Income relating account head
This query is : Resolved
RAMAKRISHNA
(Querist)
30 August 2018
Good evening sir, my friend invested in amount marketing , they returned his investment with adding some profits . but they deducted 10% tds on profits under section 194j . please tell me sir how can he show this income under which accounting head sir and in income tax filling return ,can he show in income from other sources
please explain sir
please explain sir
KAVIRAJA ADDANGADI
(Expert)
30 August 2018
Since they have deducted Tds 194J declare professional income file ITR 4
Dhirajlal Rambhia
(Expert)
03 November 2021
File ITR 4 u/s. 44ADA of IT act, with assessement as 50% profit margin; if applicable in your case.
Otherwise file ITR 3 under normal provision, with books of accounts.
Otherwise file ITR 3 under normal provision, with books of accounts.
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