Return-level checks
1 to review7 clear
Identity
PAN valid & operativeAAAPM1234Q — active, not inoperative
PAN–Aadhaar linkedAadhaar 4321 8765 0987 — linkage confirmed
Residential status setROR — matches return
Refund account pre-validatedHDFC 50100247716620 — validated, PAN-linked
Filing & regime
Correct ITR formITR-2 admits salary + house property
Regime captured & consistentOld regime — matches return flag
Filed within due dateVerify upload date — 234F may apply if belated
Form 10-IEA opt-outNot applicable — no business income
Income Heads
Salary Income
1 action needed1 to review
Salary income summary
Total gross salary
₹15,20,000
Deductions u/s 16
₹75,000
Net income from salaries
₹14,45,000
Total TDS (return)
₹1,62,000
Employers
Nimbus Software Pvt Ltd
TAN BLRN12345K (per return) · OTH: Private
| Field | ITR | Form 16 | AIS / 26AS | Verdict |
|---|---|---|---|---|
| Gross salary u/s 17(1) | ₹15,20,000 | ₹17,90,000 | ₹17,90,000 | |
| Exempt allowances u/s 10 | ₹0 | ₹0 | ₹0 | |
| Perquisites u/s 17(2) | ₹0 | ₹0 | — | |
| Std deduction u/s 16(ia) | ₹75,000 | ₹75,000 | — | |
| TDS u/s 192 | ₹1,62,000 | ₹1,98,000 | ₹1,98,000 |
Findings — 1
-
High gross salary is reported as ₹15,20,000 but Form 16 and AIS certify ₹17,90,000 — income understated by ₹2,70,000. Determined
House Property
1 action needed1 to review
House property income summary
Properties
1
Net annual value
₹0
Interest u/s 24(b)
₹2,40,000
Income from HP
−₹2,00,000
Properties
Maple Residence, Sector 9
Self-occupied (per return) · ICICI home loan
Use (return)Self-occupied
Annual value₹0
Municipal taxes claimed₹28,000
Std deduction 30%₹0
Interest u/s 24(b) claimed₹2,40,000
Income−₹2,00,000
Findings — 2
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High municipal taxes of ₹28,000 are claimed, but a self-occupied property has nil annual value and municipal taxes are deductible only from let-out annual value — the claim is inadmissible. DeterminedAuthority: Proviso to S.23(1)Remove the municipal-tax deduction, or reclassify the property if actually let out.
-
Medium interest u/s 24(b) of ₹2,40,000 exceeds the ₹2,00,000 self-occupied ceiling — ₹40,000 disallowed. Determined
Capital Gains
1 action needed1 to review1 opportunity
Capital gains summary
Short-term CG
₹1,10,000
Long-term CG
₹23,55,000
Exemptions claimed
₹13,25,000
Net taxable CG
₹12,35,000
Computation by rate class · reconciled ITR vs broker / CG statement vs AIS
| Rate class | ITR | Broker / CG stmt | AIS | Verdict |
|---|---|---|---|---|
| Long-term | ||||
| Listed equity & equity MFS.112A · net of ₹1.25L exemption | ₹85,000 | ₹85,000 | ₹85,000 | |
| Immovable propertyS.112 · indexation option open | ₹21,40,000 | — | ₹21,40,000 | |
| Unlisted sharesS.112 · 50CA FMV ok | ₹0 | ₹0 | — | |
| Short-term | ||||
| Listed equityS.111A · special rate | ₹1,10,000 | ₹1,10,000 | ₹1,46,000 | |
| Specified debt fundsS.50AA · slab, no LTCG treatment | ₹95,000 | ₹95,000 | ₹95,000 | |
| Exemptions | ||||
| S.54 reinvestment — residential houseProperty gain reinvested within window | −₹13,25,000 | — | — | |
| Net taxable capital gains | ₹12,35,000 | |||
Findings — 4
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High AIS reports ₹1,46,000 of S.111A short-term gain but only ₹1,10,000 is offered in the return — ₹36,000 of listed-equity STCG appears unreported. DeterminedAuthority: S.45 r/w S.111AReconcile the broker statement and offer the full ₹1,46,000 STCG.AIS — securities
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High short-term gain of ₹1,10,000 on listed equity (Reliance, 90 sh, STT-paid) is taxed at slab rate, but S.111A mandates the 20% special rate for transfers on/after 23-Jul-2024. Determined
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Optimization the Kompally plot (acquired 2016) is computed at 12.5% flat (tax ₹2,67,500); the 20%-with-indexation option for pre-23-Jul-2024 property gives tax ₹1,96,400 — approximately ₹71,100 saved. AI · verifyAuthority: S.112 provisoCompute both ways and elect 20% with indexation if lower.Sale deed — Kompally
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Medium ₹95,000 across 3 specified debt-fund lots (acquired on/after 01-Apr-2023) is offered as LTCG at 12.5%, but S.50AA taxes these at slab regardless of holding period. Determined
Business & Profession
1 to review5 clear
Business income summary
Businesses
2
Total turnover / receipts
₹13,26,320
Income chargeable u/h BP
₹7,40,980
Basis
Presumptive
Tax audit (44AB) — assessed on aggregate
Tax audit u/s 44AB not triggered
Not required
Business turnover (44AD) vs ₹1cr threshold₹5,18,800 / ₹1,00,00,000Within
Professional receipts (44ADA) vs ₹50L threshold₹8,07,520 / ₹50,00,000Within
Presumptive declared at/above minimum (both businesses)no sub-minimum declarationWithin
Assessed on the aggregate across both businesses. Each presumptive limit is tested at its own statutory threshold; neither business turnover nor professional receipts crosses the audit line, and no business declares below the presumptive minimum — so no 44AB audit obligation arises and Form 3CB-3CD is not required.
Businesses
Greenfield Traderscode 21008 · trading
Presumptive 44AD
Gross turnover · bank ₹1,73,000 + cash ₹3,45,800₹5,18,800
Turnover vs cap · cash 66.7% → ₹2cr capwithin
Declared profit · 65.0% (min 6%/8%)above minimum
Presumptive income₹3,37,220
Orchid Advisory Servicescode 16020 · profession
Presumptive 44ADA
Gross receipts · all banked₹8,07,520
Receipts vs cap · cash 0% → ₹75L capwithin
Declared profit · exactly 50.0% (min 50%)at floor
Presumptive income₹4,03,760
Findings — 1
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Medium the 44AD presumptive components do not reconcile to the declared turnover split — the 6% and 8% figures (₹1,12,450 and ₹2,24,770) imply a turnover of ₹18.7L / ₹28.1L, far above the ₹5,18,800 declared. The presumptive computation appears internally inconsistent. DeterminedAuthority: S.44ADRecompute presumptive income on the actual ₹5,18,800 turnover split.
Other Sources
1 action needed2 clear
Other sources summary
Normal-rate income
₹73,500
Special-rate income
₹0
Deductions u/s 57
₹0
Net income from OS
₹73,500
Normal-rate income · reconciled to AIS / 26AS
| Line | Return | AIS / 26AS | Verdict |
|---|---|---|---|
| Interest income₹51,500 | |||
| Savings bank interest80TTA base | ₹9,200 | ₹9,200 | |
| Term deposit interest194A | ₹42,300 | ₹65,800 | short ₹23,500 |
| Interest from refund244A | ₹0 | ₹0 | |
| Dividend₹22,000 | |||
| Dividend194 · taxable at slab since AY 2021-22 | ₹22,000 | ₹22,000 | |
| Total income from other sources | ₹73,500 | ||
Findings — 1
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High term-deposit interest of ₹42,300 is reported, but AIS reflects ₹65,800 of 194A interest — ₹23,500 appears under-reported. Determined
Computation
Deductions & Exemptions
1 action needed3 clear
Chapter VI-A
Old regime — Chapter VI-A deductions are admissible. The new-regime bar (S.115BAC) does not apply; each claimed section is checked against its statutory cap below.
| Section | Claimed | Cap | Allowable | Verdict |
|---|---|---|---|---|
| 80C aggregate80C + 80CCC + 80CCD(1) | ₹1,68,000 | ₹1,50,000 | ₹1,50,000 | |
| 80C — LIC, PPF, ELSS, principal | ₹1,38,000 | |||
| 80CCC — pension fund | ₹0 | |||
| 80CCD(1) — employee NPS | ₹30,000 | |||
| 80CCD(1B) — additional NPS | ₹50,000 | ₹50,000 | ₹50,000 | |
| 80D — mediclaimself & family | ₹24,000 | ₹25,000 | ₹24,000 | |
| 80TTA — savings interest | ₹9,200 | ₹10,000 | ₹9,200 | |
| Total Chapter VI-A deductions allowable | ₹2,33,200 |
Findings — 1
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High the 80C aggregate of ₹1,68,000 (80C ₹1,38,000 + 80CCD(1) ₹30,000) exceeds the ₹1,50,000 combined ceiling by ₹18,000; the excess is inadmissible and the deduction is restricted to ₹1,50,000. DeterminedAuthority: S.80CCERestrict 80C + 80CCC + 80CCD(1) to ₹1,50,000; consider shifting ₹18,000 of NPS to 80CCD(1B) if headroom exists.
Tax Computation & Liability
All clear
Computation ladder
| Computation | Amount | Verdict |
|---|---|---|
| Total incomenormal-rate ₹44,00,000 + special-rate ₹4,20,000 | ₹48,20,000 | |
| Tax at normal ratesold-regime slab on aggregate income | ₹11,32,500 | |
| Tax at special rates112A LTCG @ 12.5% on gain over ₹1.25L exemption | ₹36,875 | |
| Tax on total income | ₹11,69,375 | |
| Health & education cess4% on tax on total income | ₹46,775 | |
| Net tax liability | ₹12,16,150 | |
| Less: prepaid taxes (TDS + advance) | −₹12,90,000 | |
| Refund due | ₹73,850 |
Taxes Paid & Reconciliation
1 action needed1 to review4 clear
Taxes paid summary
Total TDS
₹12,90,000
Advance / self-assmt
₹0
TCS
₹0
Total taxes paid
₹12,90,000
Reconciliation · claimed (ITR) vs 26AS / AIS
All 26AS deductors present 6/6
Amounts match 5/6
No excess claim 0
| Deductor TAN | Sec | Claimed (ITR) | 26AS | Result |
|---|---|---|---|---|
| Salary · §192 — 1 employer | ||||
| BLRN12345K | 192 | ₹2,32,000 | ₹2,68,000 | TAN not in 26AS+2 more |
| Capital Gains · §194 — 1 deductor | ||||
| MUMB12233K | 194 | ₹42,000 | ₹42,000 | Match |
| Business & Profession · §194J — 1 deductor | ||||
| HYDO33445M | 194J | ₹78,000 | ₹78,000 | Match |
| Other Sources · §194 / 194A — 3 deductors | ||||
| HYDB00112C | 194A | ₹5,800 | ₹5,800 | Match |
| HYDH55667D | 194 | ₹2,200 | ₹2,200 | Match |
| HYDI77889E | 194A | ₹1,300 | ₹1,300 | Match |
| Total · 6 deductors | ₹12,90,000 | ₹13,26,000 | short ₹36,000 | |
Ties to the Tax Computation ladder — "less prepaid taxes ₹12,90,000" draws from this total.
Findings — 1
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High the salary deductor entered as TAN BLRN12345K (§192, ₹2,32,000) does not reconcile to 26AS on three counts: (1) TAN — no such deductor in 26AS; the department reports the transposed TAN BLRN12354K; (2) section — matches once the TAN is corrected; (3) amount — 26AS shows ₹2,68,000, so ₹36,000 is unclaimed. DeterminedAuthority: S.199 r/w Rule 37BACorrect the TAN to BLRN12354K and claim the full ₹2,68,000 TDS per 26AS.26AS — Part A
Cross-Head Consistency
All clear
HRA vs own house (same city)No HRA claimed — not applicable
HP loss set-off within ₹2L₹2,00,000 set off — within cap
Inter-head set-off legalSet-off map respects S.70/71
Special-rate income segregatedNo special-rate income present