Which itr form is applicable ?
This query is : Resolved
Nitin Salve
(Querist)
08 November 2015
one of my friend have tourist vehicle. He have received income rs. 354000/- in 13-14 after deduction of tds. But he never maintain his accounts. Now IT dept. send a reminder email fo filling of return. we are doing his b/s for 13-14 & 14-15 . which Itr form should we use ?
08 November 2015
Tourist vehicle means he is doing business of plying tourist vehicle for passengers. This is not covered U/s 44 AD. So he has to maintain books of accounts. Prepare a profit and loss account and balance sheet. Take gross income ( income and tds made on such income) and deduct allowable expenses, if vehicle finance is there, consider the loan as well as interest.Check form 26 AS online. Then file ITR. From to be used is ITR-4
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