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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2013
Dear Sir,
An individual who was salaried in a company now got retired & reinstated in the same company under the head contract i.e the tds is deducted under sec 194c.I have a doubt that can we apply sec 44AD i.e presumptive basis.I want to know whether we can calculate under this section or if ITR IV is applicable can i file his return with nil balance sheet. In ITR IV according to my knowledge the p&l account should be filled than only it is reflected in computation i.e profit as per P&l.It is not possible to fill directly in computation Profit as per P&L.
So please help me to know whether i can file as per 44AD or Can i File a nil balance sheet
Thank you.
An individual who was salaried in a company now got retired & reinstated in the same company under the head contract i.e the tds is deducted under sec 194c.I have a doubt that can we apply sec 44AD i.e presumptive basis.I want to know whether we can calculate under this section or if ITR IV is applicable can i file his return with nil balance sheet. In ITR IV according to my knowledge the p&l account should be filled than only it is reflected in computation i.e profit as per P&l.It is not possible to fill directly in computation Profit as per P&L.
So please help me to know whether i can file as per 44AD or Can i File a nil balance sheet
Thank you.
CMA Ramesh Krishnan
(Expert)
18 July 2013
yes., you can claim sec.44AD and file ITR-4S. before that check your business eligible under sec.44AD
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