Hi, I'm an individual software developer working for overseas clients. My annual receipts this financial year(2018-19) may be around 60 lakhs, but definitely above 50 lakhs. Thus I can't use 44ADA, which I have been using since last 2 years. My expenses related to profession are not more than 3-4 lakhs a year.

My question is, can I incorporate a small company, and use 44AD. The business is software development and I work independently(not under any company). I can hire an employee and deduct TDS if need be to strengthen the case for 44AD.

Is this possible? Can software work come under business rather than a profession.

Thanks.

Can a partnership firm file his Income tax Return using ITR 4 for AY 2018-19 (U/S.44AD) ?

I had filed original ITR by August 31', 2018.. If I file a revised return, will I have to pay late fees?

Name : V.K. Sahni
Email : ervinodsahni@gmail.com
Phone : 9891779079

Dear Sir,
My brother has Indian passport and a NRO bank account. He wants to sell his flat in Delhi (in his own name and allotments by Govt. of India). He is RNOR by status. At what rate TDS will be deducted from the payment to him by the buyer?
He will also like to file Income Tax return and claim refund after calculation of capital gain. We will need your help and services for the same as well.

Dear,

I am a fruit dealer, I received all my sale receipt through cheque. what i does , i withdraw all my sale receipt through bank through a bearer cheque in the name of my brother and pay the cash to agriculturist.

whether i have to show any amount remaining in the name of my brother in my balance sheet.

Dear Professionals,
My father works in PSU, in the year 2015-16 he received an arrear salary of around Rs 400000. In his form 16, relief u/s 89 was claimed and accordingly tax was deducted by the employer and tax payable by him at the time of filing the return was nil. However I received an intimation U/s 143, wherein the relief was denied and a demand of around Rs 35000 was raised. When inquired I came to know I was required to file form 10e along with the return. My query is can I file 10E for A.y 2016-17 now. If yes will the demand raised by the dept will be nullified and the process of filing it.
Kindly revert back as soon as possible

I returned from US on July 17th after staying there since Oct 2011. That makes my stay for US Financial year as 197. As India follows Apr to March financial calendar, i will also satisfy 186 days plus rule for India. My US income tax has already been withhold and my company Pay dept. is saying that they will deduct my tax for salary in US in India also. I should be a RNOR i.e. nonresident but ordinarily resident and earning in US should not be Taxed. Please let me know what are my options.

I work for TCS which is Indian Company and also registered and Traded in USA.

Hello,

I am posting a question here on behalf of my friend.

My friend has a 2 year old private ltd company, with annual turnover less than 25,000 Rs/-.

His CA and Auditor is charging 23,000 Rs/- per year for annual compliance, ROC and ITR. All of documents and financial data is maintained by my friend’s company and not CA.

Is 23,000 Rs/- worth? Is there any other alternative to completing annual compliance, ROC and ITR for less charges?

Any suggestions, questions, comments are most welcome.

Regards,

my annual itr is 18 lakhs .can i buy house of 35 lakhs .will i get income tax notice for that .

If my business income is more than Rs.2,50,000/- during AY 2018-19 and I have to declare my income U/S.44AD. Am I liable to maintain books of accounts and fill ITR 3 ?
Am I also required to fill Balance Sheet and Profit and Loss a/c in ITR 3 ?