Mr A worked in company X as an employee for the month of April in P.y.2019-20. He then left the job and joined company Y fr the month of September till 31/3/20 as a contract based employee wherein tds under section 194J is deducted and no other benefit is recieved by him. His income as contractual employee is less than 50 lakhs.
he also has capital gain income.
1. Can Mr A file itr 4 u/s 44ada
2. How to calculate gross receipts in this case?
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Applicability of section 44ada for contract based employees
Replies (6)
What is his Profession ?
which services given on contract base...
which services given on contract base...
Technical service
Can you elobrate which type of technical services, because all technical services are not eligible for Section 44ADA.
if it's eligible, than you can show that income under 44ADA (Gross receipt means total Income Receipt from that contract).
You have to file form ITR 3 as you have a Capital Gain. (But in that form also you can show your professional income under Presumptive Taxation)
if it's eligible, than you can show that income under 44ADA (Gross receipt means total Income Receipt from that contract).
You have to file form ITR 3 as you have a Capital Gain. (But in that form also you can show your professional income under Presumptive Taxation)
Does managerial service or person working as a business development manager included in technical consultant under section 44ada
Yes, you can file under 44ADA.
Use form ITR 3 as you also have a Capital Gain income.
Use form ITR 3 as you also have a Capital Gain income.
You will have to choose itr4 as you have capital gain
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