Dear All,
If Proprietorship firm proprietor business turnover for the FY 2017-18 Rs 9,00,000/- including GST taxes.
Under income tax act which ITR suitable for his business?
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177852 Points)
Replied 29 March 2018
Can choose ITR4 equivalent......
NARESH V
(Accountant)
(93 Points)
Replied 29 March 2018
Sir,
Thank you.
what is the diiference between ITR 4 and ITR 4S.
If i choose ITR 4 what are the particulars to be filled?
NARESH V
(Accountant)
(93 Points)
Replied 29 March 2018
If i choose ITR 4S what are items shown in the ITR Form.
the proprietor sales and Purchases are almost equal ( i.e sales turnover is 8,80,000 and purchases turnover is 9,50,000/-) in that case which option is suitable for us.
If ITR - 4s tax liability only 8% of the Gross receipts?
then ITR - 4 what is the tax rate?
kindly advice us
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177852 Points)
Replied 29 March 2018
ITR 4S was for AY 2016-17..... the same ITR was identified as ITR4 for AY 2017-18.....
& same/its equivalent is suggested for you for AY 2018-19.....
Yes, you have to declare minimum 8% profit over Gross Turnover, under presumptive scheme.
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