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Itr4 filing for contractors

Efiling 109 views 1 replies

Abhishek Sharma

1 Points Joined June 2018

I am contractor and my salary is 13,09,176.I show my income as 654588(50% of my salary).
I am filing ITR4.
I am a contractor and so I am eligible for section 44ADA.
I invested 15000 in section 80C.
I don't produce receipts since as per section 44ADA I show 50% of my income.

When I file ITR do I need to specify any figures in GROSS receipts? How will be the tax calculated for my income slab.

Replies (1)

Nishant

Assistant

1095 Points Joined February 2017

first of all contractor in not covered in Specified Profession as mentioned in 44ADA. So u can't avail 44ADA. go for 44AD instead.
second, you said you are earning salary then ITR 4 is not applicable.
it's for income not for salary.
check under which head TDS is deducted and file accordingly.
thank you.