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Sec 44ad

08 April 2017

Sir, My father is a vendor enlisted supplier in a company. He has received his payment after deducting TDS from company by RTGS/NEFT and has got TDS certificate from 6-7 years. No refund claim till now. Now he want to show his income as presumptive basis (sec 44AD) and will make a IT file for A.Y 2017-18(F.Y 2016-17) and will claim TDS also for this F.Y 2016-17. Now my question is that if he will make his IT file now then will department ask for filling previous year from when his TDS deducted? Now my father is a Senior Citizen. Please guide me properly anyone.

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3 Replies

A. NAGARAJAN (CHARTERED ACCOUNTANTS) (66 Points)
Replied 08 April 2017

For earlier years your father must file the Income Tax Return if his total income exceeds the maximum amount not taxable in the respecitve years.The IT Department after reviewing the TDS dedution may issue notices.our clients have got such notices

Dipankar Chakraborty (407 Points)
Replied 09 April 2017

Dear Nagarajan Ji,

In those previous year my father's total income below taxable limit although TDS deducted by company. So, in this regards if he will file only current A.Y (2017-18) return then any problem will arise from dept?

Pls clarify me.

A. NAGARAJAN (CHARTERED ACCOUNTANTS) (66 Points)
Replied 10 April 2017

since Tax has been deducted and there is no taxable income you file IT retuns for earlier year subject to time limit and claim refund. if you donot need refund you need not file and there wont be any problem,. if at all IT dept ask you file the ITR for ealier years you have to file