Itr form submission
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 January 2013
Sir,Income from JCB machine giving on hire to company received during f.y.2011-12.And company deduct tax U/s194I.Shall i use ITR-2 form to show income as income from other sources?
25 January 2013
You can do so. However, you can ascertain your income by taking into account all the relevant expenses, depreciation, interest on loan etc.
.
You can also show that letting out JCB Machines is your business activity. In such a case go on the presumptive basis of 8% of Gross Receipts, if your gross receipts do not exceed 60.00 lacs, you may escape from all such calculations.
In such a case you should file your return in ITR-4S.
.
.
You can also show that letting out JCB Machines is your business activity. In such a case go on the presumptive basis of 8% of Gross Receipts, if your gross receipts do not exceed 60.00 lacs, you may escape from all such calculations.
In such a case you should file your return in ITR-4S.
.
Message likes :
1 times
25 January 2013
Very well explanation by the expert. I totally agree with him .
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
