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Itr

rahul (accountant) (87 Points)

23 July 2014

any one help me one of my client having income from two truck operating,and two truck he takes on lease and farwarded to company, he give all these four trucks on lease to a company and receive near about Rs 720000 i want to file his itr under itr4s by showing 2trucks *12 month * 19200 per month i.e. 460800 and pay tax on it near about 15000 approx. can i do so

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4 Replies

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 23 July 2014

what are you planning for rest of two trucks because co. would be paying through cheque. so you must also declare this income.

rahul (accountant) (87 Points)
Replied 24 July 2014

yes company pay directly to there account, but i only show income under ITR4S for those trucks which are owned by my client, and the lease truck are not owned by him so its a presumtative income i can show the lower income of rs 5000 per truck . does it affect there case

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 24 July 2014

though ownership of truck does not belong to assessee but he is earning by plying such trucks... so it would be better that you show presumptive income from all four trucks.

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