Which itr form shoud be filled by vakeel (advocates) ?

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Narendra JR (Querist)
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25 December 2016 WHICH ITR FORM SHOUD BE FILLED BY VAKEEL (ADVOCATES) IN AY 15-16 &16-17. I THINK ITR 4 SHOULD BE FILLED BUT IF ITR 4 IS REQUIRED TO BE FILLED FULL BALANCESHEET NEEDS TO BE FILLED. CAN I FILE ITR 4S OR ITR 2 ?

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KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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25 December 2016 If Advocate is receiving professional fees than they have to file ITR 4, if they receive in the Form of salary than they to file ITR -1.

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Advocate

Advocate (Expert)
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27 January 2017 ITR 4S ....if Vakil showed its professional income as carrying profession and claiming expenses for carrying out profession. Suppose you have 5 lakhs professional income than via ITR 4S you can claim expenses even 4 lakhs and on balance Rs 1 lakh income no tax and claim full TDs refund.

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Advocate

Advocate (Expert)
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27 January 2017 New section also come section 44ADA for professional... via which 50% of income shall be taxable and remaining 50% will deemed to be allowed as expenses.

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