Can we file ITR4S as presumptive income catagory of income from sunari labour work ? i thik this is service sector catagory 0714 in ITR. GUIDE ME.......
2 Replies
CA PARAS BAFNA
(Practising CA )
(33428 Points)
Replied 07 November 2011
Yes Rupesh ji, Sunari, Suthari, Luhari ... every type of work is treated as eligible business.
The only business which is not eligible for Section 44AD is eligible U/s 44AE and that is the busines of Leasing, hiring and plying of goods carriages by its owners owning less than 10 vehicles .
In case the busines is of Leasing, hiring and plying goods carriages is done by a person , who is not owning any goods carriages then again it becomes an eligible business U/s 44AD.
As such , Section 44AD can be said as a presumptive income section for all types of businesses run by eligible assessees -Individuals, HUFs and Firms. Only Turnover/ Gross Receipts limit of Rs. 60.00 lacs has to be kept in mind.
rupesh gupta
(tax advocate)
(103 Points)
Replied 08 November 2011
thanx a lot bafnaji.this is a greatful knowledge for us.
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