Itr clarification
This query is : Resolved
26 June 2018
Dear Sir,
My colleague is independent a consultant & providing consultancy in a company & raising monthly Invoices. Please let me know which ITR need to be filed? ITR1, 2, 3, 4 or 5. Please clarify & what kind of savings/investments/examptions he can show in his return
My colleague is independent a consultant & providing consultancy in a company & raising monthly Invoices. Please let me know which ITR need to be filed? ITR1, 2, 3, 4 or 5. Please clarify & what kind of savings/investments/examptions he can show in his return
CA R SEETHARAMAN
(Expert)
26 June 2018
ITR 3 to be filed 80c, 80D exemption can be claimed. Expenses in providing consultancy like travelling expenses can be claimed.
26 June 2018
does he need to maintain books of accounts also? his monthly income is only 25k per month. Can he avail refund as well of deducted TDS? what are the limit
26 June 2018
Please read section 44AA (1) / (2) and decide accordingly.
26 June 2018
Dear Sir,
Thank you for your valuable reply. Please guide me about the same because his monthly income is only 25k per month & TDS is being deducted @ 10% rs. 2500/-. can he claim refund of the deducted TDS?
Thank you for your valuable reply. Please guide me about the same because his monthly income is only 25k per month & TDS is being deducted @ 10% rs. 2500/-. can he claim refund of the deducted TDS?
Ketan Samdani
(Expert)
26 June 2018
He can claim refund subject to having permissible deductions from total taxable income.
CA R SEETHARAMAN
(Expert)
26 June 2018
Yes he can get refund of TDS deducted as no tax payable on the income.
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