Codes of Nature Business & Late Filliing

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RAMCHANDAR (Querist)

23 July 2011 Hi
I want to know what is the code for Laundry Shop business in ITR4 for A.Y. 2010-11 and can I file return the Income tax return for the A.Y. 2010-11 now for laundry business and construction business.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

24 July 2011
AY 2010-11

YOU CAN FILE THE RETURN IN ITR 4.
CONTRACTOR OTHERS :CODE NO 0505
(LAUNDRY BUSINESS)

CONTRACTOR CIVIL CONSTRUCTION : CODE 0501

YOU MAY FILE THE RETURN NOW BUT TRY TO SHOW THE INCOME BELOW THE TAXABLE LIMIT.

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RAMCHANDAR

RAMCHANDAR (Querist)

24 July 2011 As last due date 31/03/2011 is also completed for filling return for A.Y. 2010-11 then also can I File return if the income is less than taxable limit as per IT Act section 139.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

25 July 2011 Yes you can file Return for AY 2011-12 also.

It is better to maintain continuity in Return filing.

Time lag is not necessary between filing the returns of 2 year.

RAMCHANDAR

RAMCHANDAR (Querist)

25 July 2011 Hi Mr. Paras Bafna

Thanks to reply me, but still you have not confirmed me that I can file a nil return for the A.Y. 2010-2011.

Please reply me.

Thank & regards.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

25 July 2011 YOU MAY FILE THE RETURN by SHOWING THE INCOME BELOW THE TAXABLE LIMIT FOR AY 2010-11.

RAMCHANDAR

RAMCHANDAR (Querist)

25 July 2011 Thank You Sir

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