Itr filing
This query is : Resolved
sandeep gupta
(Querist)
30 July 2014
If any person having only 194 J income & interest income can he file return without making book of accounts under which ITR he opt ITR 4 or ITR 4S
Can he prepare PL accounts with BS for taking refund.
Sandeep kumar
9811578637
Can he prepare PL accounts with BS for taking refund.
Sandeep kumar
9811578637
30 July 2014
itr4s is not permissible but itr 4is applicable and select without maintaining books
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Rupesh Jain
(Expert)
30 July 2014
if he have 194J income it is necessary to prepare the books of account and P/L a/c and balance sheet. u/s 44AA.
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Nikhil Kaushik
(Expert)
30 July 2014
you need to follow 44AA and 44AB. if you are not in professions covered un 44AA(1), and where the income exceeds Rs 1.2 lakhs or gross receipts exceed Rs 10 lakhs , then accounts are to be maintained. otherwise not.
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