A person is doing busines of IRONING (press) OF CLOTHES & DRY CLEANING OF CLOTHES. HIS INCOME is less than 10 lacs p.a. can we file return of income u/s 44 AD? If yes, than under which heading?? [RETAIL TRADING/ SERVICE CATEGORY] IF we apply for service categry u/s 44AD than will he be liable to register himself under SERVE TAX as he has already crossed 9 lacs p.a.??
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Income tax
Replies (2)
Regarding Income Tax U Have To File ITR 4S Presumtive Basis as showing 8% of Gross Receipt
Yes assessee is liable to get himself/ herself registered with service tax.
Moreover, assessee can not file income tax return u/s 44AD as this section is applicable for traders only. NOT FOR SERVICE PROVIDERS
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