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How to d in 44AD

25 December 2024

Dears, my client turnover fy 23-24 is 79,00,000 and incentives received sale on cement is 2,03,000 and TDS deducted. Can I File ITR 4 in 44AD and Where to shows incentives 2,03,000 received in ITR 4 .

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7 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (180200 Points)
Replied 25 December 2024

Whether TDs u/s. 194H was deducted over the incentive received over cement?

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Ataur Rehman (163 Points)
Replied 25 December 2024

Yes sir

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (180200 Points)
Replied 25 December 2024

In that case you are not eligible for sec. 44AD, File ITR 3 with normal assessment.

Ataur Rehman (163 Points)
Replied 25 December 2024

SIR, TDS DEDUCTED U/S 194R ON INCENTIVES

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (180200 Points)
Replied 25 December 2024

In that case declare the business income u/s. 44AD & the incentive income u/h. IFOS.

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Ataur Rehman (163 Points)
Replied 25 December 2024

Sir, company ne cement purchase per 350 se bill karthi hai. phir 30 rupees ka credit note deti hai har bill bill per discount ka. jab hamara client sale kar te same 350 mein 30 rupees less kar ke yani 320 cost plus 10rupees margin rak ke sale kartha hai.
Abhi jo muje problem a rahi hai trading account per. agar ham 350 se purchase dikhayen tu purchase ziya hoga sales kam hoga. kyu ke ham ne 330 sale ki hai. purchase per Jo discount Mila hai. kaise adjust kar ke dikha na Trading account mein . pls help Sir

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (180200 Points)
Replied 25 December 2024

Due to credit note the purchase price can be adjusted to 320/- per bag. So, it will be advisable to declare the income under normal assessment as the margin is less then 6%.