Hello Sir,
Sir agar koi person rent pay karta hai toh ITR-4 me kaha show kiya jayega i mean kaha per dikhaya jayega.
9 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 03 April 2021
Rent paid is indirect expenses
sabyasachi mukherjee
(27543 Points)
Replied 03 April 2021
Payment of rent and itr has no connection..
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 03 April 2021
If you are going to file ITR4, then you probably may be availing benefits of presumption income u/s 44AD or 44ADA, in which case a flat rate on turnover/receipts, as applicable, will be considered as profit. Rent (business/profession related) expenses cannot be separately declared in this case.
sabyasachi mukherjee
(27543 Points)
Replied 03 April 2021
No the querist has not mentioned anything about rent, expenses and whatever I should say.
Nature of assesse.
Disclosure of rent paid is part and parcel of business expenses.
It's an allowable business expense.
So it doesn't mean one has to file itr 4 for filing return of income.
Nature of assesse.
Disclosure of rent paid is part and parcel of business expenses.
It's an allowable business expense.
So it doesn't mean one has to file itr 4 for filing return of income.
Kapadia Pravin
(17259 Points)
Replied 03 April 2021
For calculation sake, consider rent payment as expense. under 44AD it is 6/8 % or actual whichever is more
sabyasachi mukherjee
(27543 Points)
Replied 03 April 2021
Vague answer
Sec 44AD HAS SOME LIMITATIONS.
Sec 44AD HAS SOME LIMITATIONS.
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