Requirment for FILE A ITR first time

Tax queries 600 views 5 replies

I manufacture shoes etc, i wanat to file a ITR, which type of doucemenat  require and i want pay only 500 Rs, towards the tax.

In my saving A/C deposit is above 10 lacs. what i DO ???????

It"s urgent

Replies (5)

Need more Details. just like, What is the turnover for the year.

 

after that, if you go with sec. 44AF, you have to show profit @ 5% of total turnover.

 

you need to maintain details of how you got this 10lacs?

 

;)

Originally posted by : vkbothra

Need more Details. just like, What is the turnover for the year.

 

after that, if you go with sec. 44AF, you have to show profit @ 5% of total turnover.

 

you need to maintain details of how you got this 10lacs?

 

;)

44af for retailer, 44ad for contractor, I do not want to disclose my income on specific section. Gross sale is above 10 lacs and no TDS is deducted, please send me basic requirement for  filling the return first  time .

No need to disclose dear, I know in this menufacturer work, you have to file return with u/s 44AF, this because Trading / menufacturing works come into this section.

 

and now as per the sale, prepare Trading, P&L a/c with minimum net profit 5% of the gross trunover.

for filing return first time, you can use e-filing xml utility from IT department or you can use your own software.

create user id of the assessee in incomtaxindiaefiling.gov.in site and upload there the .xml file. and you are done ;)

Originally posted by : Nitesh Mangal

I manufacture shoes etc, i wanat to file a ITR, which type of doucemenat  require and i want pay only 500 Rs, towards the tax.

In my saving A/C deposit is above 10 lacs. what i DO ???????

It"s urgent

file your return in ITR4 and deposit appropriate tax as applicable, 


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