amit (Software Consultant) (103 Points)
29 August 2018Hi,
Kindly help me to know how to file tax return online (which itr form???) if one has income from salary and professional services both together in one year
and also how do we show expenses for professional services and if any max limit for expenses
what is presumptive tax (sec 44 AD/ 44 ADA ..?) and how we can utilize for professional services
thanks
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 29 August 2018
ITR3
Profit from profession shall be 50% or more so show expenses accordingly
Presumptive taxation is that case wherein assessee doesnt maintains proper records and on basis of receipts he claims profit to be 50% or more u/s 44ADA
amit
(Software Consultant)
(103 Points)
Replied 29 August 2018
thanks Ruchika, for quick reponse
kindly also tell me which form i should use for professional as well as salary income???
and is it fine to declare 50% profit directly or has to be specific form for sec 44ADA
SHIRISH S S
(Proprietor)
(1030 Points)
Replied 29 August 2018
you can file ITR-4 sec 44ADA.
For TDS pertaining to salary fill TDSh1
for TDS pertaining to professional receipts fill TDSh2
For prfessional receipts (if less than 50Lks ) take presumptive profits of 50%
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
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