Whether return u/s 44ad can be nil tax return..
This query is : Resolved
GOPAL KUMAR
(Querist)
02 January 2015
One of my client doing trading business of fresh vegetable having gross annual turnover Rs. 2555000/-. so as per 44AD income will be Rs. 204400 and he is resident individual so tax will be NIL after rebate of 78A.
He want to file a return u/s 44AD. Whether he can do so???
He want to file a return u/s 44AD. Whether he can do so???
Ganeshbabu K
(Expert)
02 January 2015
Yes he can do so.No problem in filing ITR-4S as he is doing Eligible business under section 44AD
GOPAL KUMAR
(Querist)
02 January 2015
If the client has a general store or grocery store then also can he do the same.
Ganeshbabu K
(Expert)
02 January 2015
yes.He can do so.Business given by you are eligible under 44AD
GOPAL KUMAR
(Querist)
02 January 2015
thanks for ur advice
CA Nitin K. Varshney
(Expert)
02 January 2015
yes gopal, u can file nil itr- 4s for any business. its not mandatory to pay tax on filing return u/s 44AD/AE.
GOPAL KUMAR
(Querist)
08 January 2015
Thank you nitin sir for ur advice
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