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treatment of professional rcpt by working in other clinic before opening own clinic in itr 4

priyatambika ( ca final student) (323 Points)

31 August 2018

how to show professional rcpt for 6 months working in other clinic before starting own clinic in itr 4..
coz itr 4 is using for filling the return of own clinic..?????

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9 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (183108 Points)
Replied 31 August 2018

Whether any TDS deducted u/s. 194J, for the professional services???

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priyatambika ( ca final student) (323 Points)
Replied 31 August 2018

No sir...there is no tds deducted on it .., but it is a kind of professional rcpt received by working in others private dental clinic ... and i want to know that where should i show it in itr 4 bcoz in the column of sec 44ADA , i think only those items to be shown which are liable to get 50% profit i.e 50% exp....??

rama krishnan (12244 Points)
Replied 01 September 2018

you can avail both 44AD and 44ADA i.e. for own clinic and professional receipt respectively

priyatambika ( ca final student) (323 Points)
Replied 01 September 2018

can you please by furcate properly that what income will be shown in 44ad and what income in 44ada???

it meas own clinic income in 44ad ?????

rama krishnan (12244 Points)
Replied 01 September 2018

yes receipts from other Pvt clinics may be shown under 44ada and own clinic receipts, if less than 2 crores may be shown under 44ad

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priyatambika ( ca final student) (323 Points)
Replied 01 September 2018

@ rama krishnan why are you using MAY BE...

rama krishnan (12244 Points)
Replied 01 September 2018

it's the option of assessee to choose 44ad/ADA or normal provisions of taxation. if shall be is used then it'll imply that only those options can be exercised and nothing else..

priyatambika ( ca final student) (323 Points)
Replied 01 September 2018

so.. what should i do ? to show the professional rcpt from other clinic in 44ada and income from own clinic in 44ad??? or any

thing else ???

rama krishnan (12244 Points)
Replied 01 September 2018

@ priya madam... you have option to choose 44ad/44ada or normal provisions, whichever is beneficial to you. if you go for normal provisions, you are required to maintain books and audit the same