Filling of itr 4 (business income)
This query is : Open
26 December 2014
Dear Sir,
The Assessee has business income and he has taken TDS (form 16A) from his clients (A.Y.2013-14). He has filed ITR 4 up to F.Y.2011-12.
Sir please let me know the following query.
He didn't file the ITR4 for the F.Y.2012-13 till the date. As per the bank book he has total credit income for the F.Y.12-13 is Rs.5.5 lacs and net taxable income is Rs.3.90 lacs approx.
Sir further he has taken TDS certificate of Rs.11,300/- from his clients
sir, please let me know can he file his return now ? if yes how to calculate interest and penalty on taxable income.
Sir he has not maintained any books of account. Let me know should he upload his balance sheet and profit and loss account.
Sir please let me know the documents which should be uploaded with his return (ITR 4).
Thanks in Advance!!!!!!
RUPESH
The Assessee has business income and he has taken TDS (form 16A) from his clients (A.Y.2013-14). He has filed ITR 4 up to F.Y.2011-12.
Sir please let me know the following query.
He didn't file the ITR4 for the F.Y.2012-13 till the date. As per the bank book he has total credit income for the F.Y.12-13 is Rs.5.5 lacs and net taxable income is Rs.3.90 lacs approx.
Sir further he has taken TDS certificate of Rs.11,300/- from his clients
sir, please let me know can he file his return now ? if yes how to calculate interest and penalty on taxable income.
Sir he has not maintained any books of account. Let me know should he upload his balance sheet and profit and loss account.
Sir please let me know the documents which should be uploaded with his return (ITR 4).
Thanks in Advance!!!!!!
RUPESH
26 December 2014
Yes he can file his ITR4 up to 31.03.2015 u/s 139(4) however A penalty of Rs 5000/- u/s 271F may be imposed by the AO.
Further Interest u/s 234A,234B and 234C would be applicable in this case.
Further maintanance of Books depands on the nature of Income.
Plz tell whether Prop. or Partnership
If prop then Chapter VIA deductions has been taken or not
These queries should be replied urgently
then Tax and Interest would be calculated accordingly
Further Interest u/s 234A,234B and 234C would be applicable in this case.
Further maintanance of Books depands on the nature of Income.
Plz tell whether Prop. or Partnership
If prop then Chapter VIA deductions has been taken or not
These queries should be replied urgently
then Tax and Interest would be calculated accordingly
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26 December 2014
Please check it whether assessee has eligible under scection 44AD
If assessee is eligible business under section 44AD, then it that case he doesn't require to maintain books of account under section 44AA.
Further, under that section he doesn't requires to file file Balance sheet.
Only .XML file require to uploaded in all cases of ITR-iv .
If assessee is eligible business under section 44AD, then it that case he doesn't require to maintain books of account under section 44AA.
Further, under that section he doesn't requires to file file Balance sheet.
Only .XML file require to uploaded in all cases of ITR-iv .
Message likes :
1 times
27 December 2014
Dear Sir
Your answer is highly appreciate
However, The Assessee has Prop. Business Concern and he is (Freelancer) Make up artist of bridal and model.
Sir, let me know whether he should upload his bs and P& L a/c with ITR 4 (How to fillup the ITR4)
How to pay Penalty mean in which Challan
Thanks in Advance
Your answer is highly appreciate
However, The Assessee has Prop. Business Concern and he is (Freelancer) Make up artist of bridal and model.
Sir, let me know whether he should upload his bs and P& L a/c with ITR 4 (How to fillup the ITR4)
How to pay Penalty mean in which Challan
Thanks in Advance
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