u/Several-Map1535

Advance From Client Is Sitting in My Bank Account

I received ₹8 lakh in March for a project starting in April. If I follow mercantile accounting, should this be treated as income immediately or shown as an advance from customer?

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u/Several-Map1535 — 2 days ago

I Changed From Cash Basis to Mercantile This Year

Until last year I reported income based on receipts. This year I've started maintaining books using the mercantile system. Do I need to disclose the accounting method change anywhere?

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u/Several-Map1535 — 2 days ago

Business Receipts Came Through My Savings Account

I never opened a current account and received all consulting fees in a personal savings account. Could this become an issue if my return is selected for scrutiny?

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u/Several-Map1535 — 3 days ago

Can I Claim Internet and Mobile Expenses Separately Under 44ADA?

Even though I'm filing under presumptive taxation, can I separately disclose internet and mobile expenses for record purposes, or should they be ignored completely?

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u/Several-Map1535 — 3 days ago

Received Payment in My Wife's Bank Account by Mistake

One overseas client accidentally transferred ₹3.4 lakh to my wife's account instead of mine. The invoice was raised in my name. How should I report this in my return?

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u/Several-Map1535 — 7 days ago

I Received ₹9 Lakh Security Deposit From a Client

One corporate client transferred a refundable security deposit before starting a long-term consulting engagement. Since it appears in my bank statement, should it be included in gross receipts?

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u/Several-Map1535 — 7 days ago

Can I Carry Forward F&O Loss if I File Late?

I incurred around ₹3.4 lakh F&O loss this year. If I miss the due date for ITR-3, will I lose the ability to carry forward this loss?

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u/Several-Map1535 — 8 days ago

My Client Paid in EUR Instead of USD

One overseas client settled invoices in Euros while others paid in USD. Which exchange rate should be used while calculating professional receipts?

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u/Several-Map1535 — 9 days ago

One Client Deducted TDS but Never Paid Me

A client deducted TDS on my ₹2.6 lakh invoice, but the payment is still pending because of a dispute. Form 26AS reflects the TDS. Should I report the income this year?

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u/Several-Map1535 — 9 days ago

Utility Is Asking for Opening Balance Sheet Figures

This is my first time filing ITR-3 after switching from ITR-4 last year. Where should the opening capital and asset balances come from if I never prepared a balance sheet before?

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u/Several-Map1535 — 10 days ago

My Receipts Include Platform Incentives

Apart from consulting fees, I received ₹1.9 lakh as platform incentives and referral bonuses. Should these also be included in gross professional receipts?

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u/Several-Map1535 — 14 days ago

One Client Hasn't Deposited My TDS Yet

Around ₹68,000 TDS was deducted on one invoice, but it's still missing from Form 26AS. Should I wait before filing or proceed with the available information?

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u/Several-Map1535 — 15 days ago

Where Do I Report PPF Interest in ITR-2?

I received ₹74,000 as PPF interest on 31 March 2026. It is fully exempt, but should I still disclose it under Schedule EI while filing ITR-2?

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u/Several-Map1535 — 20 days ago

Rights Entitlement Sold Instead of Exercised

I sold rights entitlements credited to my demat account. Is the entire sale value treated as capital gains because there was no purchase cost?

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u/Several-Map1535 — 22 days ago

Joint Property Sold With Unequal Ownership

My spouse and I sold a jointly owned property, but our ownership shares are 70:30. AIS shows half the sale value under each PAN. How should we report the actual split?

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u/Several-Map1535 — 24 days ago

Joint FD Interest Reported Entirely Under My PAN

My wife and I jointly hold an FD funded equally by both of us, but the entire interest appears in my AIS. Can we split the income between our returns?

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u/Several-Map1535 — 27 days ago

Inherited Property Has No Purchase Records

I sold a house inherited from my grandfather, but we do not have the original purchase deed or cost. How should the acquisition cost be determined?

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u/Several-Map1535 — 27 days ago

Freelancer Used Personal Bank Accounts

I received business payments across three personal savings accounts. Do all the accounts need to be disclosed, and will this affect my 44ADA claim?

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u/Several-Map1535 — 28 days ago

ETF Sale and Securities Transaction Tax

My broker report classifies one ETF gain differently because STT was not charged. How do I determine the correct capital-gains section?

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u/Several-Map1535 — 29 days ago

Donation Appears in Form 10BE but Not AIS

The charity issued Form 10BE correctly, but the donation does not appear in AIS. Is Form 10BE sufficient to claim Section 80G?

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u/Several-Map1535 — 1 month ago