Go AD-Free with CAclubindia Pro and Daily Mobile Updates. Subscribe Now!

10iea for Ay 2024-25

ANIL KUMAR KHETAN (PROPRIETOR) (542 Points)

25 July 2024

From 10iea file within time i.e. upto 31st July 2024 , but ITR wanted file belated upto December 2024 . It is possible or not for business income return ITR 4 or ITR 3 , please immediately reply required

Reply
Follow
Share

2 Replies

Rama chary Rachakonda (Master in Accounts & high court Advocate) (8497 Points)
Replied 25 July 2024

The 10-IEA filing procedure refers to the process of filing Form 10-IEA with the Directorate General of Foreign Trade (DGFT) in India. Here's a step-by-step guide: *Form 10-IEA:* - *Purpose:* To apply for an Importer-Exporter Code (IEC) number. - *Eligibility:* All importers and exporters must obtain an IEC number. *Filing Procedure:* 1. *Online Registration:* Register on the DGFT website (https://www.dgft.gov.in/) and create a user ID and password. 2. *Fill Form 10-IEA:* Fill the online application form with required details, including: - Business details - Address - Bank account details - PAN number - Aadhaar number (for individual applicants) 3. *Upload Documents:* Upload scanned copies of: - PAN card - Aadhaar card (for individual applicants) - Cancelled cheque or bank certificate - Address proof 4. *Pay Fee:* Pay the application fee (currently ₹500) online. 5. *Submit Application:* Submit the application and take a printout of the acknowledgement. 6. *Verification:* The application will be verified by the DGFT. 7. *IEC Number:* If approved, an IEC number will be generated and sent to the applicant's email ID. *Note:* - Ensure all details are accurate and documents are uploaded correctly. - In case of errors or rejections, resubmit the application with corrections. - The IEC number is valid for life, unless surrendered or cancelled. Please consult the DGFT website or a trade expert for any further assistance.

Rama chary Rachakonda (Master in Accounts & high court Advocate) (8497 Points)
Replied 25 July 2024

Business income should be reported in: - ITR-3 (Form ITR-3): If the business is a proprietary concern or a partnership firm, and the assessee is not eligible to file ITR-4. - ITR-4 (Form ITR-4): If the business is a proprietary concern and the assessee is eligible to file ITR-4 under the presumptive taxation scheme (Section 44AD or 44AE). Key differences: - ITR-3: - Applicable for businesses with turnover exceeding ₹2 crores. - Requires detailed accounting and audit reports. - ITR-4: - Applicable for businesses with turnover up to ₹2 crores. - Presumptive taxation scheme, with a deemed profit percentage. If you're unsure which form to use, consider consulting a tax expert or chartered accountant to ensure accurate reporting and compliance with tax regulations.

CCI Pro

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

CCI Pro

Meet our PRO Members

Sakar P. Korde

PRO MEMBER

vikram singh

PRO MEMBER

santosh todkar

PRO MEMBER

Jithin Sabu

PRO MEMBER

Aakash K. Sahu

PRO MEMBER

Subscribe to CAclubIndia Pro

Trending Online Classes

GST Demands and Recoveries: Navigating Through the Tides

CA Nipun Arora

Enroll Now

17 July 2025
Certification Course on Practical Filing of Income Tax Returns

CA Pratibha Goyal

Enroll Now

09 July 2025
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools

CA Deepak Gupta

Enroll Now

15 July 2025

view all classess

Follow us

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads

Recent Posts

Unreplied Threads

Settings