44 ad for work contractor??

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CAN A WORK CONTRACTOR (PAYING SERVICE TAX & VAT BOTH) file his return u/s 44 AD ???  (T/o 20 lacs p.a.)

Replies (12)

What is the nature of Work contract? Usually it can be assessed u/s. 44AD.

thank you for the reply....

The work includes fabrication , erection , industial pipes/ tubes/ valves/pumps fittings.

Yes, it can be taken as eligible business u/s. 44AD, provided the contractor is eligible person i.e individual, HUF or firm.

THANK YOU VERY MUCH ....!!

You are welcome

I agree with dhiraj lal ji. As business specification given by aditya ji, this comes under eligible business under sec 44AD..be it a individual/ HUF/ firm.

actually fact of the case is: the assessee has been filing the ITR - 4 with audit report .

but with downfall in business he stopped filing ITR .
Now we wish to file the ITR of A.Y. 15-16 and 16- 17 as belated return u/s 44 AD ( turnover less than 20 lacs p.a.)
is it advisable??

Unless, any enquiry received from department, no problem seen. Mostly it would be nil tax return.

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SIR , ONE OF MY CLIENT IS CARRING ON LOCAL AUTHORITY WORK CONTRACT SINCE 2011 . LOCAL AUTHORTY ALSO DEDUCT TDS ON CONTRATCT AMOUNT , CONTRACT AMOUNT 30-40 LAKHS..... I WANT TO KNOW WHETHER I FILE ITR 44AD OR NOT .. AND ALSO TELL ME WHEATHER HE IS LIABLE TO GET REGISTRATION UNDER SERVICE TAX AND VAT

This Section 44AD Applicable A.Y 2018-19 Contractor as Or  Not ?

Yes, (unless opted out in preceeding year)


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