Itr form number to be used

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RAMESH (Querist)
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26 February 2014 I have a receipts of rs 50 lac for providing services to saree manufacture and on that amount of 50lac, tds u/s 94C has been deducted @1%, comes to 50000..
now my question is which ITR form number should i use to get the maximum refund provided books of accounts are not maintained..I am thinking of using form ITR 4S i.e showing income 8% of receipts..IS my contention true?? or should i use other form no to claim maximum refund..
PLEASE GIVE UR CORRECT AND VALUABLE REPLY

Pratik

Pratik (Expert)
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27 February 2014 For Filing Return in Form ITR 4S, Assessee should have a business income. In case assessee is providing services he should file return in Form ITR 4.

Pratik

Pratik (Expert)
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27 February 2014 For Filing Return in Form ITR 4S, Assessee should have a business income. In case assessee is providing services he should file return in Form ITR 4.

RAMESH

RAMESH (Querist)
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27 February 2014 How can it be a service....
Provide valuable answer with example plx

Pratik

Pratik (Expert)
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27 February 2014 you wrote income from providing services. please explain nature of work performed

RAMESH

RAMESH (Querist)
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27 February 2014 Attaching jari and boutique in sarees...

Pratik

Pratik (Expert)
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27 February 2014 This has to be a job work and not sale. Therefore, ITR in Form 4S cannot be filed

RAMESH

RAMESH (Querist)
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27 February 2014 Yes its like job work...but since no proper accounts maintained so what should i do to claim refund?

RAMESH

RAMESH (Querist)
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27 February 2014 Provide valuable rly experts

Pratik

Pratik (Expert)
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27 February 2014 I think you may file in ITR 4S. I have re read the section, it only restricts profession, commission, brokerage and agency business.

RAMESH

RAMESH (Querist)
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27 February 2014 Yes...but i m providing service and deducted tds is u/s 94c for contractual services...so apart from filing itr 4s what should i do to claim maximum refund?

RAMESH

RAMESH (Querist)
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27 February 2014 Yes...but i m providing service and deducted tds is u/s 94c for contractual services...so apart from filing itr 4s what should i do to claim maximum refund?

Pratik

Pratik (Expert)
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27 February 2014 Mr. Atit,

You may either maintain books of accounts and file your return accordingly or may avail benefit of section 44AD and file return declaring 8% or more profit on your turnover.

The point is to report your income accurately and not to claim maximum refund.

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