Ashwini (SE) (49 Points)
22 February 2018Hi I am an App developer and have following income in AY - 17-18
Adsense : 235000
fd interest : 79000
saving interst : 3091
I used ITR 4 and and choose 711-Sotware development agencies and showed Adesne income under 44ADA so there 50% is considerd for tax. Is that Correct ??
Did I used correct ITR form ?
Please tell me If i fiied wrong return then what I have to do ?
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 22 February 2018
Section 44 ADA ( presumptive income ) of the income tax act 1962 is not applicable for Developers its for professionals like Architectural ,Doctors ,C.A , etc .
You please confirm .
Ashwini
(SE)
(49 Points)
Replied 22 February 2018
Thanks for you quick response . I am a IT professional and building Apps independently . I showed My Income from Apps under 44ADA . If it is wrong , then Please tell me what should I do to correct it ?
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 22 February 2018
I am so sorry that , I could not read word APP (software related ) , I thought its Buidling Devlopers . 44 ADA is applicable for Information & technology .
Ashwini
(SE)
(49 Points)
Replied 22 February 2018
No problem sir , i am already amaze by your quick response .many many thanks for you quick and prompt response and help you provided.
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 22 February 2018
This scheme is applicable only for Individual , HUF, partnership firm ( Not partnership firm LLP)
Ashwini
(SE)
(49 Points)
Replied 22 February 2018
I hope it is applicable for me . I am individual mobile App developer ,
CAclubindia
