QUESTION-
FROM- Satish Agrawal
A Person who is a fabrication contractor & his total income
313890/-in f.y.13-14 & tds also deducted on his payment u/s-94C
which is 3139/-
so pls told me assessee can be filed itr-4s
ANSWER-
Hi Satish,
Thanks for posting query, get your answer below:
1. Yes, you can use ITR 4S until and unless you show profit less than 8%. Also please see that 44AD does not applies to Profession, Agency Business and Commission & Brokerage Income.
2. Also the above statement is confirmed by the provisions of section 44AD which says that:
Eligible Business:
(i) any
business except the business of plying, hiring or leasing goods carriages
referred to in section 44AE; and
(ii) whose total turnover or gross receipts in the previous year
does not exceed an amount of One crore rupees.
Hope this will help you, feel free to contact further for any query.
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