Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Tds is deducted u/s 194j

saurabh (student) (43 Points)

08 July 2018

I am rendering online coaching service and my tds is deducted u/s194j on 510000 Rs @ 10%

Which itr should i use and how can i reduce my tax liability and claim my whole refund

I do not have any 80 c investment

Plzz advice me

Reply
Follow
Share

13 Replies

Akhil (Student CA ) (1005 Points)
Replied 08 July 2018

file itr 1....u vl get a tax refund of 38000(iff u have only 510000 as income).....

Upgrade to CAclubindia Pro. Subscribe Now!

CA Sunil Kumar (Chartered Accountant) (4524 Points)
Replied 08 July 2018

You can file your income tax return u/s 44ad in which you can disclose your income 8%(6% in case payments received Cashless mode) if turnover is less than 2 crore.
You are required to file ITR 4

prasad Nilugal ( GST Practitioner & Accounts ) (14912 Points)
Replied 08 July 2018

1) ITR 3 wil be applicable if you are individual

2) as per section 80CCE of the income tax act 1961 you will get maximum deduction up to 150000/- RS , if you invest as per section 80C in LIC , certain equity shares etc .

please confrim with others also

Akhil (Student CA ) (1005 Points)
Replied 08 July 2018

44ad is only for business income not for professional income.... @ sunil

prasad Nilugal ( GST Practitioner & Accounts ) (14912 Points)
Replied 08 July 2018

Mr Akhil why ITR 1 ? This Income is not form Salary , House property and other source up to 50 lacs , same is applicable for ITR 1

Upgrade to CAclubindia Pro. Subscribe Now!

Akhil (Student CA ) (1005 Points)
Replied 08 July 2018

it is similar to tuition income....so,i think it can be chargable under head other sources... 😊

prasad Nilugal ( GST Practitioner & Accounts ) (14912 Points)
Replied 08 July 2018

If it is income form other source then why TDS on professional fees .

batchu vinodh (To become CA) (46 Points)
Replied 08 July 2018

Mr akhil..the tds was ded. under 194j not 192..so itr 4 is to be filed

Akhil (Student CA ) (1005 Points)
Replied 08 July 2018

itr-4 under 44ada..............am i rite

prasad Nilugal ( GST Practitioner & Accounts ) (14912 Points)
Replied 08 July 2018

Is this profession of online coaching service (teaching ) is under 44ADA . Just check professions . or He can opt 44 AD .( ITR4 )

Upgrade to CAclubindia Pro. Subscribe Now!

vikas (Accountant) (54 Points)
Replied 08 July 2018

which nature of business code can be used for cloth shop (bajaji)

CA Sunil Kumar (Chartered Accountant) (4524 Points)
Replied 08 July 2018

Dear Akhil, 44ada is for those profession specify in section 44aa and all other profession are eligible for 44Ad.

Sunil (Trader) (2611 Points)
Replied 09 July 2018

Coaching comes under the business heading of Coaching Institute and Tuitions and it is not under Profession. However Fees for Professional and Technical Services TDS u/s 194J also includes Businesses like BPO, KPO etc. as these are technical services. However please do not confuse technical services with the profession of technical consultancy.