Sandeep Mishra (CA FINAL) (151 Points)
11 July 2009when we hv only form 16A of client .& it is from his first emplyment.he does not hv any source of income. co has employed him on a contract basis. it has deducted tds @ 10.3 %. so, can we claim the full amount of tds as refund without preparing p&l and b/s as his income is mere Rs. 50000/-.
plz suggest me the itr to be used for filing & right procedure for filing the return
Krutesh Patel
(ACA)
(727 Points)
Replied 11 July 2009
Your client should treat it as professional income. In such case appropriate form for return will be ITR 4. In such case it is advisible to make P & L A/c and B/S. But same is not compalsory. So you can show net profit directly
Darshu
(CA)
(1580 Points)
Replied 11 July 2009
Yes........ Full amount of TDS can be claimed without preparing P & L and B/s... You have to just show the same in Statement of total income....
And ITR 4 is to be filled...
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 12 July 2009
ITR 4 to be filed and mention the gross receipts in the column of where books of accounts are not maintained and claim the entire TDS as refund
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
