CA Bijay Shrestha (Never Give up....No matter what....) (858 Points)
04 April 2017Dear Experts,
In ITR-4 (presumtive taxation) for AY 2017-18, there are two columns for Total Income from Business u/s 44AD, i.e. 6% of Receipts from Digital mode and 8% of Receipts from other mode.
Now if the assessee wants to declare income more than that (say 25% of Total Receipts), How to show this in ITR-4 ?
Please suggest.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177949 Points)
Replied 04 April 2017
"Now if the assessee wants to declare income more than that (say 25% of Total Receipts), How to show this in ITR-4?"
| E2 | Presumptive income under section 44AD | ||||||
| a. | 6% of E1a | =or > 6% | |||||
| b. | 8% of E1b | = or > 8% | |||||
| c. | Total (a + b) | ||||||
CA Bijay Shrestha
(Never Give up....No matter what....)
(858 Points)
Replied 04 April 2017
Sir, there is no mentioning of =or > 6% and = or > 8% in excel utility and PDF of ITR-4
Ravi Kumar
(Accountant)
(22 Points)
Replied 30 July 2018
Can i declare both cash and bank receipt in 8% presumptive income scheme
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177949 Points)
Replied 30 July 2018
Yes, or even any higher percentage/s........... cap is only for minimum declaration....
CAclubindia
