If income is more than mention in 44ae (more than rs.5000)
This query is : Resolved
CA. Afjal Y Hamirani
(Querist)
20 August 2011
hello sir,
my father is doing transportation business.and we already files last two year returns.and we didn't maintain books of account. we wants to file return for assessment year 2011-12 because of getting home loan.and our business also covered in section 44ae. so please give me suggestion for filling return & procedure for that. thank u sir..
i also wants to know that if i am mention my income above rs. 5000 for one truck than can i do this?
my father is doing transportation business.and we already files last two year returns.and we didn't maintain books of account. we wants to file return for assessment year 2011-12 because of getting home loan.and our business also covered in section 44ae. so please give me suggestion for filling return & procedure for that. thank u sir..
i also wants to know that if i am mention my income above rs. 5000 for one truck than can i do this?
CA PARAS BAFNA
(Expert)
20 August 2011
File Chacha's return in ITR 4S.
Mention the income Under Section 44AE clause.
You can show higher hire income.
Mention the income Under Section 44AE clause.
You can show higher hire income.
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21 August 2011
For showing higher income there is no bar but you cannot show lower income as prescribed in the section. The expert has rightly suggested to file the return accordingly.
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