Itr 4 or itr 4s?

yes, you can file ITR 4S..because you have salary income, other source n deemed income u/sec 44AD as commision & financial product income @ 8% chargeblity. so you can file ITR 4S.

Thank you very much for the quick reply Priyanka. I am not sure what is 8% chargeability? I do not have any business niether maintain any books.

it is not required to maintain books & business in sec 44AD business. you have to just calculate your gross reciepts from commision & financial products. n apply 8% tax rate on that reciepts. this is your declared income in 44AD. & you can file ITR 4S with this income.

Wow its really nice Thanks Priyanka.

E1 Gross Turnover or Gross Receipts : I received 22000 as commision after deducting tax so what income should I show as Gross Recipts (22000+TDS)? or only 22000?

E2 Total Presumptive income under 44AD (>=8% of E1) : What is >=8% of E1?

Thanks in advance and sorry for the basic questions :)

Regards
Raj

Hi Raj,

Sec.44AD specifically states that a person earning income in the nature of Commission or brokerage cannot avail any benefit u/s 44AD. 

ITR 4S can be used only if income is computed availing Sec 44 AD. Please check before using ITR 4S.

Vasanth

ITR 4S cant be used in case of commision income .

file itr4.

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ITR 4  ONLY