Itr

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accountant
87 Points Joined August 2012
any one help me one of my client having income from two truck operating,and two truck he takes on lease and farwarded to company, he give all these four trucks on lease to a company and receive near about Rs 720000 i want to file his itr under itr4s by showing 2trucks *12 month * 19200 per month i.e. 460800 and pay tax on it near about 15000 approx. can i do so
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On 23 July 2014 at 15:03 Report
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Student as well as Self-employed
3710 Points Joined September 2007
what are you planning for rest of two trucks because co. would be paying through cheque. so you must also declare this income.
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On 23 July 2014 at 23:01
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accountant
87 Points Joined August 2012

yes company pay directly to there account, but i only show income under  ITR4S for those trucks which are owned by my client, and the lease truck are not owned by him so its a presumtative income i can show the lower income of rs 5000 per truck . does it affect there case

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On 24 July 2014 at 11:17
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Student as well as Self-employed
3710 Points Joined September 2007
though ownership of truck does not belong to assessee but he is earning by plying such trucks... so it would be better that you show presumptive income from all four trucks.
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On 24 July 2014 at 12:21
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accountant
87 Points Joined August 2012

but for filing return under sec 44AE  the ownership must be necessary or not

whether i can file his return by showing 

4 trucks * rs 9750  * 12 month = rs 460800

and pay the tax

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On 25 July 2014 at 14:45


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