Can anybady help me for filing return?
a person is production manager and he receipt amount approx 117000 and tds deduct on this with the rate of 10.3%. what will you suggest for filing of return in which form and which type of expenses can show in returns? (A.Y.2009-10)
Its urgent.......
Dear Vipin,
The rate of deduction & nature of work suggests that the deduction is made u/s 194 J, Professionals.
Therefore Income will fall under PGBP & I think ITR - IV will be required..
Regarding expenses, whatever legitimate expenses this person has incurred in earning this income can be deducted, like conveyance, telephone charges, etc
Mr. Vipin kumar,
I do also think it will fall u/s 194 J - Professional payment category
Income from Profession / business ...Therefore, ITR 4 is the return and legitimate expenses incurred are allowed....
itr 4 would be required to filled, u can expenses directly or indirectly linked for earning of this prof fees like conveyance, books, laboratory tests , tel exp, etc depend upon case to case
thnx to all....
but clarify me one thing also that could he also fill his return in ITR2?
i need ur valuable answer.
Dear Friends,
The ITO has rejected ITR 4 in this case.
CAclubindia
