Nature of businees code in itr-4s
This query is : Resolved
26 August 2015
One of my friend is engaged in the business of plying an hiring of heavy goods vehicle (Nature covered u/s 44AE) and books are not maintained by him. Actually he is not a transporter rather he has two vehicles during the year both of which are engaged in loading and unloading goods of a company.
While filing ITR 4S for F.Y. 2014-15 what should be the relevant code for nature of business as listed in third sheet ('Non BP' sheet)in ITR 4S.
While filing ITR 4S for F.Y. 2014-15 what should be the relevant code for nature of business as listed in third sheet ('Non BP' sheet)in ITR 4S.
27 August 2015
Seems 0712 is the code and nature of business is 'transporters'.
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27 August 2015
Sir,
Thanks for reply but is it correct to mention this code (0712)even if he does not issue any transporter bilty to the company where his vehicles are engaged?
The company deducts TDS u/s 194C (Contractors) while making payment to him. I am in confusion to choose the correct business code among 0712 (transporters), 0714 (Serice-Others, 0505(Contractor-Others) and 1001 (Other Sector).
Thanks for reply but is it correct to mention this code (0712)even if he does not issue any transporter bilty to the company where his vehicles are engaged?
The company deducts TDS u/s 194C (Contractors) while making payment to him. I am in confusion to choose the correct business code among 0712 (transporters), 0714 (Serice-Others, 0505(Contractor-Others) and 1001 (Other Sector).
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