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Return filing for income u/s 194j


CA Ankit Agarwal (CA, CS)     24 July 2017

CA Ankit Agarwal
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For an income of Rs.5,10,000, TDS of Rs.51,000 has been deducted u/s 194J.(AY 17-18).

1. Is it necessary to show Rs.5,10,000 as Total Income? Or we can claim any expense out of it.

2.Which ITR Form needs to be used for filing such return of Income?

Thanks in Advance.

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Dhirajlal Rambhia (KVO Merau Kutchh)     24 July 2017

Dhirajlal Rambhia
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1. Yes....... expenses incurred for the generation of the income are deductible.

2. ITR 3....... or for eligible profession ITR 4

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CA Ankit Agarwal (CA, CS)     24 July 2017

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Thank you Sir.

One more question- Can the return be filed in ITR-4 under the provision of Sec 44ADA.

The assesse is an engineer, working in a company. But the company is not treating the payments made to him as salary. Rather it has  shown the payments made to him as consultancy fee and deducted TDS u/s 194J @ 10%.

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Dhirajlal Rambhia (KVO Merau Kutchh)     24 July 2017

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Yes, Engineers can declare their consulting fees under section 44ADA.

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vikash dwibedi   24 July 2017

vikash dwibedi

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either you can declare taxable income @ 50% of total collection or if you want to debit the exp. then you need to audit your books of account if your total collection less than 50 lacs

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CA Ankit Agarwal (CA, CS)     25 July 2017

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Thank you for the reply

sandeep porwal   26 July 2017

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one more question sir
194 j income 1200000 and tds 120000
with capital gain of short term share profit 200000
i choose itr 3 but how much net profit i declare in p &l
and full balance sheet fill is must or not

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Dhirajlal Rambhia (KVO Merau Kutchh)     27 July 2017

Dhirajlal Rambhia
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ITR 3 can be used in two different options......... With accounts maintained or without accounts as under presumptive assessment.

For you, when you adopt section 44ADA........ no need to fill BS & P&L account in full, but only Sr. 6 of BS & sr. no. 53 a,b..... of P & L acc.

Here gross receipts and gross profits are to be filled as actual, while nett profit u/s. 44ADA should not be less than 50% of GR.

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sandeep porwal   27 July 2017

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thanks for reply sir
but in 44ada form no. Itr 4 capital gain option is not available and i choose itr 3 without account maintain
but error show audit details 44aa if your profit 120000 or more

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Dhirajlal Rambhia (KVO Merau Kutchh)     27 July 2017

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Choose option  'NO' for applicability of tax audit u/s. 44AB and of maintaining of accounts as per sect. 44AA.......... in 'General' Schedule

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