Should i use itr 4s by using presumptive taxation

Is it your business or profession? I mean do you do this activity side by side..., or is it your main activitiy through which you earn your living. If its the latter., then show it as your business income. You can claim your electricity expenses and internet expenses as your expenditure. If ur income doesn't exceed Rs.120000 in a year. U don't hv to maintain books.

Calculate expenses on assumption basis..!!! Gross reciepts info. u must b hving through ur bank account.!!!

Originally posted by : Ashish M
	Is it your business or profession? I mean do you do this activity side by side..., or is it your main activitiy through which you earn your living. If its the latter., then show it as your business income. You can claim your electricity expenses and internet expenses as your expenditure. If ur income doesn't exceed Rs.120000 in a year. U don't hv to maintain books. Calculate expenses on assumption basis..!!! Gross reciepts info. u must b hving through ur bank account.!!!

Yes it is the only activity which I do for my living and some other componies are also involved in my work like hosting compony and Advertising componies. Does my work belong to bussiness or I am a professional?

now see..,. it depends...!! whether it is B' or professsion..!! If the blogs u right are professional blogs..! like .., u hv mastery or expertise in a particular field., and u right blogs relating to that field or those fields., u r professional in that field.., its the profession that u r doing by blogging..!!! IF u write general blogs..!! like on no specific topics., but on large no. of topics.., not related to any specific field.., then it is the business that u r doing..!!

Though diff. b/w them no so important.., as both to be taxed under head 'Profits & gains of B' & pro' "

U can show the gross reciepts less general expenses and calculate the net profit..~!!

Originally posted by : Vipul
	Hello Guys, Please help me in this matter:   I have Online income from affliate commssion from my blogs and website and no other income and I want to fill return this year in other professional category but my problem is that I have no casebook and record maintained for my expenses and I don't know exatly how much I have spent on my bussiness. Should I take the help of presumptive taxation. Is my bussiness is elidgble under 44AD or 44AD is only for manufacturing and sells bussiness.

commission is business income and qualify for 44AD, please be ensure of nature of incomes, and as the incomes are from blogs commission, you have all such transactions trough banking channels only.

for expenses there is no hard and fast rule to maintain upto 60 lacs for business and 15 lacs for profession, so any expense declared by yourself is eligible, 

please be sure that taxable income should not be less than 8% of gross receipts. 

Thanks for response!

Yes all of my transections are through Banking channels like check and NEFT.

One more question: which Bussiness Code should I use in Returns. Should I use other professional (0607) category or Something else like other entertainment Industry etc.

General Commission Agents  0301 

Since their is no role of direct cash in my work.What should I fill in these options of return:

E7 Amount of Total Sundry Debtors ........

E8 Amount of Total Sundry Creditors ........

E9 Amount of Total Stock-in-trade ........

E10 Amount of Total Cash Balance........

or I should left these fields blank.

Leave all these fields blank...!!
If u want to maintain books on accruel basis, then creditor, debtor balance will come.., Cash & stock will remain nill.

But if u r following cash system of accounting,.. leave all of these blanck., since u dont' deal in cash.!!!