Which itr form shoud be filled by vakeel (advocates) ?

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Narendra JR (Querist)

25 December 2016 WHICH ITR FORM SHOUD BE FILLED BY VAKEEL (ADVOCATES) IN AY 15-16 &16-17. I THINK ITR 4 SHOULD BE FILLED BUT IF ITR 4 IS REQUIRED TO BE FILLED FULL BALANCESHEET NEEDS TO BE FILLED. CAN I FILE ITR 4S OR ITR 2 ?

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KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

25 December 2016 If Advocate is receiving professional fees than they have to file ITR 4, if they receive in the Form of salary than they to file ITR -1.

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Advocate

Advocate (Expert)

27 January 2017 ITR 4S ....if Vakil showed its professional income as carrying profession and claiming expenses for carrying out profession. Suppose you have 5 lakhs professional income than via ITR 4S you can claim expenses even 4 lakhs and on balance Rs 1 lakh income no tax and claim full TDs refund.

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Advocate

Advocate (Expert)

27 January 2017 New section also come section 44ADA for professional... via which 50% of income shall be taxable and remaining 50% will deemed to be allowed as expenses.

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