Itr dilema

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This query is : Resolved

Stranger (Querist)

06 August 2014 Respected CCI members, an assessee providing engineering consultancy services to a company through a third party contractor. The contractor gives him consultancy fees after deducting TDS u/s-194J & issues Form 16A. For the A.Y. 2012-13, the assessee filed ITR-4 (business code: 0607) within due date after claiming some expenses & claimed refund which is already received & books of accounts are maintained as required u/s-44AA as engineering consultancy is a specified profession. In A.Y. 2013-14, ITR-4S (with same business code: 0607) has been filed (though not actually applicable) within due date to avoid maintaining books of accounts & again refund has been claimed & received & so doesn’t wants to revise his ITR for A.Y. 2013-14. Now for the A.Y. 2014-15, the assessee earned consultancy income for one month only & then employed on regular payroll in an another company. Can the assessee continue to file ITR-4S (but with different non-specified business code) or ITR-2 (as exempt income exceeds Rs.5,000) can be filed by mentioning such consultancy income after claiming expenses u/s-57(iii) as ‘IFOS’ to be at the least risky position?

Nikhil Kaushik

Nikhil Kaushik (Expert)

07 August 2014 well given that he continues to file wrong returns, he might well file ITR1.

if you wish to give right advice, then kindly advise him to file ITR4

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