26 March 2013
MY CLIENT HAS PENSION INCOME AS HE IS A RETD. GOVT.EMPLOYEE AND IS ALSO A WORKS CONTRACTOR AND HAS A INCOME FROM PARTNERSHIP FIRM - SALARY AND SHARE OF PROFIT. PARTNERSHIP FIRM INCOME IS ALSO U/s 44AD WHETHER HE HAS FILE RETURN IN FORM 4, IF YES HE DOES NOT MAINTAIN BOOKS THEN WHICH ARE THE COLUMNS TO BE FILED IN ITR4 KINDLY REPLY URGENT
26 March 2013
You are saying an assessee has the following incomes:
Income from salary(pension)
Income from Own Business(Own contract works)
Income from Partnership firm
Is it correct?,
Then he has to file ITR-4, By filling Schedules Salary, BP(as the indication of income offering u/s 44AD by filling the column no 4 in Part A of BP schedule), Schedule IF, And schedule EI along with the another applicable and required schedules and date to be fill.
If you are not understanding how to prepare the ITR then please send your Mail ID i will send you draft copy of Filled ITR.
In case if the assessee has not own business income i.e he has income from Pension and Income from partnership firm then ITR-3 sufficient need not to go for ITR-4.
27 March 2013
If books of accounts are not maintained then PL and Balance Sheet need not be filled but the following are required to be filled in PL SHeet Gross receipts, Gross Profit, Expenses, Net Profit
28 March 2013
If you offering income as per section 44AD then no need to fill the deatils of P&L and Balancesheet if books not maintained because of those who offering their income as per section 44AD need not to maintain books of account. In such case such you attend the Gross receipts And net profit at the column no 51 of Schedule P&L.
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