11 April 2014
hi one of my friend is taxi driver. he runs his own taxi he wants to file his ITR so that he can claim the TDS. his gross receipts are around 4-5 lac as per bank statement. but his books of accounts are not maintained.
Can he file the ITR without books of accounts and if the answer is yes than which form should be filled and how?????
11 April 2014
As per the section 44AD all the business holders except those who are not liable for section 44AB tax audit or who are liable to offer their income u/s 44AE, Commission or brokerage agents,professionals are liable to offer their income under this section.
According to section 44AD required to minimum profit of 8% on gross turnover/receipts and those who offering their income u/s 44AD is not required to maintain regular books of accounts.
So in your case you friend is taxi driver means he is transport operator but other than goods transporter(meas passenger transporter), so section 44AE is not applicable to him and as his gross receipts is 4-5 lacs only means below section 44AB tax audit limit means not liable for tax audit so you shall liable to offer his income u/s 44AD.
Thus he liable to offer income u/s 44AD he need not to maintain regular books of accounts, so with out maintaining of regular books of accounts your friend can file his return of income in ITR form -4S.
The 4-5 lacs is his gross receipts on this gross receipts offer minimum of 8% of profit(at his option he can voluntary offer higher income) and file ITR-4S and claim TDS refund.
Yes, he can file ITR without maintaining books of accounts.
He has to file ITR-4.
There are a few details of income, expenditure and assets, liabilities to be filled if books of accounts are not maintained, there are specific columns in the ITR for this.
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