Amir
(Learner)
(4016 Points)
Replied 04 August 2010
Hi Dr. Jones
Yes deduction of expenses will be allowed as rules of computation of income are indifferent to the date of filing of return.
100% Sure.......:)
mehul kishnani
(student)
(264 Points)
Replied 04 August 2010
yes surely he can claim the expenditure only which are relevant to his business or profession like petrol etc
Max Payne
(employed)
(2574 Points)
Replied 05 August 2010
Hi, you need to check if he is under a
contract of service or contract for service
Only in the latter case, expenses can be claimed.
Other wise you can only compute the income as per Salary provisions.
ITR-4 is not a conclusive indicator of the status of his employment
ITR-4 may be for some other business he is having... pls check that too.
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 05 August 2010
AGREED WITH LUCIFER.
FURTHER, RETURN FILE AFTER DUE DATE WILL NOT PRECLUDE AN ASSESSEE FROM CLAIMING EXPENSES INCURRED TOWARDS EARNING THOSE INCOME.
ONLY IN THE CASE, IF THE LOSS IS INCURRED, U CANNOT CARRY FORWARD THOSE LOSS IN THE NEXT YEAR IF RETURN IS FILED AFTER DUE DATE.
REGARDS,
MANOJ
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