29 March 2016
can I use ITR 4s for a client who has income from commission and brokerage. he also earns interest on FD. gross total income is below taxable limit.
does 8% limit can be applied in this case.
30 March 2016
As per my view - - - Following persons are not eligible to avail any benefit under section 44AD 1. A person carrying on profession as referred to in section 44AA(1) 2. A person earning Income in the nature of commission and Brokerage 3. A person carrying on agency business 4. A person who is in the business of plying, hiring or leasing goods carriages. Therefore you can not file ITR 4S.
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