Return file itr-4s
This query is : Resolved
30 May 2012
Can we show more than 8% profit from B&P in ITR-4S.
i have turnover for rs. 7,00,000 and my profit is 1,78,000 than whether should i file ITR-4 or ITR-4S.
i have turnover for rs. 7,00,000 and my profit is 1,78,000 than whether should i file ITR-4 or ITR-4S.
30 May 2012
if you wish to show income on presumption basis than you should file return in ITR-4S
you can show more than 8% net profit, and pay tax accordingly...
you can show more than 8% net profit, and pay tax accordingly...
30 May 2012
You can show profit more than 8 % and file ITR- 4S to get other immunity by mere filing limited details
30 May 2012
thnx for your kind rply....... and will i have to maintain books of a/c's u/s 44AA.
30 May 2012
if you file return in ITR-4S declaring return on presumptive basis than there is no need to maintain books of accounts.
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31 May 2012
Thanx mr. Harish but sec. 44AA said that if profit is more than 120000 in three precedng year than books of a/c's have to be maintained. please guide me
31 May 2012
read clause no (iii) of that section
31 May 2012
i am not getting this clause......can you please explain
31 May 2012
the essence is that one need not to coply with sec 44AA if he compiles with the 44ad
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