anand (accountant) (96 Points)
24 April 2017
Mahesh Babu
(CA Final)
(618 Points)
Replied 24 April 2017
Show that income in your ITR and file the return.
anand
(accountant)
(96 Points)
Replied 24 April 2017
& 124000/- deposited during Demonetisation but this is my cash against cash salary & my saving income (cash salary already computed in income)
this amount show or not
Mahesh Babu
(CA Final)
(618 Points)
Replied 24 April 2017
As such income deposited by you in Banks during the demonetisation period was related to your earlier savings income was NOT form part of the current year total income.
You declare such income in IT e-filing website under Cash transactions.
Sumeet
(CA)
(537 Points)
Replied 24 April 2017
Since you have Salary income as well as Business income you cannot file ITR 1 for AY 2017-18. You will have to file ITR 3 or ITR 4. Also in new ITR forms for AY 2017-18 you have to disclose total cash deposited during demonetisation (From 8th Nov to 30th December) if deposits were exceeding 2 lakhs. Although you do not need to mention source of this cash deposited in your return for now.
anand
(accountant)
(96 Points)
Replied 24 April 2017
so,
Rs. 113000/- i have compute under INCOME FROM OTHER SOURCES & Rs. 124000/- in ITR 1 (cash deposit During during Demonetisation from 09.11.2016 to 31.12.2016 >200000/-) column , am i right sir
anand
(accountant)
(96 Points)
Replied 24 April 2017
I AM A SALIED EMPLOYEE & TUTION INCOME RS. 113000 IS MY PART TIME INCOME , THAT IS NOT MY BUSINESS INCOME . IN THAT CASE I CAN FILE ITR -1 OR NOT
PLS REPLY
anand
(accountant)
(96 Points)
Replied 24 April 2017
I AM A SALIED EMPLOYEE & TUTION INCOME RS. 113000 IS MY PART TIME INCOME , THAT IS NOT MY BUSINESS INCOME . IN THAT CASE I CAN FILE ITR -1 OR NOT PLS REPLY
Sumeet
(CA)
(537 Points)
Replied 24 April 2017
Yes, you can file ITR 1 for Salary & other source income
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