saral form

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2011 a person having capital gain and property dealing commission turnover of 30 lacs on which net profit is more than 8%. i believe he has to file ITR-4 and not ITR-4S, whether tax audit is required just because of the reason that he is filing ITR-4?

Ravikant

Ravikant (Expert)
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13 July 2011 ITR 4 is to be filed, tax audit is not applicable as turnover does not exceed 60 lac,

ITR 4S can also be filed by opting sec 44AD and declaring only 8% of turnover as profit, in this case also tax audit is not applicable,