incometax

This query is : Resolved

sumit kansal (Querist)
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31 July 2010 income from leasing light vehicles

AS PER AE44 3150*12=37800
PROFIT DECLARED = 60000

WHERE I WILL POST RS 60000 IN ITR-4 IN SHEDULE BP?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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31 July 2010 In SCHEDULE - BP

33. Profits and gains of business or profession deemed to be under -
section 44AF

sumit kansal

sumit kansal (Querist)
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31 July 2010 SIR ACCORDING TO 44 AF I HAVE TO PAST 3150*12= RS 37800

BUT ASSESSE ACTUAL INCOME IS RS 60000

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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31 July 2010 The show the profit in profit & loss a/c and dont show profit as per 44AF anywhere.

sumit kansal

sumit kansal (Querist)
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31 July 2010 BUT SIR ASSESSEE DID NOT MAINTAIN ANY BOOKS THATS WHY HE OPTS THE SECTION 44AE
IN INCOMTAX BOOKS IS ALSO \WRITTEN THAT ASSESSE CAN SHOW MORE INCOME

THEN IF ASSESSE SHOW RS 60000 ANY WHERE ELSE THEN HOW WILL DEPARTMENT WILL KNOW THAT HE IS FOLLOWING SECTION 44AE

Aditya Maheshwari

Aditya Maheshwari (Expert)
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31 July 2010 by the business code u mentioned in the opening page of ITR.