Jobwork income v/s 44ad

Others 6441 views 9 replies

One of my client having jobwork income (Carpenter) of rs 2 to 3 lacs year and he is not maintaing books of account ...

can i file return of jobwork income under 44 AD ---- having only 2 to 3 lacs jobwork income ,,,,,, what will be the turnover in this case on which i have to consider 8% profit..

Please reply at cajignesh @ yahoo.co.in

Replies (9)

should not be an issue.

what should be the answer of above querry?

Can we file Job work income in ITR 4S?

YES , you can file ITR 4S  for job work income on presumtive basis u/s 44AD.

Eligible Business cover each and every business,

except the business of plying, hiring or leasing goods carriages referred to in section 44AE and whose total turnover or gross receipts in the previous year does not exceed an amount of Rs. 1 Crore.  ,

be it manufacturing, trading, job work etc

Turnover means the amount received/receivable from clients.

IN SECTION 44AD , BROKERAGE & COMMISSION INCOME EXCLUDED.

AND IF WE SEE , IN JOB WORK , THERE IS COMMISSION INCOME ONLY.

IN SECTION 44AD , BROKERAGE & COMMISSION INCOME EXCLUDED.

AND IF WE SEE , IN JOB WORK , THERE IS COMMISSION INCOME ONLY.

IN SECTION 44AD , BROKERAGE & COMMISSION INCOME EXCLUDED.

AND IF WE SEE , IN JOB WORK , THERE IS COMMISSION INCOME ONLY.

Anjali , i agree that with the part that 44AD exclude Brokerage & Commission .

But i don't think  job work charges qualifies within the meaning of BROKERAGE AND COMMISSION .

"commission or brokerage" includes any payment received or receivable, directly or indirectly, by a person acting on behalf of another person for services rendered (not being professional services) or for any services in the course of buying or selling of goods or in relation to any transaction relating to any asset, valuable article or thing, not being securities

Moreover if it had been covered in " BROKERAGE AND COMMISSION " we would be deducting TDS on u/s 194H, but do we do that, NO we deduct TDS u/s194C .

let take it practically , do you think income of job worker like tailor , carpenter etc should be covered in BROKERAGE AND COMMISSION , I DONT'T THINK SO.

so in MY OPINON  job worker can file ITR 4S.

YA, ALL CLERIFIED & AGREED WITH U.

THANKS 

you're welcome..


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