Can we file itr-4s in this case ?

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This query is : Resolved

CA Abhishek Singh (Querist)

19 October 2012 Hello everyone,

i know that professionals specified under section 44AA are not eligible to opt section 44AD presumtive taxation and file ITR-4S instread of ITR-4.

i need clarification whether following incomes/clients are eligible to opt for sec 44AD assuming that their turnover is less than the limit for tax audit.

1. lic agent ( commission income so cannot opt for 44AD)
2. civil contractor with material ( can opt)
3. civil contractor (only labour)( can opt)
4. estate agents ( no. as per fin act 2011 commission income)
5. tax consultants ( yes)
6. beauty parlour ( yes)
7. interior decorator ( no as per fin act 2011)
8. accountants (yes)

kindly let me know whether i am correct or not ?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

19 October 2012 1,2 & 3 can file ITR-4S, 5,6,7,&8 couldn't file ITR-4S because they are specially identified as professionals.

OM SAI SRI SAI JAI JAI SAI

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

19 October 2012 But i am not sure in the case of 4, But i thinking ITR-4S may be possible.

OM SAI SRI SAI JAI JAI SAI

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

20 October 2012 Presumptive option is not applicable to cases referred in clause 1,2,3,4 . Please refer section 44AD (6) (ii) and (iii).
As per ICAI guidelines 'interior decorators' comes under 'profession', hence presumptive option can't be availed.

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