section 44AD and ITR

This query is : Open

prahlad tanwani (Querist)
Follow

15 June 2011 if my commission income is only Rs. 10,000 and TDS Rs. 1,000 has been deducted by company.now for refund purpose i have to file my return of income.what ITR form should i file whether regular ITR4 or ITR4s.in this scenario what figure will be considerd as my turnover.if my turnover is considered Rs. 10,000 then can i show all this amount (100% instead of 8% as described in 44AD) as my total income while i have no any expenses to be deducted from this gross profit/receipts,and there is no any other income at all.

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
Follow

15 June 2011 You may show this income as Income from other source and file ITR2.

prahlad tanwani

prahlad tanwani (Querist)
Follow

15 June 2011 my nature of business/profession falls in code 0301 as a general commission agent.i receive commission and not interest.then how can i go for ITR2.i declare my presumptive income Rs 10,000 on the basis of my annual gross receipt of Rs 10,000. then why souldn't i file ITR4s?---pl sir, make it clear. pl ref https://www.caclubindia.com/experts/for-commission-income-which-form-i-use-itr-4-or-sugam-itr4s--672200.asp

Upgrade to CAclubindia Pro. Subscribe Now!