LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Forgot to file ITR(Best Example)

29 January 2023

Hypothetical example:

*Turnover - 1 Crore
*194J - 10 lakh
*opted for 44AD- therefore income 10 lakh.
*Tax - 117000 on 10 lakhs

forgot to file the ITR for the relevant AY, Now is their any way to claim the refund of 883000?

Can I claim it in the next year by revising TDS return or something else?

Reply
Follow
Share

10 Replies

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 29 January 2023

Yes you can claim it. Inbox for further details.

2 Like

MPR Sanjay Kumar (2979 Points)
Replied 30 January 2023

@ Honourable Rashmi Gandhi mam,what is the depreciation rate of percentage for motorbike (bike)?? which depreciation method I should have to do

for instance if I bought a motor bike on 12.6.2017 the cost is RS 45,500 means while I am making for balance sheet 2019 to 2020 31 St March balance sheet which depreciation value I have to show in my BS ???

please I need a calculations

sabyasachi mukherjee (26047 Points)
Replied 30 January 2023

Post actual facts.
You can certainly proceed further datas provided you hv relevant details.

1 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 30 January 2023

In normal circumstances sec 44AD not eligible, as TDS deducted u/s. 194J !!

2 Like

sabyasachi mukherjee (26047 Points)
Replied 30 January 2023

Gross receipts from profession does not exceed Rs.50 lakhs.

1 Like

shivam bhatia (231 Points)
Replied 30 January 2023

@ dhirajlal rambhia
agreed with you, let's change it to another section. Let it be the hypothetical example.

3 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 30 January 2023

TDS return cannot be revised if the client has already received your service in current year.

File return after getting the permission from JCIT u/s. 119(2)(b) of IT act.

3 Like

shivam bhatia (231 Points)
Replied 30 January 2023

Okay, thank you so much sir.
Is it the only way to claim TDS credit?

3 Like

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 30 January 2023

You can claim refund either by way of condonation request as specified by Dhirajlal Sir or you can also show it in current year only if receipts are made in current year .

2 Like

MPR Sanjay Kumar (2979 Points)
Replied 30 January 2023

@ honourable Rashmi Gandhi mam,
Mr A purchased land on 3.9.2012 2 cent ,1320 sqft ,price of land is 70,000 .now IAM preparing balance sheet on now 31 March 2020 means

I have to which value balance shown in under fixed assets

plse explain me

1 Like