Income tax return for brokrrage
This query is : Resolved
01 September 2013
Can income tax return for BROKERAGE INCOME be filled under the sec. 44AD "Presumptive Income"....??
And if return for A.Y. 12-13 has been filed u/s 44AD then what are the consequence for the same... ??
And if return for A.Y. 12-13 has been filed u/s 44AD then what are the consequence for the same... ??
01 September 2013
No. Brokerage income is not eligible to claim presumptive income u/s.44AD
Message likes :
1 times
01 September 2013
an another query if return for A.Y. 12-13 has been filed u/s 44AD then what are the consequence for the same...
01 September 2013
My opinion, it may be considered as defective return u/s.139(9).
You can revise the return with correct details u/s.139(5)
You can revise the return with correct details u/s.139(5)
02 September 2013
If tereun of income has been filled belated then what can be done in this matter.....???
02 September 2013
When officially if u filed return u/s 44AD which is not allowed for brokerage income then there is no valid return filed by u as what u filed is not allowed so u need to file itr-4 within 1 year from end of rel AY.
You can file within 31.3.2014 which shall be belated return u/s 139(4).
You can file within 31.3.2014 which shall be belated return u/s 139(4).
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
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
