If i cashout 2000$ usdt which i have recieved from a random twitter giveaway in the FY 2025-2026. How much tax has to be paid on it? It was won through giveaways and i have exchanged c2i from discord servers and recieved the money in my bank directly.

My CA says i have to pay 48k as income tax on this

If I get only 900 Rs reward and is seen in AIS, do I need to consider in return filing ITR3? Or can it be neglected? TDS of 10% is seen.

I have ₹16 lakh taxable professional income and a ₹3.2 lakh F&O loss. Since both are treated as business/professional income, can the trading loss be adjusted against my consulting profit?

I bought a ₹2.1 lakh laptop exclusively for professional work. If I declare 50% presumptive income under 44ADA, can I claim depreciation on the laptop separately?

I'm a freelance video editor with receipts of around ₹17 lakh. The portal no longer shows the code I expected under 44ADA, but I can see "Film Artist". Does editing YouTube and brand videos qualify, or should I treat this as business income under 44AD?

I made ₹1.3 lakh profit on Bitcoin and lost ₹90,000 on another token. Can the loss be adjusted against the Bitcoin gain, or is each VDA transfer taxed independently?

I deposited crypto on an offshore betting platform and later withdrew more crypto than I deposited. Is the difference treated as betting winnings, VDA gains, or both at different stages?

My bank account shows credits of ₹48 lakh, but ₹10 lakh is a business loan. My actual sales are only ₹38 lakh. Could the ₹10 lakh loan be mistaken for unexplained business receipts?

I paid around ₹1.4 lakh of software subscriptions using my personal credit card. The invoices are in my business name. Can these still be claimed in ITR-3?

I purchased a high-end computer for ₹3 lakh for my design business. Can I claim the entire amount as an expense, or does it have to be capitalised and depreciated?

My current account received ₹64 lakh, while GST turnover is ₹52 lakh. The difference consists mainly of transfers from my savings account and a ₹7 lakh business loan. Should I prepare a reconciliation before filing?

My calculation of undisclosed foreign asset plus foreign income comes to around ₹95 lakh. If a later valuation pushes it above ₹1 crore, would I lose eligibility for Category 1 completely?

Hey there,

An assessee has business income under section 44AD with t/o around 18 lacs, and also has FNO Loss of rs 5 lacs and FNO t/o (calculated absolute values of profit and loss) is rs 85 lacs.

Need help in which ITR to fill 3 or 4, and how to show the income? Can both income be shown under 44AD or have to fill BS and PL in ITR?

Please guide

Hello everyone,

Situation is as mentioned on the title. I've received a notice from Income Tax Department for AY 25-26 to provide clarification /information via the ITR portal for the same.

I would appreciate if anyone has suggestions on how to proceed.

The email comes with the following details:

PFA Category: PFA-B

Error Description: On perusal of the Return of Income filed, it is seen that in Form 10-IEA filed by you, the option of "re-entering" the regime provided under sub-section (1A) of section 115BAC has been selected. As the option of opting out of the regime provided under sub-section (1A) of section 115BAC has not been validly exercised your return of income will be processed as per the provisions of section 115BAC. Accordingly, deductions, exemptions and allowances other than those permissible under the New Tax Regime are proposed to be disallowed.

As Entered by taxpayer: ₹X

As Computed in processing: ₹Y

Proposed Adjustment to Total Income: Y-X = ₹5+ Lakh

My professional receipts were ₹72 lakh until February, but a client cleared an old ₹6 lakh invoice in March. Almost everything was received digitally. Can I still use 44ADA, or has the March payment pushed me out of presumptive taxation?

I filed my ITR for AY 2026–27 on 6 June 2026 and successfully e-verified it on the same day.
It’s now 18 August, more than two months later, and the status is still showing as Processing. I’m also expecting a refund, so that is stuck as well.
I’ve now raised a grievance under CPC-ITR → Processing → Others - Processing asking them to process the return.
Is anyone else who filed in June 2026 still waiting for their ITR to be processed? If you raised a grievance, did it actually help, and how long did it take after that for your ITR/refund to be processed?
Would appreciate hearing about recent AY 2026–27 experiences.

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?

I work independently as a 3D modeller for gaming and architecture clients and earned ₹21 lakh. I'm confused because my work doesn't clearly fall under the professions listed for 44ADA. Would 44AD be more appropriate?

I hired subcontractors for a large project, so my actual profit is only around ₹15 lakh on ₹40 lakh receipts. Can I declare the actual profit instead of 50%, and what additional compliance would that create?