountancy, etc.
Nowhere is influencing, content creation, or digital brand promotion included in that list. 🤷🏻‍♂️

So the question arises:
On what basis is this income treated as “profession” in the utility?

Does Section 44ADA presumptive taxation apply?
Does the ₹50 lakh threshold under 44AB (for profession) apply?
Or should this income be treated as business income under 44AD, as was the earlier practice? (Yes in my opinion)

Forcing this via utility logic amounts to letting form override the law, something the CBDT must actively avoid.

💡 Urgent clarification is required from CBDT so that thousands of digital creators, influencers, and their tax advisors are not left grappling with undefined tax positions and potential penal consequences.

🔁 Sharing this for the awareness of the tax fraternity.

[CA Jaydipsinh Chauhan🇮🇳 @CAJaydipsinh]

📢 Know This Before Filing ITR: FORM 10-IEA Explained
From A.Y. 2024-25, the New Tax Regime is default for individuals & HUFs.
To continue with the Old Regime ( Business Income), Form 10-IEA must be filed on time—else you lose the option!
👇
@ThetaVegaCap
@Rajat__CA
@afzal_57

[CA Jaydipsinh Chauhan🇮🇳 @CAJaydipsinh]

🚀 Beyond Balance Sheets: Sky-High Careers for Practising CAs 🌟
Being a CA isn’t just about audits & tax!
💥 From boardrooms to cyber audits to ₹crore valuations — the world is your playground!
Let’s explore 8 elite career paths for 🔥 ambitious CAs 👇
@mehulshahca

[CA Vivek Khatri @CaVivekkhatri]

🚨BREAKING: RBI just SLASHED repo rate by 50 bps to 5.5%

Biggest rate cut in YEARS.
Your EMIs, stocks, and economy are about to SHIFT.

Here’s what it means for:
📈 Stock Market
🏠 Real Estate
🏦 Banks
🚗 Autos
🛒 FMCG
💻 IT & more

🧵👇 Let’s break it down:

[CA Akhil Pachori @akhilpachori]

7 Additional Information and Details required in ITR-1 and ITR-4 for A.Y. 2025–26 especially for Taxpayers in Old Regime

1. Enhanced Disclosure for House Rent Allowance (HRA)

Taxpayers claiming HRA exemption must now provide comprehensive details, including:
•Place of Work
•Actual HRA Received
•Actual Rent Paid
•Basic Salary and Dearness Allowance
•50% or 40% of Basic Salary, depending on whether the city is metro or non-metro

This change ensures precise calculation of HRA exemption under Section 10(13A).

2. Section 80C Deduction: Additional Documentation Required

To claim deductions under Section 80C, such as PPF contributions and insurance premiums, the following information must be disclosed:
•Document or Receipt Number
•PPF Account Number
•Insurance Policy Number

3. Section 80D: Health Insurance Details

Taxpayers claiming deductions under Section 80D for medical/health insurance must now provide:
•Name of the Insurance Company
•Policy or Document Number

4. Section 80E: Education Loan Interest

For deductions on interest paid on education loans under Section 80E, the following details are now mandatory:
•Name of the Lender
•Bank Name
•Loan Account Number
•Date of Loan Sanction
•Total Loan Amount
•Loan Outstanding as on 31st March

5. Section 80EE / 80EEA: Interest on Home Loan

Similar disclosures are required for interest deductions under Section 80EE or 80EEA for residential house property:
•Name of the Lender
•Bank Name
•Loan Account Number
•Date of Loan Sanction
•Total Loan Amount
•Loan Outstanding as on 31st March

6. Section 80EEB: Electric Vehicle Loan Interest

For interest paid on loans taken for the purchase of electric vehicles under Section 80EEB, taxpayers must provide:
•Name of the Lender
•Bank Name
•Loan Account Number
•Date of Loan Sanction
•Total Loan Amount
•Loan Outstanding as on 31st March

7. Section 80DDB: Treatment of Specified Diseases

Taxpayers claiming deductions under Section 80DDB for medical treatment of specified diseases are now required to mention the:

•Name of the Specified Disease

#incometaxreturn

[Pratibha Gupta @PratibhaGoyal]

Reporting F&O income in ITR

F&O is considered as income from ‘profits and gains from business or profession (PGBP). Thus Applicable form is ITR-3

👇🧵

[CA Himank Singla @CAHimankSingla]

Claiming Deductions from Salaries ?

Here are all the major changes in ITR-1 and ITR-4 for AY 2025-26 (Old Regime) related to ITR Deductions, summarized in on place:

1.HRA (House Rent Allowance) – Must report Place of Work, Basic Salary, Actual HRA received, Rent paid.
2.Section 80C – Mandatory to mention Policy Number or Document Identification Number for eligible investments.
3.Section 80D – Must provide Name of Insurance Company and Policy Number for health insurance premiums.
4.Section 80E – Need to report Bank Name, Loan A/C Number, Sanction Date, Loan Amount, Outstanding Balance for education loan.
5.Section 80EE – Same disclosure as 80E for loan on residential house property.
6.Section 80EEA – Similar details required for loan on certain house property.
7.Section 80EEB – Must disclose Bank Name, Loan Details and Vehicle Registration Number for EV loans.
8.Section 80DDB – Must specify the Name of Specified Disease for medical treatment deduction.

Like & RT for others to get benefit too!

[CA Garima Bajpai @garimabajpai]

🚨UPS vs NPS

By June 2025, central govt employees must choose between:
🔹Unified Pension Scheme (UPS)
🔹National Pension System (NPS)

This choice is final. Let���s break down the key differences so you can make an informed choice. 🧵

[CA Garima Bajpai @garimabajpai]

Dear Taxpayers,

The Revised ITR Forms 1-7 have been enabled on the Income Tax portal. However, the department has not yet enabled the ITR e-filing utilities.

TDS details and Form 26AS have not been updated yet, and employers have not provided Form 16.

Consequently, the actual filing process will commence from late May to early June.

In the meantime, we encourage you to collate the necessary documents and information required for the filing process:

1. Salary Income:
- Form 16 (Part A & B) from your employer(s).
- Salary Slips

2. Interest Certificates:
- For Savings/Fixed Deposits/Recurring Deposits, etc.

3. Capital Gains:
- Profit & Loss (P&L) Statement from Broker
- Details of the sale of other Capital Assets (property, gold, etc.)
- Make sure there is separate LTCG reporting before and after July 23, 2024, due to new rules on indexation and tax rates.

4. House Property Income:
- Basic property details
- Rent receipts
- Details of municipal taxes paid
- Home loan interest certificate, if applicable

5. Business/Professional Income:
- Bank Statements
- Copies of invoices issued and bills received
- Records of purchases and sales made
- TDS Certificates
- Any Other Supporting Documents

6. Agriculture Income Proofs, if applicable

7. Investment Proofs:
- Life Insurance premium receipts
- ELSS statements
- Details of Provident Fund/Public Provident Fund contributions
- Details of National Pension Scheme contributions
- Health Insurance Premium Receipts
- Details of Education Loan Repayment
- Details of Housing Loan Repayment
- Details of Tuition fee paid
- Details of Donations
- Details of any other income

8. PAN, Aadhar, and Bank details(for new clients)

Should you have any queries or require assistance in collating the documents, please do not hesitate to reach out. We are here to support you through the process.

[Sujit Bangar @sujit_bangar]

India has 19.4 Cr demat accounts.

But only one betting app has 20 Cr users.

Gaming is not just a zero-sum game but the heavy taxation kills almost all your probability of winning.

Here's all about taxation of online gaming winnings🧵👇

[CA Jaydipsinh Chauhan🇮🇳 @CAJaydipsinh]

1/10
Hey CAs!
Did you know ICAI offers amazing benefits just for YOU?
From health to loans, insurance to software — here's a thread that’ll blow your mind!
Let’s go! 🚀📚💼
For pdf wa on 9737025205
@CAHimankSingla @TaxationUpdates @BimalGST @theicai @mehulshahca @JaydeepPatel28

[CA Garima Bajpai @garimabajpai]

🚨CBDT has notified New ITR-1 & ITR-4 forms with big changes:

🔹 ITR-1 now allows LTCG under Sec 112A (up to ₹1.25 lakh)
🔹 Expanded eligibility for small businesses & professionals
🔹 Mandatory Form 10-IEA for old regime

Here’s a breakdown of what’s changed🧵👇

[Sujit Bangar @sujit_bangar]

A client at TaxBuddy sold two of his properties in Nashik and had ₹1.2 crores of capital gains.

He wanted to move and buy a house in Mumbai.

We reduced his tax liability to ZERO. Here's how🧵👇

[Aditya Shah @AdityaD_Shah]

🚨ICICI Bank-The new market leader!

ICICI Bank reported a superb set of numbers!
Led by pristine asset quality,
The results were blockbuster

ICICI Bank has now taken over from HDFC Bank as the true market leader

A comprehensive thread🧵 analyzing the results of ICICI Bank 👇

[Nikhil Jha @NIKHILLJHA]

🚨Super Top-up in health insurance-Increases ur cover in an effective way?

For 30 year old:-
ICICI Lombard Elevate 1cr cover
(10L base+90L super top up)
Premium= Rs 12,000

What is this super top-up?🤔🤔

A thread🧵on what is a super top-up plan,its benefits & limitations?👇

[TaxBuddy @TaxBuddy1]

Shanti Bhushan, ex-law minister, underwent heart surgery

He claimed the surgery expense as a business expense🤯

He argued: My heart is my professional tool. Heart attack was caused by his stressful work.

Can you do this? Here's what courts & Tax Dept decided 🧵👇