Refund last year a.y.2014-15

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 August 2015 MY CLINT RUN THE BUSINESS F Y 13-14 HE NOT FILED RETURN. AND HE TAX DEDUCTED RS.14000 A.Y.14-15 HE CAN CLAIM REFUND? CAN I FILED THE RETURN U/S 44AD. HE IS BUSINESS TAKE CONTRACT TO BUILDER HE IS LIABLE FOR SERVICE TAX OR NOT?

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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22 August 2015 Yes, Income tax for AY 2014-15 & 2015-16 i.e. Fy.2013-14 & 2014-15 can be filed, if assessee is contractor having less than 1 crore business than you can file u/s 44AD declare 8% business Income. tds can be claimed against the declared Income.

Service Tax act/Rules has provided exemption to small scale service provider from service tax up to aggregate value of taxable services provided of 10 lakh in a Financial Year . This exemption was available before 01.07.2012 and continued even after 01.07.2012 in negative list regime with few changes w.e.f 01.04.2012.

Treshold limit is 9 lakhs for Registering Service tax.