Income Tax Filling

If you recently made a claim of deduction of donation to a political party and received a notice from the Income Tax Department, don’t worry, you are not alone. Numerous taxpayers unknowingly claim such deductions under an incorrect section and then receive tax demands. Difference Between Section 80G and 80GGC/80GGBLet’s Connect Political donations should always be claimed under 80GGC/80GGB, not 80G Why Did You Get a Tax Notice for 80G Deduction? • Incorrect section claimed – You claimed under 80G rather than 80GGC/80GGB.• Cash donation – Not deductible.• Unregistered political party – Donations will be accepted only when the party is registered under Section 29A ofthe Representation of People Act, 1951.• Mismatch in disclosures – Party’s election returns do not correspond with your claim. How to Deal with Income Tax Notice for Political Donation Deduction Step 1: Identify the Type of Notice 143(1)(a) Intimation – Automated adjustment, disallowance of deduction.143(2)/148 Notice – Scrutiny or reassessment. Step 2: Check Your Donation Evidence Maintain bank transfer receipt / cheque / digital payment document. Verifythe political party is registered under Section 29A. Step 3: If Your Claim is Correct Respond online with proof of donation. Attach party registration information ifpresent. Step 4: If Your Claim is Wrong Accept departmental adjustment. Pay extra tax + interest (under Section 234B &234C) via Challan 280. Amend your response in the e-proceedings section of the Income Tax Portal. Here To help!

If you have a full-time job and make an additional income from Amazon affiliate marketing, you might wonder: Which ITR form to use? How do I report this income? Don’t panic; most salaried individuals these days have a side job, and the Income Tax Department has well-defined guidelines for it. Let’s discuss step by step. Salary + Amazon Affiliate Income – Which ITR Form to Use? Let’s Connect Quick Tip: If your affiliate income is minimal and you’re not interested in maintaining records, opt for ITR-4.If your affiliate income is large and you wish to display actual profit after deducting expenses, use ITR-3. Documents You’ll Need Before submitting, collect these: Step-by-Step Process to File ITR Type in affiliate income:– In ITR-3 → type receipts and expenses– In ITR-4 → type gross receipts; 50% will be considered as profit. Things to Keep in Mind   Final Thoughts If you’re an employed professional earning from Amazon affiliate marketing, you don’t have to file your ITR that hard. Select ITR-4 for a straightforward process under presumptive taxation. Select ITR-3 if you wish to claim business expenses and reflect precise profits. Filing within a timely manner keeps you in compliance, saves you penalties, and makes your financial record clean for the future.   If you’re looking for expert advice on navigating market volatility and making smart investment decisions, feel free to contact us Here To help!