Can we file itr-4s in this case ?

This query is : Resolved

CA Abhishek Singh (Querist)
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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)
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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)
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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)
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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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