Nisha Yadav (Accounts exe) (455 Points)
30 September 2015Dear All,
I am filling ITR 4. I have two query :
1) In P & L schedule - no account case - "What is cash in hand " - is it bank balance as on 31st march or only cash or both.
2) Part B- TTI - Details of Bank account - Should i fill proprietorship current account details also ?
Miss Rinkal
(Student)
(1309 Points)
Replied 30 September 2015
Only cash balance is to be entered and that too held in proprietorship business.
With regards to bank account details, all the bank accounts, whether it is savings or current. All the active a/cs are to be shown
Nisha Yadav
(Accounts exe)
(455 Points)
Replied 30 September 2015
but current account name is different.
Induivual name - ABC
Current acc*nt Name - XYZ
BHARAT DIAMOPND BOURSE
(21 Points)
Replied 30 September 2015
i am filling salary return total salary rec 25000 per month 25000*12=300000
tax reb.200000 total income 100000 tax 10000 right
Mayank
(Professional Accountant)
(47 Points)
Replied 30 September 2015
Total Income Limit is 250000 for financial year 2014-15 in 2000 tax rebate u/s 87 if filied your return in time your investment in tax saving Scheme zero tax payment
Miss Rinkal
(Student)
(1309 Points)
Replied 30 September 2015
Miss Rinkal
(Student)
(1309 Points)
Replied 30 September 2015
@ Bharat Diamopnd Bourse:
Your taxable salary is 300000. However if there is any pf deduction, then it will be a deduction allowed u/s 80C. Also if you have made any other tax related investments such as ppf, nsc etc then even that is allowed as deduction reducing your tax liability.
Above all, if you are talking this example wrt fy 2014-15 then basic exemption limit is 250000 and not 200000. Also there is a tax erebate since your taxable total income does not exceed 500000 (presuming salary is the only source of income)
Nisha Yadav
(Accounts exe)
(455 Points)
Replied 30 September 2015
Thank you very much Ms. Rinkal. Finally I have uploaded ITR 4 .
But i did not do e verification .. Is there any time limit for e-verfication
Miss Rinkal
(Student)
(1309 Points)
Replied 30 September 2015
Although there is no time limit prescribed for everification but it is implied that if the assessee is unable to e- verify the return, then the assessee needs to send the physical copy of itrv duly signed within 120 days of the return uploaded to treat the return valid. Hence in that case it can be presumed that you have 120 days to everify from the date of filing itrv from the date of uploading the return
CAclubindia
