Itr
This query is : Resolved
05 July 2013
If one person is having own car. He himself given his car on hire basis to x ltd & also drive the car himself & get amount from company. I want know in which ITR his income to be shown? whether ITR 4 as professional( driver) or ITR 2 for salary?
05 July 2013
If he is an employee and gives his personal car on hire then it is income from other source its not salary nor professional income.
file itr 1 only.
file itr 1 only.
Ganeshbabu K
(Expert)
05 July 2013
He cannot file ITR1 in my opinion
it is taxable under head Business and profession and accordingly ITR4 can be filed
as assesse himself driving the car so in this case we cannot consider this as other source of income
it is taxable under head Business and profession and accordingly ITR4 can be filed
as assesse himself driving the car so in this case we cannot consider this as other source of income
05 July 2013
Assessee is an employee getting salary and renting car is not his business so its income from other source thats y he cannot file ITR4 in my opinion.
06 July 2013
Agree with both the Experts.
CA S.IBRAHIM
(Expert)
07 July 2013
If we carefully read d issue it is clear that he is not employee he is driving d car n has given it on hire, hence it is business income so IRT 4 should be filled.
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