Bhavik Chudasama & Co

Which ITR Form Should You File? 📄🤔

Confused between ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-7? You’re not alone!

In this video, I’ve explained which ITR form applies to which type of income in a simple and practical way so you can avoid filing the wrong return.

✅ Salary Income
✅ House Property Income
✅ Capital Gains
✅ Business & Professional Income
✅ Presumptive Taxation (44AD/44ADA/44AE)
✅ Partnership Firms, Companies & Trusts

⚠️ Filing the wrong ITR form can lead to your return being treated as defective or even invalid. Make sure you choose the correct one.

💬 Comment “ITR” if you have any questions or need help selecting the right ITR form.

📌 Save this post for future reference and share it with someone who is filing their Income Tax Return this year.

Do jobs, ek tax shock — aur zyada logo ko pata hi nahi ye Section 192(2) wala rule.

Agar aap bhi 2 companies se salary le rahe ho, ye reel dekhna zaroori hai. Dono employer apna TDS “sahi” calculate karte hain — lekin jab return file hoti hai, dono salary jud jaati hai aur jo TDS zero tha, wahi ek bada tax bill ban jaata hai apki return mein.

Solution simple hai — Form 12B apne current employer ko time pe do, taaki TDS shuru se hi sahi cut ho.

12 lakh tak tax-free hai” — kya aap bhi yeh sochte ho? 🚨

Sach kuch aur hai. Agar aapne stocks ya mutual funds se capital gain kamaya hai, toh 87A rebate aap par apply nahi hota — chahe total income 12 lakh se kam hi kyun na ho.

Aur agar aap HUF ho ya NRI ho, toh yeh ₹12 lakh wala benefit shuru se hi apply nahi hota.

Swipe/watch karo poora breakdown 👆

Tax planning karte waqt yeh galti mat karo. Apna CA se confirm karo before filing.



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💸 IT Refund Credit Alert! 💸

What the Income Tax Department thinks:

“We’ve issued the refund. The taxpayer will be happy.” 😌

What the client actually does:

“Refund aa gaya! Shopping list nikalo!” 🛍️💸😂

Every CA knows the excitement on refund day! 😅

👉 Tag that friend who starts planning expenses the moment the refund is credited!
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Ek company ne apna tax bhi pay kar diya... phir bhi department ne Section 74 ka notice thama diya. Fraud ka case? Ya kuch aur chal raha hai?

Yeh judgment padhne ke baad aapke clients ko bhi yeh case zaroor sunana padega.
Case: Madras High Court, W.P. No. 26246 of 2024

Company ne GST short pay kiya tha — 5% ki jagah 18%. Department ne pakda, DRC-01A bheja. Company ne kya kiya? Bhaaga nahi — voluntarily poora differential tax pay kar diya, DRC-03 ke through.

Phir bhi 2024 mein aaya Section 74 ka Show Cause Notice — fraud/suppression wala provision. Sath mein ₹72.25 lakh ka interest demand.

Company ka argument tha — “maine khud pay kiya, fraud kaise?”

Madras High Court ne clear kiya:
→ Voluntary payment ke baad bhi Section 74 maintainable hai

→ GST mein Section 74 ka threshold, purane laws se lower hai

→ Interest under Section 50 automatic hai — chahe voluntarily pay karo ya na karo

Lesson simple hai — sirf tax pay karna kaafi nahi. Interest aur suppression dono ka dhyan rakhna padega, warna 72 lakh jaisa bill kabhi bhi aa sakta hai.

Aapke kisi client ke saath bhi aisa hua hai? Comment karo “74” — main aapko poora judgment DM mein bhej dunga.

Save kar lo yeh post — kaam aayega jab bhi koi client bole “maine toh pay kar diya tha!”

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⚖️ 𝗠𝗮𝗱𝗿𝗮𝘀 𝗛𝗶𝗴𝗵 𝗖𝗼𝘂𝗿𝘁: 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗗𝗥𝗖-𝟬𝟯 𝗗𝗼𝗲𝘀 𝗡𝗼𝘁 𝗪𝗮𝗶𝘃𝗲 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝘂𝗻𝗱𝗲𝗿 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟱𝟬

Many taxpayers believe that once the differential GST is paid through Form GST DRC-03, the matter is completely settled.

The Madras High Court has clarified that this is NOT the legal position.

📌 𝗕𝗮𝗰𝗸𝗴𝗿𝗼𝘂𝗻𝗱
• The taxpayer paid GST @ 5% instead of the applicable 18% for FY 2017-18, resulting in a short payment.
• The Department issued Form GST DRC-01A on 28.07.2020 pointing out the short payment.
• The taxpayer voluntarily paid the differential GST through DRC-03 between November 2020 and January 2022.
• Despite this, the Department issued a Show Cause Notice under Section 74 demanding interest of ₹72.25 lakh.

⚖️ 𝗪𝗵𝗮𝘁 𝗱𝗶𝗱 𝘁𝗵𝗲 𝗖𝗼𝘂𝗿𝘁 𝗵𝗼𝗹𝗱?

✅ Interest under Section 50 is automatic and arises on delayed payment of GST.
✅ Payment through DRC-03 settles only the tax liability, not the statutory interest.
✅ Section 75(12) read with Section 79 empowers the Department to recover unpaid interest independently.
✅ Section 74 proceedings remain maintainable even if the taxpayer subsequently pays the differential tax.
However, considering the facts of the case, the matter was remanded to the adjudicating authority for passing a fresh order.

💡 𝗣𝗿𝗮𝗰𝘁𝗶𝗰𝗮𝗹 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆:

Whenever you pay differential GST through DRC-03, don’t forget to discharge the applicable interest under Section 50 as well.

Paying only the tax may still lead to recovery proceedings for unpaid interest.

📚 𝗖𝗮𝘀𝗲 𝗖𝗶𝘁𝗮𝘁𝗶𝗼𝗻:

TVL. Noyyal Common Effluent Treatment Company Limited
v. Assistant Commissioner (ST), Tirupur Central-I Circle, Tirupur-II
W.P. No. 26246 of 2024

Madras High Court | Judgment dated: 08.06.2026

💬 𝗗𝗼 𝘆𝗼𝘂 𝗮𝗴𝗿𝗲𝗲 𝘄𝗶𝘁𝗵 �

Section 54/54F ka deduction claim kiya hai under-construction property mein invest karke? 🏗️

Aur ab tension ho rahi hai ki builder ne possession delay kar di toh Income Tax wale exemption deny kar denge? 😰

Ek real case mein exactly yahi hua tha — 2.5 CRORE ka deduction disallow kar diya gaya sirf isliye kyunki possession nahi mila tha aur agreement registered nahi tha.
Lekin final ruling ne poori situation palat di. 👇

Kya aapka deduction safe hai ya nahi — yeh video dekho poori clarity ke liye.

Judgment ka naam pata karna hai? Comment karo “54” 👇 DM aayega personally.

📌 Save this if you’ve invested in under-construction property

📌 Share with anyone jo builder delay se pareeshan hai

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When claiming your refund feels harder than paying the tax. 😭👇 Tell us your experience.

POV: When the CA enters the office for Audit... 👀📋
Junior Accountant 😰 | Senior Accountant 😅 | Accounts Head 😎

When AIS, Form 26AS & the client’s documents reconcile perfectly... every CA knows this feeling! 🤩📑✅

It’s one of those rare moments during ITR season that deserves a celebration. 😅

Can you relate?
👇 Tell us the rarest “CA happiness” you’ve experienced during tax season!