Dear All, Im getting salary upto 31.03.2017 and ITR filed form ITR 1, but from 01.04.2017 doing individualy repair & services of xerox machines at door step of office & companies.. which ITR have to file in fy 2017-2018. Please clarifiy and do the needful.
Thanks in Advance.
Sathis Kumar
IF YOUR TURNOVER DOES NOT EXCEEDS 2 CRORES (44AD) OR GROSS RECEIPT DOES NOT EXCEEDS 50 LAKHS (44ADA) DURING FY 2017-18 THAN YOU CAN OPT FOR PRESUMPTIVE INCOME AND FILE ITR-4
AS YOU SAID YOU PROVIDE REPAIR & SERVICE OF XEROX MACHINES. IT MEANS YOU FALLS UNDER SECTION 44ADA. FILE ITR-4 AND FILL DETAILS IN SEC 44ADA(TAXABLE 50% OF GROSS RECEIPT)
OTHERWISE FILE ITR-3
If your gross receipt doesn't exceeds 50lakhs, then go for ITR-4. Otherwise ITR-3
he can not opt section 44 ADA same is for professionals so under 44AD ITR4 or ITR 3 is applicable .
| Originally posted by : RAJA P M | ||
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Yes... I agreed to Mr Prasad Nilugal., The Repair and Maintenance under purview of Business. It's treated u/s 44ad. He can file ITR 3 or ITR 4 in AY 17-18.... |  |
OK AGREE
SORRY FOR WRONG EXPLANATION
FILE ITR-4 AND FILL DETAILS IN SEC 44AD (TAXABLE 6/8%) OTHERWISE FILE ITR-3
CORRECTION IN WORDINGS
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