Section 44ae : advance tax and itr.

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Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2012 guys please clarify which itr form has to be used in case of a pvt. ltd. company who is declaring income under sec. 44AE and also is it liable to pay advance tax if it opts for section 44ae ?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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04 April 2012 1. The firm will have to use ITR 5 because ITR 4S is only for individuals and HUF.

2. Yes, the firm is liable to pay advance tax.

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Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2012 BUDDY ITS A PVT. LTD. COMPANY...SO ITS GONNA BE EITHER ITR6 OR ITR 4 AND I AM CONFUSED BETWEEN THE TWO...PLS HELP.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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04 April 2012 A company has to file ITR 6. ITR 4 is only for assessees other than companies.

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