Sec 44ad

218 views 3 replies
Sir, My father is a vendor enlisted supplier in a company. He has received his payment after deducting TDS from company by RTGS/NEFT and has got TDS certificate from 6-7 years. No refund claim till now. Now he want to show his income as presumptive basis (sec 44AD) and will make a IT file for A.Y 2017-18(F.Y 2016-17) and will claim TDS also for this F.Y 2016-17. Now my question is that if he will make his IT file now then will department ask for filling previous year from when his TDS deducted? Now my father is a Senior Citizen. Please guide me properly anyone.
Replies (3)

For earlier years your father must file the Income Tax Return if his total income exceeds the maximum amount not taxable in the respecitve years.The IT Department after reviewing the TDS dedution may issue notices.our clients have got such notices

 

Dear Nagarajan Ji,

                         In those previous year my father's total income below taxable limit although TDS deducted by company. So, in this regards if he will file only current A.Y (2017-18) return then any problem will arise from dept?

Pls clarify me.

since Tax has been deducted and there is  no taxable income you file IT retuns for earlier year subject to time limit and claim refund. if you donot need refund you need not file and there wont be any problem,. if at all IT dept  ask you file the ITR for ealier years you have to file


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register