Itr
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2014
I have worked a construction co. as company payroll basis since 28th Feb'2014, I have resigned from the company and I have jointed one company on 3rd March'14 as consultant against purchase order basis.Previous company has provided me Form 16 (From April'13 to Feb'14) and current company has provided me Form 16A.(Only March'14) Please advise me which one I will select the ITR for my return. (ITR 1,or ITR 4) Please reply me.
I have worked a construction co. as company payroll basis since 28th Feb'2014, I have resigned from the company and I have jointed one company on 3rd March'14 as consultant against purchase order basis.Previous company has provided me Form 16 (From April'13 to Feb'14) and current company has provided me Form 16A.(Only March'14) Please advise me which one I will select the ITR for my return. (ITR 1,or ITR 4) Please reply me.
28 July 2014
The income from consultancy is taxable under the head income from business or profession.
So you will have to file either ITR 4 or ITR 4S depending on the nature of consultancy.
So you will have to file either ITR 4 or ITR 4S depending on the nature of consultancy.
28 July 2014
Since you have also earned Professional Income you need to file ITR4.
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2014
Thanks for your reply.
I understand that it is suitable of my case to file return in ITR4S,because I am having Form-16 and also Form-16A (Form 16 has issued to me by previous co.where I was working as company permanent employee from (1st April'13 to 28th Feb'14). I have been working as accountant on contract employee from 2nd March'14 I have raised a bill to my company in every month. They have been deducted TDS @ 10%. So, company has issued 16A for the month of March'14 (F.Y2013-14) Please advise me,ITR4S is suitable for me.
I understand that it is suitable of my case to file return in ITR4S,because I am having Form-16 and also Form-16A (Form 16 has issued to me by previous co.where I was working as company permanent employee from (1st April'13 to 28th Feb'14). I have been working as accountant on contract employee from 2nd March'14 I have raised a bill to my company in every month. They have been deducted TDS @ 10%. So, company has issued 16A for the month of March'14 (F.Y2013-14) Please advise me,ITR4S is suitable for me.
29 July 2014
No. ITR4 should be filed. ITR4S not applicable for professionals. As Section 44AD specifically mentions the word business, therefore section cannot be applied in case of professionals.
09 August 2014
Since TDS has been deducted @ 10% it must be u/s 194J (TDS on professional)
In that case you have to file ITR 4, because PROFESSIONALS CANNOT file ITR 4S.
In that case you have to file ITR 4, because PROFESSIONALS CANNOT file ITR 4S.
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