VIPIN KUMAR (Practicing) (309 Points)
27 January 2010Can 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.......
Amir
(Learner)
(4016 Points)
Replied 28 January 2010
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
C.Balaji
(Learner)
(1867 Points)
Replied 28 January 2010
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....
Pragnesh
(AM - Taxation)
(1259 Points)
Replied 28 January 2010
CA Pramod Jain
(manager finance)
(1577 Points)
Replied 28 January 2010
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
VIPIN KUMAR
(Practicing)
(309 Points)
Replied 15 February 2010
thnx to all....
but clarify me one thing also that could he also fill his return in ITR2?
i need ur valuable answer.
VIPIN KUMAR
(Practicing)
(309 Points)
Replied 09 March 2010
Dear Friends,
The ITO has rejected ITR 4 in this case.
CAclubindia
