Sole Proprietorship
This query is : Resolved
20 July 2010
I have a human resource consultancy office opened last year as a sole proprietor.
I need to file return, for claiming refunds. My queries are:-
1) Should I need to file return before 31st July to claim refund or I can file later before end of the assesment year?
2) As a sole proprietor, I have to show my income as an individual, so is form ITR4 correct for me ?
Your advice on above queries would be appreciated.
Thanks,
Rina
I need to file return, for claiming refunds. My queries are:-
1) Should I need to file return before 31st July to claim refund or I can file later before end of the assesment year?
2) As a sole proprietor, I have to show my income as an individual, so is form ITR4 correct for me ?
Your advice on above queries would be appreciated.
Thanks,
Rina
20 July 2010
You can file your return till 31.03.2011 without attracting penalty.
Yes ITR-4 is the correct return Form
But If you professional income is more that 10 lacs ina year, than you will come within the ambit of Tax Audit. In that Case you have to file your return within 30th September, 2010
Yes ITR-4 is the correct return Form
But If you professional income is more that 10 lacs ina year, than you will come within the ambit of Tax Audit. In that Case you have to file your return within 30th September, 2010
20 July 2010
Agreed With Sunil Ji.
But it is better , if you are not covered in tax audit, file return before 31st July 2010.
You can file return till 31.03.2011 without any penalty but it will be belated return. IF any case you have to revised it in future, then you can't revise. Because belated return can't be revised.
Hence it is better to file return within time limit.
But it is better , if you are not covered in tax audit, file return before 31st July 2010.
You can file return till 31.03.2011 without any penalty but it will be belated return. IF any case you have to revised it in future, then you can't revise. Because belated return can't be revised.
Hence it is better to file return within time limit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
