Filing of income tax returns
This query is : Resolved
11 March 2012
I AM AN INDIVIDUAL AND HAVE DONE CONTRACT WORK IN THE CONSTRUCTION AREA IN F.Y. 2010-2011.
FOR THE ABOVE WORK I HAVE BEEN PAID Rs. 5,55,000/- and TAX DEDUCTED AT SOURCE WAS RS. 5550/- under Section 194 C (i.e., 1% on Rs. 5,55,000/-).
I HAVE NOT MAINTAINED ANY BOOKS OF ACCOUNT FOR THE ABOVE WORK.
THE DUE DATE FOR FILING THE RETURN WAS ON 31.07.2011 BUT I HAVE NOT FILED THE RETURN WITHIN THE DUE DATE.
NOW I WANT TO FILE THE RETURN.
MY QUERY IS:
1. CAN I FILE THE RETURN NOW.
2. WHAT IS THE FORM THAT I HAVE TO USE FOR FILING THE RETURN?
3. CAN I FILE THE RETURN UNDER SECTION 44 AD AND WHAT IS THE MINIMUM INCOME THAT I HAVE TO DECLARE UNDER SECTION 44AD?
4.CAN I CLAIM THE TDS AMOUNT OF RS. 5550/- AS REFUND.
FOR THE ABOVE WORK I HAVE BEEN PAID Rs. 5,55,000/- and TAX DEDUCTED AT SOURCE WAS RS. 5550/- under Section 194 C (i.e., 1% on Rs. 5,55,000/-).
I HAVE NOT MAINTAINED ANY BOOKS OF ACCOUNT FOR THE ABOVE WORK.
THE DUE DATE FOR FILING THE RETURN WAS ON 31.07.2011 BUT I HAVE NOT FILED THE RETURN WITHIN THE DUE DATE.
NOW I WANT TO FILE THE RETURN.
MY QUERY IS:
1. CAN I FILE THE RETURN NOW.
2. WHAT IS THE FORM THAT I HAVE TO USE FOR FILING THE RETURN?
3. CAN I FILE THE RETURN UNDER SECTION 44 AD AND WHAT IS THE MINIMUM INCOME THAT I HAVE TO DECLARE UNDER SECTION 44AD?
4.CAN I CLAIM THE TDS AMOUNT OF RS. 5550/- AS REFUND.
11 March 2012
1. YES
2. ITR 4S
3. YES, Rs.44,000/- (@ 8% of gross receipts)
4. YES
2. ITR 4S
3. YES, Rs.44,000/- (@ 8% of gross receipts)
4. YES
12 March 2012
1) Yes,You can file the belated return
2)ITR 4S
3)The minimum amount you can calculate at the rate of 8%
4)yes you can
2)ITR 4S
3)The minimum amount you can calculate at the rate of 8%
4)yes you can
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