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is TD deducted u/s 194J use as income from profession.

Others 307 views 3 replies
tds u/s 194J of Rs. 23000 has been deducted of total paid sum 230000. I am a pensioner and also getting pension of Rs. 180000 per annum. now can i file itr4 and the amount received as 194j use as income from profession and declare only 50% of amount i.e. 115000. will my ITR will be valid?
Replies (3)

Yes, it can be declared u/s. 44ADA as 50% of gross receipts.

s valid

1. According to sec 44ADA, any person who is engaged in eligible business specified u/s 44AA can avail the presumptive taxation scheme u/s 44ADA. 
2. Sec 44ADA is a self-contained provision and it does not interfere with other provisions such as salary income, Capital gains and Income from other sources. 
3. So a person can avail the above scheme relating to his profession irrespective of his other heads of income. 
4. In your case, if you are engaged in eligible profession specified u/s 44AA, you can show 50% of your gross receipts as profit and free to show your salary income (Pension)  and any other income under their respective heads. 
5. Yes. ITR-4 should be filed. 
Please correct me if the above interpretation has an alternative view. 


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