Itr

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Dear Colleagues

  Can any one tell me which ITR to be used for commission income as well as presumptive income.Last year the assessee was      having only presumptive income and ITR 4s was filed.But for this year commission is also there.so we cannot use ITR     4S so which ITR to be used and how to fill these two things .Please suggest me at the earliest.

 

 

 

 

 

Replies (6)
as commission is other income treat under IFOS and balance treat as presumptive, you can use itr 4S for the filing,.

But 4S Specifically excludes ITR 4s sir.Then how can i use 4S?Is there is a way for filing ITR 4?

itr 4s has income from other sources, i am telling to disclose commission as other income in itr 4s to the extent of commission

Sir,

  The commission amt is Rs.2,25,000 and TDS has been deducted u/s 194H.Whether we can use ITR 4S .Presumtive income is around 6.5 lacs and TDS deducted under sec 194C.

kindly sugguest me 

itr 4s provides the column for presumptive incomes and income from other sources also,

in the column of presumptive income declare presumptive income of 6.5 lakhs and in the head income from other sources declare 2.25 lakhs and claim tds,

presumptive income 6,50,000*8% = presuming under 44AD = 52000/-

ifos = commission = 225000

total income will be 277000, calcluate tax and take tds benefit and proceed for filing

Sir,

              OK sir. Thanks for the timely response. 


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