Income from presumptive business

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2015 dearsir

if a person having income from cyber cafe, printing , scanning and commission received from money transfer agency .
Does gross receipts includes commission received from money transfer while calculating income under sec 44ad?
secondly can expenditure made in his wedding be deducted from capital under drawings?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 July 2015 you cant use 44AD....once there is commission income, the assessee is wholly taken out of 44AD's ambit..

with regards wedding expense, yes it will shown as a drawing

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Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2015 Thanks. so In this case regular itr4 is used.
For the time of filing of returns regular itr4 was used. Second year itr4s was used ,as commission income was less.
So now regular itr 4 can be used to file returns? please inform me thanks.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 July 2015 you should use ITR-4 only when there is commission income..

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