194 j & 194 c ( urgent pl.)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 August 2015 Dear Experts,

I have done the Professional service (194J) & Contract services (194 (c).

Which ITR can i file the return ?

ITR 4s Ok or not ?

Pl. give the reply.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 August 2015 ITR4S is not for professionals so you need to file ITR4.

Message likes : 1 times

Ishan Shah

Ishan Shah (Expert)
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22 August 2015 Dear Anonymous,

Good day...!

The ITR-4 Form is applicable for individuals or HUFs who have income from proprietary business or are carrying on a profession.

If the requirements of audit are applicable, the due date of filing of return is 30th September. Otherwise, usually the due date of filing of return for non-audit cases is 31st July.

In case the presumptive method of taxation is applicable (Section 44AD and Section 44AE of the Income Tax Act), ITR-4S must be filed.

Since ITR-4S is applicable where gross receipts/turnover is less than Rs 1crore; assesses who are carrying out business or profession under presumptive income as per section 44AD & 44AE of the Income Tax Act but have turnover/gross receipts of more than Rs. 1 crore; will have to file ITR-4.

Thanks,
Regards,
Ishan

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