Itr 4s ay 2011-12
Querist : Anonymous
there is no option provided for section 44AF?
Querist : Anonymous
44AD is applicable to Individuals, HUFs and Firms only.
Querist : Anonymous
For AY10-11, presmt/ rate was 5% and taxable limit 160000.
For Ay 11-12, presmt. rate is 8% and taxable limit same 160000.
I want to file return for Both the years.
please experts give your comments?
File the Return for AY 2010-11 U/s 44AF by showing profit @ 5% or more. ITR 4
File the Reutrn for AY 2011-12 U/s 44AD by showing profit @ 8% or more. ITR 4S.
The methods are presumptive and the basis has been provided by the IT. So do not shy in filing the returns.
If facts permits, show profit somewhat higher than 5% in AY 2010-11.
Also keep in mind that in AY 2010-11, income should be kept below Rs 1.60 lacs, if possible.
Querist : Anonymous
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