Itr 4

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prahlad tanwani (Querist)
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02 November 2011 In the AY 2010-11 if my business turnover is 8,00,000 and as per 44AF my deemed profit would be

40,000(5% of 8,00,000), but booked or declared profit is 1,05,300(13.16%). Now please explain me

which amount sould be filled in col.A33iii in schedule BP of ITR4.

details : In the AY 2010-11-----In no account case. nature of B/P code 0202 and 0301

Business turnover ----- 800000
Gross profit ------ 135300
Expenses ------ 30000
Net profit ----- 105300

cash in hand ------ 210500

I want to declare my profit u/s 44AF and that is 105300 (13.16% of turnover) , despite of this I

have also earned of 36610 as a commission income from a marketing co, so including this comm. my

income from business/profession will be 141910. Gross total income and Total income is 158500

(including-income from other sources-Interest-16590) Now pl describe how to fill in ITR4 for AY

2010-11.

if any one can send me the filled itr4, i will be very grateful of him. and I think many other

assessees may take benifit from such a filled ITR4.
thanking you.

Gursimar Singh

Gursimar Singh (Expert)
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02 November 2011 Sir....44 AF sec. is no longer available instead a sec. 44 AD has been expanded to include all business... Acc. to the sec. 8% of the recipets will be treated as ur income...

prahlad tanwani

prahlad tanwani (Querist)
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02 November 2011 I am talking about AY 2010-11, Not AY 2011-12.

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Aditya Gopinath V

Aditya Gopinath V (Expert)
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04 November 2011 Dear Prahlad Tanwani,
I want to advice you from the planning angle.. Since you are still within the tax slab(i.e less than 160000), you can declare such higher income that is 103500 as arrived at in your books.

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