Itr 4s
This query is : Resolved
28 July 2011
Sir,
1.Can ITR 4S be used in cases where net profit in a business exceeds 8%.
2.In case of firms, it is well known Interest and Remuneration to partners are deductible from 8% of Net profit. In such case how to reflect the same in ITR 4S.
1.Can ITR 4S be used in cases where net profit in a business exceeds 8%.
2.In case of firms, it is well known Interest and Remuneration to partners are deductible from 8% of Net profit. In such case how to reflect the same in ITR 4S.
28 July 2011
ITR 4S is only for individuals and HUF.
For firms you have to use ITR 5 only.
For firms you have to use ITR 5 only.
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