Dear All,
fy 2014-15 ay 2015-16
I have income from proprietory business 3 lac
Income from Long Term Capital Gain 34 Lac (on which tax has been paid in full).
ITR 4 is showing your income exceeds 25 Lakh and Schedule AL has to be filled.
My query is why I need to fill Schedule AL when my income is one time on which tax is paid at special rate and not regular. What if i do not fill in Schedule AL
Thanks in advance
regards
puneet jain
Schd 'AL' is to be filled because your income exceeds Rs. 25 lacs (Rs. 34 Lacs + 3 Lacs) during the year. It doesn't matter whether this is one time income or anything else but your income exceeds Rs. 25 Lacs during the year.
If you leave this schd unfilled, the return would not get validated and perhaps XML file will not be generated and if generated, it will show error while uploading your return.
CAclubindia
