Itr form

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2015 DEAR EXPERT MY CLIENT IS A DIRECTION IN A PRIVATE LIMITED COMPANY AS WELL AS PARTNER IN A PARTNERSHIP FIRM.
1) HIS AGGREGATE INCOME FROM BOTH THE BUSINESS IS INCOME IS RS. 29 LAKH IN WHICH ITR THE RETURN SHOULD HE FILE?
2) IF IS INCOME IS LESS THAN 25 LAKH THEN IN WHICH ITR THE RETURN SHOULD HE FILE?
3) CAN HE FILE HIS INCOME TAX RETURN IN ITR 4S?
THANK YOU.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 May 2015 Irrespective of amount of Income he needs to file ITR3. ITR4S not applicable.

Querist : Anonymous

Querist : Anonymous (Querist)

31 May 2015 DEAR GUPTAJI,
IS MAINTENANCE OF BOOK OF ACCOUNT IS MANDATORY IF CLIENT FILE HIS RETURN IN ITR-3, HIS INCOME IS FROM DIRECTORS SALARY AND REMUNERATION AND INTEREST ON CAPITAL.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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31 May 2015 No. Maintenance of books of accounts is not necessary.