Revised return

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Dear Experts, We have already filled original return of our client in form ITR 4S plus other income in the return. Now We need to revise the return because our client has informed us about the Income which is not disclosed in ITR 4S. The income to be added in the Revised Return is the Income of H.P. and client is Co-owner. So now while revising the return, We need to change the ITR Form from 4S to ITR 4 because the client is Co owner. Client had not maintained the Book of Account and the Turnover is more than 10 Lakhs, then how can we present our business income in ITR 4 when we have not maintained book of accounts ?. Is it correct if we present and fill the details in ITR 4 under Part A-BS (6) and under Part A-P&L, in case where regular books of account of business or profession are not maintained such as Total Debtors, Creditor, Stock in Trade, Cash Balance, Gross Receipt, Gross Profit, Expenses and Net Profit and if Turnover is more than 10 Lakh ? Please Suggest. Thank you
Replies (8)

Please check the Row B3:: Income from one House Property  of the ITR 4S, please

Thank you Dhiraj Sir for Reply.

But Sir my client is co-owner in house property and so we cannot fill the details in ITR 4S. We need to fill the details in ITR 4 only.

Kindly Suggest.

Thank You.

 

Does your client have any other house property then the said only?

Ever noted salaried couple filling ITR 1, having joint Home loan accounts?

No sir there is no other house property

Do you mean Joint house property(single) not eligible for ITR1 or 4S?

Sir only for ITR 4S because we are having business income and there are Co-owner in House Property.

4S was already filled by you, so I hope there is no issue in it.

For house income just add the figure of House rent income of the assessee (only his share after standard deduction.) No need to mention here any co-owners. JUST HIS CREDITS.

Thank you so much Sir for your answer...!!! Now I can file the return.


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