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SERVICE OR BUISNESS, ITR
labour contractor is service provider or comes in buisness. I think he can file ITR U/S 44 AD, PRESUMTIVE INCOME @ 8%. I AM RIGHT OR WRONG?
Replies (5)
it should come under service. you can not file under presumptive basis.
then how to file,
file ITR 3 by considering income. it will also need to fill balance sheet and profit and loss.
except agency, commission or brokerage, rest of the businesses can opt for 44AD. Being a contractor, you can file ROI under 44ad
As per my view.,
The Labour Contractor can avail Presumptive Taxation scheme u/s 44ad... If he is doing as Business...
If he have some labours and taking contract from vendor and supply the labours for the work then You can consider it as business Income...
The Labour Contractor can avail Presumptive Taxation scheme u/s 44ad... If he is doing as Business...
If he have some labours and taking contract from vendor and supply the labours for the work then You can consider it as business Income...
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