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Itr 4 s

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(Querist)
28 July 2011 if client require itr 4Sugam and he had loss in that year then whether he can claim in the same form n how?
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
28 July 2011 No you cannot show loss in ITR 4S. As ITR 4S can be filed only if you show 8% profit of your turnover. And if you show profit then you can obviously not claim loss.

If you want to claim loss than file ITR 4.
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Ravikant

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Ravikant (Expert)
28 July 2011 It cannot be done,,
ITR 4 has to be filed, it has provision for carry forward of loss and also presumptive income
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