194J FEES FOR PROFFESSIONAL

[INDRA MOHAN SAXENA]

SIR.

PAYMENTS UNDER SEC 194J FEES FOR PROFFESIONAL AND PROFFESSIONAL. WHICH RETRUN I FILL ITR4 OR 4S AND .HOW I CALCULATE INCOME.ASSESSE IS A DOCTOR IN A PRIVATE NURSING HOME. AND PAYMENT MADE IN SEC 194J.GROSS PAYMENT IN F.Y. 13-14 IS RS. 1450000.AND TDS AMOUNT IS 145000. CAN I CALCUATE GROSS RECIPT-1450000,GROSS PROFFIT-362500,EXPENSES-NIL,NET PROFIT-362500.

AI Summary

Clarification needed on filing tax returns under Section 194J for professional fees: ITR-4 vs. ITR-4S for doctors. A user inquired about filing tax returns under Section 194J for professional fees, specifically whether to use ITR-4 or ITR-4S, and how to calculate income for a doctor working in a private nursing home. The gross payment for the fiscal year 2013-14 was Rs. 14,50,000 with a TDS of Rs. 1,45,000. The user proposed calculating gross receipts as Rs. 14,50,000, gross profit as Rs. 3,62,500, with no expenses, resulting in a net profit of Rs. 3,62,500. The response indicated that the query was unclear.