Auto Driver Income

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This discussion clarifies the Income Tax Return (ITR) form requirements for auto-rickshaw drivers seeking loans. It confirms that ITR 4 is generally suitable for business income under presumptive taxation scheme 44AD. The advice also clarifies that while 44AD allows declaring income above the presumptive 8% of gross receipts, 44ADA is specifically for professional income.

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(Querist)
25 August 2020 Sirs / Madam

Please clarify the following

Person is having auto rikshaw
In order to get loan he needs to file IT
Which ITR form needs to file
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 August 2020 File ITR 4 treating it as business income with 44AD.
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G SRINIVASAN

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G SRINIVASAN (Querist)
25 August 2020 Sir

ITR 4 under 44Ad or 44 ada which column we need to submit
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 August 2020 44AD only, 44ADA for professional income.
You can file ITR 3 without 44AD to show more income.
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G SRINIVASAN

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G SRINIVASAN (Querist)
25 August 2020 Sir

In 44AD we can show income maximum 8% of gross receipts only or more
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 August 2020 You can show more income no problem.
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