Income from Salary and Professional Service

This query is : Open

Yogesh (Querist)
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07 July 2009 Hi,

I am a employee of company which gives me form 16. Also I have provided some service to private company who has issued me Form 16A and had Deducted TDS under section 203.

I came to know from some of CA club members that I need to use ITR4 for filing return.

Is it require to carry Audit for filling this return. Since this is professional under which section I need to mention the Income.

Also Will there be more tax liability in addition to TDS which was deducted.

Expecting your help for this. Thanks in Advance.

Jitender

Jitender (Expert)
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08 July 2009 yes, it is right that u r required to use itr-4.

if ur receipts are more than 10 lakh in case of specified profession then only audit is required, otherwise not.

sagar

sagar (Expert)
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08 July 2009 First you will have to be sure that are you a professional. i.e are you expert in any professional field? Secondly Service what you are providing to the company?

We have to see if the income is business Income or income from other source.

Rightly you can use ITR-4 without any second thought.

If your gross receipt from the business or profession is not exceeding Rs.10,00,000. No need to keep any books of account.

If it is exceeding Rs.10,00,000/-. Make sure are you a professional? If yes, you have to get your account audited. If you are not a professional, is your gross receipt exceeds rs.40,00,000/-. If so you have to get ur account audited

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CA. Gurdeep Singh Chawla

CA. Gurdeep Singh Chawla (Expert)
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08 July 2009 agree with Mr. Sagar

Yogesh

Yogesh (Querist)
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08 July 2009 This income is technical service income under 194J.

I have also received form 16A which is straight forward. But ITR4 seems to be complex and related more to business in which we have balance sheet and audits.

Since my income is one time income from one of the company to which I have provided technical help which falls under engineering