For assesment year 2012-2013
This query is : Resolved
Puran Chand
(Querist)
28 November 2012
PLEASE, check before i go for file presumptive basis... in ITR-4S.
P.Y-2011-2012
GROSS SALE: per day 3600*26= 93600
per month 93600*12=1123200
8% of 1123200= 89856
taxable income=89856
Therefore, tax payable = NIL
AM I RIGHT OR WRONGH I AM NOT DEDUCTING SALARY OF 60000/PA HOME RENT 7800/Pa AND ELECTRICITY BILL AND OTHER MIS. EXPENSES.
Thanking you
PLEASE, check before i go for file presumptive basis... in ITR-4S.
P.Y-2011-2012
GROSS SALE: per day 3600*26= 93600
per month 93600*12=1123200
8% of 1123200= 89856
taxable income=89856
Therefore, tax payable = NIL
AM I RIGHT OR WRONGH I AM NOT DEDUCTING SALARY OF 60000/PA HOME RENT 7800/Pa AND ELECTRICITY BILL AND OTHER MIS. EXPENSES.
Thanking you
CA. Subhash Dangi
(Expert)
28 November 2012
Yes, u are right. No expenses allowable under presumptive tax basis.
However in case of partnership firm, the remuneration to working partners and interest on capital shall be allowed and deducted subject to prescribed limit.
However in case of partnership firm, the remuneration to working partners and interest on capital shall be allowed and deducted subject to prescribed limit.
Message likes :
1 times
Gayathri Devi
(Expert)
28 November 2012
Dear Sir
If you adopt this method then you cant able to claim any expenses includng depriciation. Hence your calculation is correct.
If you adopt this method then you cant able to claim any expenses includng depriciation. Hence your calculation is correct.
Message likes :
1 times
Puran Chand
(Querist)
28 November 2012
Respected Sir, its Gol-Gappe Wali Rahdee of my Father ji and I want to file return online
is this income is taxable or not
and i choose code 0714 Others of service sectors.
please guide
is this income is taxable or not
and i choose code 0714 Others of service sectors.
please guide
Gayathri Devi
(Expert)
28 November 2012
Dear Sir
If you adopt this method then you cant able to claim any expenses includng depriciation. Hence your calculation is correct.
If you adopt this method then you cant able to claim any expenses includng depriciation. Hence your calculation is correct.
Message likes :
1 times
Puran Chand
(Querist)
28 November 2012
Respected Sir, its Gol-Gappe Wali Rahdee of my Father ji and I want to file return online
is this income is taxable or not
and i choose code 0714 Others of service sectors.
please guide
is this income is taxable or not
and i choose code 0714 Others of service sectors.
please guide
Gayathri Devi
(Expert)
28 November 2012
Dear Sir
Kindly say it in english fully. i didnt get your point
Kindly say it in english fully. i didnt get your point
Puran Chand
(Querist)
28 November 2012
Respected Madam,
Are eaten Chat and
Pani-Puri (GOL-GAPPE), this is on thelaa (rahdee) i means four wheel rahdee,
got it
please tell now , is this income is taxable or not and chosen code is right
Are eaten Chat and
Pani-Puri (GOL-GAPPE), this is on thelaa (rahdee) i means four wheel rahdee,
got it
please tell now , is this income is taxable or not and chosen code is right
Gayathri Devi
(Expert)
28 November 2012
0714 is for others - service sector. It is an business & not come under the head service sector.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- MSME disclosure and disallowance
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Taxation of crypto futures in India Fy 2026- 2027
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
