i m by profession lawyer .. i recieve salary from my senior also and i do practise also ...can i show both income in itr 4 ...is there any problem in it
yes you can show both the incomes in ITR4.. your salary income should be filled under salary head but your professional income should be filled under Sec 44ADA and offer at least 50% of your Turnover should be your Profit and pay tax accordingly ..
but one thing you should remember before you offer your income under Presumptive scheme.. If you show your professional income under Presumptive Taxation for current year then Next 4 A.Ys you must file ITR4 and show 50% of your turnover as Income...if u fails to file ITR 4 then Tax audit u/s 44AB and maintenance of books of accounts u/s 44AA will come in to force
Next 4 A.Ys you must file ITR4 and show 50% of your turnover as Income...if u fails to file ITR 4 and show less than 50% of turnover as income then maintenance of books of accounts is required other wise not required
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