15 April 2015
Is it compulsory to get it done audit to fill form ITR IV in case of their is loss in busniess.
Clarification:- one person having loss for A/y 2014-15 and he has filed a return using form ITR IV. SO, is it compulson to get it done audit by chartered accountant or not.
15 April 2015
not all the cases - for eg if you are a professional covered under 44AA(1), then audit wont apply unless your gross receipts cross 25 lakhs limit
however for others, audit will apply for claiming loss subject to conditions provided in section 44AD
15 April 2015
Dear Nikhil, Thanks for replying and you mean in each cases their is no need to get done the audit if you are fillimg itr in form Itr-IV. Please give the list of all cases/sec as 44aa(1)