Dear Expert,
My Four clients Commssion income all refund case.
i wrongly filed ITR 4S how can solve?
I REVISED TO ITR 4 OR LEAVE IT this case
PLS. URGENT
4 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 30 August 2012
ITR 4S is for business income where adhoc income is declared without maintanance of books of accounts ( ref 44AD)
ITR 4 is for business income ( regular) with regular books of accounts.
CA Abhishek Singh
(practice)
(2106 Points)
Replied 30 August 2012
what did u select in the business code ?
if suppose u have selected "commission" related code then u have to file revised return by filing the same in ITR-4 because your return will not be processed since u have selected wrong form i.e. 4S instead of filing ITR-4.
but suppose if u have selected business code which is elgigble for 44AD then no need to do anything u will get the refund if refund if TDS is for lesser amt. say less than 25000/-.
i have also filed many returns of my clients having commission income but selected business code 0404 which is eligible and got the refund.
note: This is out of my practical experience and may/may not hold true in your case. others opinion are also awaited.
CA Pawan Yadav
(Chartered Accountant )
(167 Points)
Replied 31 August 2012
You should Revised the Return.................
SANTOSH P. NANKANI
(IPCC)
(25 Points)
Replied 05 September 2012
I am Also Confused on this point, My client Has A business of Commission On SAle Of Recharge Vouchers, & co. has deducted t.d.s of rs 43000 as t.d.s on commission. Please suggest which form should be selected to file ITR. & what will be the limit of tax audit in this case
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