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Sections 44ad & 44ada (itr 4s) for freelance and f&o income

ITR 495 views 3 replies

Dear Sir/Madam,

I wanted to file ITR 4S (AY 2017-2018) so I wanted to know more about Sections 44AD and 44ADA to avoid tax return audit and keep account books, receipts etc..
 
My freelance (Web data admin) total income is 2,61,016/- 

So can I show 2,61,016/- gross receipt and 50% of income i.e. 1,31,000/- under 44ADA section?
Screenshot: https://www.screencast.com/t/7X69WmrHm

And also doing F&O options trading too (but no profit)
FY 2016-2017 F&O total turnover 16,35,548/- 

Can I show turnover 16,35,548/- under Gross Turnover and 6% of profit 100,000/- under 44AD section
Screenshot: https://www.screencast.com/t/dBfMnHYiZe

there will be some around 1000-1500/- tax need to pay so I will

(I don't want toget tax return audit and keep account books, receipts etc..)

 

Please advise 

Thank you

Kind regards,
Narayan K
Hubli

Replies (3)

Yes, you are correct to choose ITR4_Sugam.........

Dear Sir,

Thank you so much


Kind regards,
Narayan K
Hubli

Most welcome


CCI Pro

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