Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Itr 4s

RAJ KUMAR (FINANCE MANAGER) (1393 Points)

30 May 2012

HELLO FRIENDS, CAN I FILE THE RETURN OF BEAUTY PARLOUR IN ITR-4S.

CAN I SHOW 70% PROFIT INSTAED OF 8%.

PLS. HELP ME.

THANKS.

Reply
Follow
Share

1 Replies

NiTiN JAiN (TAX CONSULTANT & CA FINAL STUDENT) (155 Points)
Replied 30 May 2012

You can file the ITR 4S declaring higher percentage of profits from business. but according to me income from Beauty parlour will be covered under Professional Income & for this ITR 4S is not valid. It is valid only for Business Income. It will come under ITR 4 only.