I am an architect and working as a consultant in an architecture firm in Mumbai. I am not on payroll but this is company is the sole source of income. I produce my bill to the firm to get the salary in my account. 10% TDS is cut every month. I have been issued form 16 A for 4 quarters. I have already paid 90000 as TDS. I have made some investment and have medical insurance too. I am not given any HRA.
So, if I file my ITR under ITR 4 of 44ADA, I get approx 89000 of my TDS. Whereas if I file normal ITR I get 2000 approx refund. Kindly suggest if I am right in going forward with this 44ADA. Or else suggest ways to get max tax refund.
Ameet Patel Ameet N Patel is a chartered accountant and former President of Bombay Chartered Accountants Society - BCAS
Subodh Shah CA Subodh Shah is a Fellow Member of the ICAI. A merit ranker throughout his career, he stood 3rd in CA Intermediate and 17th in CA Final. In addition he also got the prize of ICAI for scoring the highest marks in Direct Taxes at CA Final. He is practicing Chartered Accountant as well as a teacher for over 20 years.
Ameya Kunte Ameya Kunte is a Tax Professional, Chartered Accountant & Co-founder - Taxsutra.com
Nikhil Vadia CISA qualified Nikhil Vadia is a Chartered Accountant in practice since 1997
Vaibhav Sankla Vaibhav is a member of the board of directors of H&R Block India and is responsible for strategy and business development.
Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on financial and tax related issues
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