October 27, 2013



Hi Sir,
I work as a professional for a Aviation company providing them technical services. They pay me as professional fees deducting the 10% tax .My gross income for the year 2012-2013 was ₹ 14,85,000.00 excluding the tax. Due to unawareness and some difficulties  I have not yet filled up the ITR yet.Can somebody kind enough to guide me about the following queries.
·         Can I file the ITR for the year 2012-2013 ?
·         Do I have to get my accounts audited?
·         What are the expenses I can show as professional expenses?
·         How much deductions can I show?
Thanks in advance,
Hi Milan,
Please refer to the point wise solution of your query:
1. Yes you can file your ITR, 31st July was the last date before interest. File your ITR know with the interest amount.
2. You are not required to get your accounts audited till your Gross Receipt  is less than Rs. 25 lakhs. Since your gross receipt is only Rs. 14.85 Lakhs, so no need of accounts getting audited.
3. You are allowed to show deductions of expenses incurred in 2012-13 and only those which are incurred to earn the income i.e. you can show Traveling expense, Telephone expense, Staff Salary, Rent of Office, Printing & Stationery, etc. if any.
4. From deduction, I think you mean 80C deductions. If it means 80C then it is upto Rs. 100000.00 and if means expenses then:
There is no limit to expenses, in some profession it is as high as 70% and in some it is just 10%. Your actual expenses can be claimed in your ITR.

Hope this will solve your query, for further query, please feel free to contact us:
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