SECTION 44ADA OF INCOME TAX

[Arun Aggarwal]

Dear Sir/Madam,

One of my friends having following income during FY 2017-18

a) Pension from Govt of India 200000/- No TDS is deducted

b) Ffixed retainership /professional fee received from an organisation ---400000/- TDS deducted under section 194J on monthly basis

c) Interest Income from banks of FD ---100000/- TDS deducted under section 194 A

FOR THE AY 2018-19

A) CAN he FILE ITR-4 for claiming benefit of section 44 ADA of Income Tax Act in respect of his retainer ship fee.

B) He is not having any expenses vouchers or maintaining books of accounts , can he show 50% of gross receipt of retainership fee as persumptive income as per provisions of section 44 ADA of income tax act

C) Can he show other incomes i.e pension income and interest from bank in same ITR-4 sugam form

Please reply to A, B and C above

[DR.MARIAPPAN GOVINDARAJAN]

In my view it is not applicable.

AI Summary

Presumptive taxation under Section 44ADA deemed not applicable to retainership professional income in this advisory. The advisory response states that the presumptive taxation scheme under Section 44ADA is not applicable to the taxpayer's facts, and thus the claimed benefit cannot be availed under the circumstances described.