My father-in-law is working as an ayurvedic advisor in patanjali after the retirement from raj govt. He is getting professional fee from patanjali along with the pension.
my questions are:
1) ITR-4 has to be filled....ryt?
2) where can we fill the professional fee/income as he is not maintaining any books of account?
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Replies (2)
Quick Summary
He will show his income as income from professional and business head and if you need brief details contact to Financial Affairs Whatsapp 8076660698 ,info @ financialaffairs.in
@ Priyanka ji
1. Yes, you can file Form ITR 4 .
2. You can show his income from Professionals fee under section 44ADA in Form ITR 4 under presumptive Taxation Scheme.
under column '"COMPUTATION OF PRESUMPTIVE INCOME FROM PROFESSIONS UNDER SECTION 44ADA" in Form.
Under this section you can show your net income as 50% or more of Grooss receipt of Professional fee receipt.
1. Yes, you can file Form ITR 4 .
2. You can show his income from Professionals fee under section 44ADA in Form ITR 4 under presumptive Taxation Scheme.
under column '"COMPUTATION OF PRESUMPTIVE INCOME FROM PROFESSIONS UNDER SECTION 44ADA" in Form.
Under this section you can show your net income as 50% or more of Grooss receipt of Professional fee receipt.
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