Lakshmisha. B. S (assisstant) (92 Points)
21 July 2020Sir
Doctor working in a Hospital received Professional Charges U/s 194 J for the F Y 2019-20 of Rs. 660000 / Year
is fully Taxabale or not ?
How can I file the income tax Return Profession: u/s 44ADA - Presumptive profits is applicable for in this case or not ?
Please clarify
CA Payal Gupta
(Chartered Accountant)
(154 Points)
Replied 21 July 2020
@ Lakshmisha,
You can opt for presumptive scheme u/s 44ADA and file income tax return in Form ITR- 4 by showing your profit @ 50% or above of your Gross Receipts.
For the gross receipt of INR 6,60,000, you should show a profit of INR 3,30,000 or above while filing Income-tax Return.
Lakshmisha. B. S
(assisstant)
(92 Points)
Replied 21 July 2020
Sir
Doctor is trainee he was received Rs .660000 instead of salary in Section 194 J
CA Payal Gupta
(Chartered Accountant)
(154 Points)
Replied 21 July 2020
It means he is receiving an amount in the nature of a consultant as TDS has been deducted u/s 194J.
Hence, you should file Return in ITR-4 as per section 44ADA or as a normal business in ITR-3.
RAJA P M
("Do the Right Thing...!!!")
(127471 Points)
Replied 21 July 2020
annu Goyal
(1102 Points)
Replied 21 July 2020
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