CAN A WORK CONTRACTOR (PAYING SERVICE TAX & VAT BOTH) file his return u/s 44 AD ??? (T/o 20 lacs p.a.)
12 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183881 Points)
Replied 24 October 2016
What is the nature of Work contract? Usually it can be assessed u/s. 44AD.
Aditya Sharma
(finance advisory)
(377 Points)
Replied 24 October 2016
thank you for the reply....
The work includes fabrication , erection , industial pipes/ tubes/ valves/pumps fittings.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183881 Points)
Replied 24 October 2016
Yes, it can be taken as eligible business u/s. 44AD, provided the contractor is eligible person i.e individual, HUF or firm.
FCA surbhi jain
(FCA)
(997 Points)
Replied 24 October 2016
I agree with dhiraj lal ji. As business specification given by aditya ji, this comes under eligible business under sec 44AD..be it a individual/ HUF/ firm.
Aditya Sharma
(finance advisory)
(377 Points)
Replied 24 October 2016
actually fact of the case is: the assessee has been filing the ITR - 4 with audit report .
but with downfall in business he stopped filing ITR .
Now we wish to file the ITR of A.Y. 15-16 and 16- 17 as belated return u/s 44 AD ( turnover less than 20 lacs p.a.)
is it advisable??
but with downfall in business he stopped filing ITR .
Now we wish to file the ITR of A.Y. 15-16 and 16- 17 as belated return u/s 44 AD ( turnover less than 20 lacs p.a.)
is it advisable??
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183881 Points)
Replied 24 October 2016
Unless, any enquiry received from department, no problem seen. Mostly it would be nil tax return.
Naresh Kansala
(Visit www.nkansala.in for more article)
(1425 Points)
Replied 25 October 2016
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Manoj Dadhich
(2 Points)
Replied 10 August 2017
SIR , ONE OF MY CLIENT IS CARRING ON LOCAL AUTHORITY WORK CONTRACT SINCE 2011 . LOCAL AUTHORTY ALSO DEDUCT TDS ON CONTRATCT AMOUNT , CONTRACT AMOUNT 30-40 LAKHS..... I WANT TO KNOW WHETHER I FILE ITR 44AD OR NOT .. AND ALSO TELL ME WHEATHER HE IS LIABLE TO GET REGISTRATION UNDER SERVICE TAX AND VAT
sachin jadhav
(CA)
(85 Points)
Replied 22 August 2018
This Section 44AD Applicable A.Y 2018-19 Contractor as Or Not ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183881 Points)
Replied 22 August 2018
Yes, (unless opted out in preceeding year)
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