26 February 2014
I have a receipts of rs 50 lac for providing services to saree manufacture and on that amount of 50lac, tds u/s 94C has been deducted @1%, comes to 50000.. now my question is which ITR form number should i use to get the maximum refund provided books of accounts are not maintained..I am thinking of using form ITR 4S i.e showing income 8% of receipts..IS my contention true?? or should i use other form no to claim maximum refund.. PLEASE GIVE UR CORRECT AND VALUABLE REPLY
27 February 2014
For Filing Return in Form ITR 4S, Assessee should have a business income. In case assessee is providing services he should file return in Form ITR 4.
27 February 2014
For Filing Return in Form ITR 4S, Assessee should have a business income. In case assessee is providing services he should file return in Form ITR 4.
27 February 2014
Yes...but i m providing service and deducted tds is u/s 94c for contractual services...so apart from filing itr 4s what should i do to claim maximum refund?
27 February 2014
Yes...but i m providing service and deducted tds is u/s 94c for contractual services...so apart from filing itr 4s what should i do to claim maximum refund?
You may either maintain books of accounts and file your return accordingly or may avail benefit of section 44AD and file return declaring 8% or more profit on your turnover.
The point is to report your income accurately and not to claim maximum refund.
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