Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

can i file itr 4 for coaching business

latest now (16 Points)

21 August 2018

income below 3 lakhs turnover 16 lakh

Reply
Follow
Share

4 Replies

CA Bhavik Soni (867 Points)
Replied 21 August 2018

yes you can opt 44AD and can file itr 4 accordingly

Upgrade to CAclubindia Pro. Subscribe Now!

latest now (16 Points)
Replied 21 August 2018

ok sir thanks .

CA Bhavik Soni (867 Points)
Replied 21 August 2018

welcome. follow me on twitter for more updates @ cabhaviksoni

CA P V N Varma (CA ) (609 Points)
Replied 21 August 2018

your Turnover is less than 2 crores.. you can file ITR 4 as Presumptive Return U/s 44AD and must show at least 8%of turnover (6% in certain cases)as Business income and no need to maintain books .. once you file Presumptive return current year then you must file ITR 4 for next 4 years.. if you fail to file ITR 4 for continuously 5 years then Tax audit U/s 44AB is applicable as well as liable to maintain books of accounts U/s 44AA.. so be careful while filling Return