Yes, income can be declared u/s 44ADA.
Can a professional (TDS u/s 194J) who is Director file under 44ADA
Dear Sir, Can a person who is a professional (covered under profession as per 44ADA ) & TDS deducted u/s 194J but working as a director in a company declare income on presumptive basis u/s 44ADA ???
Asked 4 years ago in Income Tax
Yes if he has received income under Professional capacity then you can go for 44ADA
Hello,
Yes, you can declare it under Sec. 44ADA.
Regards,
CA Hunny Badlani
Hi,
As long as the person is receiving income from his professional capacity, he can declare his income on presumptive basis u/s 44ADA.
Thank you
Dear Sir/Madam, In ITR-4 for 2019 ,we can show income from B/P covered under 44ADA but we cannot show income from another business which is not covered under 44ADA. In last year ITR, we were able to show 2 business - 1 under 44ADA & another under regular basis Pls refer below link where I had raised the question last year & as per the suggestions received,I was able to file it .But this year how should I file the ITR https://www.taxfull.com/9970/income-from-profession-and-income-from-f-o
Asked 4 years ago
Good Afternoon,
Yes a person covered under section 44ADA can file his/her return u/s 44ADA,
but remember one thing - your total expense/investments not exceeds your declared income, in many cases client file return u/s 44AD/ADA but balance in there accounts/expenses/investments are much more then declared income and while face big trouble while assessing case.
Dear Sir,
Hope you are doing well !!
Yes, you can declare the under section 44ADA.
Hello Sir,
Yes, you can take the benefit of presumptive taxation scheme u/s 44ADA.
There is no problem in declaring the income u/s 44ada.
ITR 4 is only for income from salary, house property and presumptive business income and income from other sources. last year also the case would have been same.
If you are receiving a professional fees as a director you can file ITR 4 and show income under 44ADA.
If you are having a non presumptive business you need to file ITR.
If you need any assistance feel free to contact me.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you.
If you also have business income other than the presumptive business income, then you cannot file ITR-4, you will have to file ITR-3.
Hi
It would depend on what kind of services are provided by you. If your services are categorized as eligible profession under section 44AA, you can claim the benefit of section 44ADA.
ITR 4 can be filed only for business and profession under presumptive taxation and not under regular taxation.
Hello Sir,
The ITR-4 Form is the Income Tax Return form for those taxpayers, who have opted for the presumptive income scheme as per Section 44AD, Section 44ADA and Section 44AE of the Income Tax Act.
ITR 4 is not applicable for regular business income.
You will have to file ITR 3 for both income.
You can show one Business under section 44AD & other under 44ADA. It is possible.
Connect at tysassociates.ca @gmail for assistance.
Dear Sir,
ITR 4 is only applicable for business & profession income under presumptive taxation scheme.
You need to file ITR 3 for regular income and income under PTS.
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