Hypothetical example:
*Turnover - 1 Crore
*194J - 10 lakh
*opted for 44AD- therefore income 10 lakh.
*Tax - 117000 on 10 lakhs
forgot to file the ITR for the relevant AY, Now is their any way to claim the refund of 883000?
Can I claim it in the next year by revising TDS return or something else?
10 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 29 January 2023
Yes you can claim it. Inbox for further details.
MPR Sanjay Kumar
(3118 Points)
Replied 30 January 2023
@ Honourable Rashmi Gandhi mam,what is the depreciation rate of percentage for motorbike (bike)?? which depreciation method I should have to do
for instance if I bought a motor bike on 12.6.2017 the cost is RS 45,500 means while I am making for balance sheet 2019 to 2020 31 St March balance sheet which depreciation value I have to show in my BS ???
please I need a calculations
for instance if I bought a motor bike on 12.6.2017 the cost is RS 45,500 means while I am making for balance sheet 2019 to 2020 31 St March balance sheet which depreciation value I have to show in my BS ???
please I need a calculations
sabyasachi mukherjee
(27574 Points)
Replied 30 January 2023
Post actual facts.
You can certainly proceed further datas provided you hv relevant details.
You can certainly proceed further datas provided you hv relevant details.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 30 January 2023
In normal circumstances sec 44AD not eligible, as TDS deducted u/s. 194J !!
sabyasachi mukherjee
(27574 Points)
Replied 30 January 2023
Gross receipts from profession does not exceed Rs.50 lakhs.
shivam bhatia
(231 Points)
Replied 30 January 2023
@ dhirajlal rambhia
agreed with you, let's change it to another section. Let it be the hypothetical example.
agreed with you, let's change it to another section. Let it be the hypothetical example.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 30 January 2023
TDS return cannot be revised if the client has already received your service in current year.
File return after getting the permission from JCIT u/s. 119(2)(b) of IT act.
shivam bhatia
(231 Points)
Replied 30 January 2023
Okay, thank you so much sir.
Is it the only way to claim TDS credit?
Is it the only way to claim TDS credit?
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 30 January 2023
You can claim refund either by way of condonation request as specified by Dhirajlal Sir or you can also show it in current year only if receipts are made in current year .
MPR Sanjay Kumar
(3118 Points)
Replied 30 January 2023
@ honourable Rashmi Gandhi mam,
Mr A purchased land on 3.9.2012 2 cent ,1320 sqft ,price of land is 70,000 .now IAM preparing balance sheet on now 31 March 2020 means
I have to which value balance shown in under fixed assets
plse explain me
Mr A purchased land on 3.9.2012 2 cent ,1320 sqft ,price of land is 70,000 .now IAM preparing balance sheet on now 31 March 2020 means
I have to which value balance shown in under fixed assets
plse explain me
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