Which itr applicable

1. ITR 4S or ITR 4

2. ITR 1 or 2A or 2

1. ITR 4S or ITR 4

2. ITR 1 or 2A or 2

Sir, In ITR 1 or 2 which he will file for taking bank loan - in which name he will show his income. As now he do not have any income. Pls clarify.

In his personal capacity, as no business as yet.

Take help of any local CA for preparing income to be declared, as you need to take Bank loan.

Sir, In above case as stated to you for another person he has salary income Rs. 90,000 /- per year and besides vehicle rental income. Vehicle ental income received by cheque from company and salary income he received in his payroll account. So, there is two question arise here -

1). He will file in ITR 4S as presumptive income as per section 44AE i.e Rs 7,500 /- p.m per vehicle but he received in cheque regarding this hire charge Rs. 20,000 /- p.m then any problem will arise from department?

2). If he will not shows his salary income in ITR 4S then any problem will arise in future although it has came through bank account?

For your second query case: 1. Let me presume the vehicle is goods carriage, and the hirer is aware about TDS and service tax liability over the hired vehicle.  As far as IT is concerned, section 44AE can be applied, with MINIMUM 7,500/- PM as income of the vehicle. Department can ask for the hire charge of the amount 20K PM, but as books are not required to be maintain, a general answer to the enquiry is the rest goes into EMI, expenses, maintanance, Depreciation. etc. So, its always preferable to show what remains into the account

2. Don't try to save on salary received by cheque. Cross-verification will be more problematic and stressful.