Form 4s

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Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2013 An assessee having Presumptive income under section 44AD and also he has got Prize in kind (TV) in some scheme and sponsor has deducted TDS 30% TDS and credited in form 26AS.
Whether an assessee can use FORM 4S if not which form he has to use please advice assessee.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

18 July 2013 He can use ITR-4. He can not use ITR 4S.

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2013 Sir,

Thank you for your reply. How can he declare his presumptive income in ITR - 4. Is it possible please give reply immediately

Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2013 Sir,
No reply to my query. Please give reply

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

20 July 2013 He has to declare his income in Item No 51 in Part A P&L.
.
Item No 6 in PART A-BS
Provided certain information regarding 4 items like Drs, Crs, Stock and Cash.
.
In schedule BP Item No 33i mention the income and follow the format.
.

Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2013 Sir,
Thank you for your reply the total income exceeds Rs.25 Lakhs is necessary to fill Schedule AL. I hope that you will give reply as soon as possible

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

20 July 2013 Yes in such cases required details are to be furnished for AY 2013-14.
.

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