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Income tax

Anu Verma (Sr.Consultant) (87 Points)

27 June 2017

Hi, One of my client taking salary form Pvt Ltd company also running manpower supply business. Point-1 What form should be file.? Ponit-2 Can he file ITR under section 44ADA or not applicable. Point-3. Should I show the salary bank account transactions/balance in balance sheet.

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178001 Points)
Replied 27 June 2017

1. ITR 4 or ITR 3

2. Business income can be asessed u/s. 44AD

3. Not necessary in ITR4, but some final figures.....

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Anu Verma (Sr.Consultant) (87 Points)
Replied 27 June 2017

Hi Dhiraj Lal Ji,

I am filling the ITR 4 on gross receipts bassis let suppose total receipts is 25 lakh and taxable income will be 2 lakh.

and also total CTC is 6 lakh . can I deduct HRA, Conye allowane , Medical, etc allownace. If yes than taxable income would be show in what category( income form other sources, ) or would be merge under sec 44ad.

Thanks in advance.