Ashish Bhalara (Sr. Account Officer) (345 Points)
19 February 2016I want to know that if total earning during the year is arounding Rs.230000 in cash from different job work and the cash deposition in bank only Rs.150000 in FY and there are not any income proof of whole amount then it is possible to show whole income Rs.230000 in ITR under Other Source of Income or have to show only Rs.150000/-?
Please guide that how to show income in ITR if not having any income proof?
Amit Kanunga
(Article Assistant and Post Gradute)
(644 Points)
Replied 19 February 2016
Can u elaborate the other sources of income ?
Ashish Bhalara
(Sr. Account Officer)
(345 Points)
Replied 19 February 2016
Other income containing the fees of accounting entries for small shop keeper, commission received in cash by giving references for insurance policies and car customer.
All the income receive in cash which is also not book in account of service receiver. So not got a form of 16A.
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 19 February 2016
Since the aggregate income does not exceed the exemption limit, no need to file ITR at all. Even then if you want to file, it is better to show Rs.2.3 lacs because it does not exceed the limit.
Shivani Mittal
(Practice)
(425 Points)
Replied 19 February 2016
File ITR-4. Rs. 230,000/- can be shown as receipts from services (if it is not the net income). Expense can be claimed against it. Balance of Rs 80000/- (i.e 230000-150000) will be shown as cash in hand.
Regards
CA Shivani Mittal
Shivani Mittal
(Practice)
(425 Points)
Replied 19 February 2016
File ITR-4. Rs. 230,000/- can be shown as receipts from services (if it is not the net income). Expense can be claimed against it. Balance of Rs 80000/- (i.e 230000-150000) will be shown as cash in hand.
Regards
CA Shivani Mittal
Ashish Bhalara
(Sr. Account Officer)
(345 Points)
Replied 19 February 2016
Can I File ITR-1 to show income under Other Source of Income?
Shivani Mittal
(Practice)
(425 Points)
Replied 19 February 2016
Yes
Even in that case, there is no need to file ITR for the reason's mentioned by Poornima
ravinder rohilla
(accounts manager)
(38 Points)
Replied 20 February 2016
SUSHILKUMAR RAMESHBHAI THAKKAR
(CA Practice )
(25 Points)
Replied 20 February 2016
Rajesh Chhaparia
(Practice)
(26 Points)
Replied 20 February 2016
Kamal vashist
(Accountant)
(183 Points)
Replied 23 February 2016
you should simply file the ITR from RS.230k. The exemption limit is upto Rs 250k
Kamal vashist
(Accountant)
(183 Points)
Replied 23 February 2016
you should simply file the ITR from RS.230k. The exemption limit is upto Rs 250k
CAclubindia
