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 ?
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
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.