Itr 4

This query is : Resolved

rohit mishra (Querist)
Follow

10 March 2013 A person (Books of a/c nt maintained) having Commission only Rs. 60000 and saving bank interest Rs. 1500 in the Previous Year 2011-12. and Tds deducted Rs. 6000 u/s 194H then
1. If I left b/s annexure blank. Is return is correct..? Bcoz I have no further details and main object of this return is to find refund only
2.Whether I show commissin Income as gross profit or gross reciept......?

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

10 March 2013 you can show it is gross receipt and claim no expenses (if you dont have any). income from bank interest will go to the "income from other sources".

whether b/s annexure part has been filled right or wrong depends on whether you are liable to maintain books as per 44AA.

rohit mishra

rohit mishra (Querist)
Follow

10 March 2013 Thank u sir. This is first return of assessee.
1. I want to ask u.....If I do not maintained books of a/c and I left blank column given in b/s annexure for the persn who do not maintained b/s annexure......Is it correct....???

2. If I take it as gross reciept then excel utility does not show such receipt in business income under computation of total Income.
And If I show it as gross profit then It consider.....
plz solve my problem....

Upgrade to CAclubindia Pro. Subscribe Now!

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

10 March 2013 1. It is correct only if the assessee was under law not required to maintain proper books of the accounts. In case the assessee is in profession covered under 44AA(1), then the maintenance of books is compulsory.

2. You are supposed to mention as follows: Gross receipts Rs 60,000. Gross Profits Rs 60,000.

rohit mishra

rohit mishra (Querist)
Follow

10 March 2013 Thank u very much
Because assessee has no further income in P.Y. 2011-12 and a company SAI PRASAD PROPERTIES LIMITED deduct tax u/s 194h
and This return is being filled only for claiming refund amount.

Please tell me if a company deduct tax u/s 194h brokering/ commission then deductee is required to maintain books of account..???