Wheather itr 4 or itr 4s

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 December 2011 Dear Experts,

PLz advice which form i filed ITR4( under no account Case) or ITR 4S if Assess has Total receipt/tourover RS 750000 and net profit is 120000.

What is difference between both itr's

Aijaz Shaikh

Aijaz Shaikh (Expert)
Follow

25 December 2011 ITR 4S is for the person not maintaining books of accounts and difficulty in calculating net profit and hence declaring net profit of 8% of gross receipts on presumptive basis.

ITR 4 is for the person maintaining books of accounts.

Conclusion:-
If you are not maintaining account then how you get net profit.

If you have to declare profit of more than 8% you have to fill ITR-4.