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Income tax return (urgent)

Naina Rawat (Article) (135 Points)

29 July 2016

Please guide me regarding income tax filing under sec 44AD, as the assesse is filing return for first time and is indulged in business but did not maintained any books

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suresh (proprietor) (425 Points)
Replied 29 July 2016

The Sugam ITR-4S Form is the Income Tax Return form for those taxpayers who have opted for the presumptive income scheme as per Section 44AD and Section 44AE of the Income Tax Act. However, if the turnover of the business mentioned above exceeds Rs 1crores, the tax payer will have to file ITR-4.

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Udgam Koomar (Tax Technologist) (1949 Points)
Replied 29 July 2016

ITR4S should do the job

Naina Rawat (Article) (135 Points)
Replied 29 July 2016

Okay Thank you tell me one more thing is it fine to file return under 44AD if assessee is self employed in repairing and installing acquaguards and had not maintained any books.