Itr 4s

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2015 I HAVE FILED MY INCOME TAX RETURN WITH ITR FORM NO. 4, FOR ASSESSMENT YEAR 2012-13.
FOR ASSESSMENT YEAR 2013-14, I HAVE NOT PREPARED PROPER BOOKS OF ACCOUNTS, AND I WANT TO FILE MY IT RETURN AND I HAVE TAX REFUND.

CAN I USE "FORM NO. 4S"

IS IT ALLOWABLE TO CHANGE IN INCOME TAX RETURN FORM NO 4 TO 4S ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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27 March 2015 which business or profession do u have is not mentioned?

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2015 POWDER COATING OF METAL FURNITURE I HAVE FILED PREVIOUS IN MANUFACTURING BUSINESS CODE.

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Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2015 Please reply on this sir.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 March 2015 Yes Section 44AD can be applied.

You can file ITR4S. No issues you can change from ITR4 to ITR4s. Return is of AY 2013-14, so file it on or before 31st March 2015.

ITR 4S can be used when total income comprises following income:
# Business income where Presumptive scheme under section 44AD & 44AE of the Act is used for computation of business Income
# Salary/Pension
# One House Property
# Other Sources

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 March 2015 Please also note Who cannot use the ITR‐4S. ITR‐4S is not applicable if income is derived from:

# More than one House Property
# Winning from lotteries/horse races
# Capital gains not exempt from tax
# Agricultural Business in excess of Rs. 5000
# Speculative Business
# Losses to be carried forward
# Return in ITR‐4S cannot be filed by a person, who is deriving income as referred to in sub section ﴾1﴿ of section 44AA or income from agency business or income in the nature of commission for brokerage
# Any asset ﴾including financial interest﴿ located outside India;
# Signing authority in any account located outside India;
# Has claimed any relief of tax under section 90, 90A or 91;
# Has income exceeding Rs. 5,000 which is not chargeable to tax.