Itr4-44aad query

Vijay Kumar (Retired Central Govt service)     21 July 2019

Vijay Kumar
Retired Central Govt service 
 10 points

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I am retired central govt employee. Retired in Jun2017. Now I am working as Technical consultant at the same office. During FY 2018-19  I got Rs 9 Lakh pension u/s 192, Rs 10 lakh u/s 194A  for interest on FD in bank,  Rs 4 Lakh  Honorarium for Technical consultancy   u/s 194J. . TDS 0f 10 % is cut on Technical consutancy and Bank FD. My friend suggested to file ITR4 - 44ADA   to claim 50% reduction on honorarium How do I file return for 194J to get any exemption on Technical consultancy income. Is this valid

with  request for suggestion




Tushar Gupta   21 July 2019

Tushar Gupta

 4 likes  48 points

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yes your friend is right you can show your income of rs 4 lakh honorarium as professional services under income from profession services and claim 50% as reduction. as per sec 44ada assessee can show presumptive income of 50% or more from professional services.

RAJA P M ("Do the Right Thing...!!!")     21 July 2019

"Do the Right Thing...!!!" 
 7765 likes  105413 points

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Yes... I agreed to Mr Tusar Gupta.

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