Can i revise itr 1 to itr 4 or itr 3

4221 views 34 replies

No need to change anything now. Let the mistake remain, there is no change in tax liability, so, unless any query from department, let it remain.

Replies (34)

No need to change anything now. Let the mistake remain, there is no change in tax liability, so, unless any query from department, let it remain.

Sir, He is going to loan . But, Banker note the itr 1 is not suitable for Your business. So, What can i do...
In case will pay some more tax then revise itr.?

Yes, you can revise with ITR4, with same amount of income u/h PGBP.

Originally posted by : Dhirajlal Rambhia
Yes, you can revise with ITR4, with same amount of income u/h PGBP.

Thank You sir...

In case the profit value will be raise and Payment will be pay extra 1000 or 2000 for loan process.

Can I go to the way...?

That will not help much. Rather just revise it with same income details, to avoid any future query.

Originally posted by : Dhirajlal Rambhia
That will not help much. Rather just revise it with same income details, to avoid any future query.

 

Thank You Sir.,

I'll go to this way as it final without any changes except ITR form from ITR-1 to ITR-4...

Respected Sir.,

 

Now (today) I'm try to revise the ITR-1 to ITR 4. All details fill and prepare the Profit and it's deductions based on previous ITR. Tax Values are matched.

But., Interest amount show extra Rs. 270...

I think the previous payment can't with interest

 

As below the comutation filing on 10/10/2017

PGBP Rs. 394340 (-) Rs. 8500 (u/s 80D) = Rs. 385840 - Rs. 250000 = Taxable Income Rs. 135840.

Tax on Total Income - Rs. 13584 

Rebate u/s 87A - Rs. 5000 Balance Tax Payable - Rs. 8584 + Cess 258 = 8842

Tax Paid - Rs. 8840 (can't calculate and paid Interest on 10/10/2017

 

Now., 

What can I do...?

Can I pay the Interest u/s 234A - Rs. 270...?

Is any problem arise...?

No problem. Its revision of belated return. Otherwise it would have been outstanding demand.

Its better to pay the interest amount and revise.

Thank You Sir...

I'll pay now (Today & filing today)... And go to File...

 

Thanks once again...

Dear Sir.,

One Taxpayer  File his return on AY 2018-19 u/s 44AD. He also file the sec on AY 2017-18. Now.,

His T/O Rs. 1730830. Profit will be shown Rs. 436130 and Tax Payable Rs. 8330...

 

Can He go with ITR u/s 44AD...?

Any future paroblem to him...

What was the profit margin for the same business in AY 2017-18, and earlier years .........

Try to relate that in current year margin.

Originally posted by : Dhirajlal Rambhia
What was the profit margin for the same business in AY 2017-18, and earlier years .........

Try to relate that in current year margin.

Is any problem if differents.

Bcoz,

In AY 2017-18 - T/O Rs. 1323460 and Profit Rs. 278590 - % of profit - 21.05%

In AY 2018-19 T/O  Rs . 1730,830 and Profit Rs. 436130 - % of Profit - 25.197%

 

Please give solution sir...

As such no problem..... deviation is within acceptable range....

Originally posted by : Dhirajlal Rambhia
As such no problem..... deviation is within acceptable range....

deviation is within acceptable range

Which deviation not acceptable...? Please can you explain...

 

Bcoz,

One of the Assesee going to Bank Loan for House...

His AY 17-18 profit margin 18.25%. But, In AY 2018-19 its show 24.84%. Is it any problem...?

 

The same think one Assessee in AY 17-18 26.89% & in AY 18-19 only 19.26%

Both above is u/s 44ad (for contracors, labours and trading0


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register