44 ad in itr 4

Page no : 2

RAM KUMAR GOEL (PROPRIETOR) (87 Points)
Replied 29 November 2016

Income from winning of lotteries on internet will not form part of 44AD and will be taxed separately under Income from other sources. If this is also correct you may file the same return after checking thoroughly and file it in response to section 139(9) some times notice is wrongly given.

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Hitesh Khanna (Accounting & Finance Taxation Company Law Audit ) (839 Points)
Replied 29 November 2016

You have Income From Tuitions.
Do you hold any professional degree which is specifically made to recognise people who are into the teaching profession. The point is what made you choose ITR 4..
Kindly reply

Gaurav (Business) (58 Points)
Replied 29 November 2016

First of all let me give my thanks to Amit Aggarwal and RAM KUMAR GOEL for their valuable inputs.

@ Hitesh Khanna
I have B.Tech. degree but no professional teaching degree. And I only teach students till 8th class. So I fill out the home tuitions as a business. I also filed same thing previous year and it was accepted. (In previous year I only showed Home tuition and not the retail business)

Gaurav (Business) (58 Points)
Replied 29 November 2016

Also I would like to know if I could change the shedule BP in revised return. Because the notice specifically says not to change any other item than Balance Sheet and P/L or the return is liable to be invalidated.

senthil rajan (2 Points)
Replied 05 February 2017

Gaurav ji, I am also facing the same issue as faced by you. Literally worried how to handle this as I noticed today which is the last day to submit the response online. Kindly let me know your email id.. rajansioskills @ gmail.com

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Venkatesh Dangeti (CA Final) (885 Points)
Replied 05 February 2017

thanks gaurav ji,

I just came know that there is 35 i

Gaurav (Business) (58 Points)
Replied 05 February 2017

senthil rajan ji,
What I did ws enter the correct details in 35i of BP (Profit from 44 AD). And aslo you just have to put in some cash in hand or any or all of the values of Part B of BS and PL. All the values must NOT be zero. I think their software is designed to take all zero values as not filled. So I just put in some cash in hand and my ITR got processed.