Dear Sir
A Director of the company has withdrawn Salary of Rs 60 lacs from the Company in financial year 2012-13. He is also Director in another company in which he has received consultancy fee of 15 lacs in the same year.
Please advise appropriate ITR form (ITR 2 or ITR 4) for IT Return keeping in mind that the assessee is not maintaing Balance Sheet. There is no consultancy fees upto financial year 2011-12, hence, he had filed ITR 2.
Can he show consultancy fees in ITR 2 as Income from Other Sources. If Yes, Should he revise his return in ITR 2 as he already filed ITR 4.
Thanks & Regards
Ritesh