Gross receipt from business more than 5 Lac and less than 10 lac and profit is 25 % of gross receipt, whether is it correct to show under non account case in ITR-4 Form, in case of books of account are not maintained by the person ?? and it is not, then when to use non account case ??
05 March 2016
No account case cannot be opted in ITR-4 since the annual income is 1.25.000 ( 25% of 5,00,000) which exceeds the threshold mentioned in section 44AA(2).
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