On filling ITR-4 there is requirement
Are you filling return of income under seventh provisio to section 139(1) but other wise not required to furnish return of income........................ What to select Yes/ No?
Select no,
a) if your income exceeds basic exemption limit or
b) income below besic exemption limit and follwing transactions if occured and limit hasn't been crossed.
1. not deposited 1 crore in current account in previous financial year
2. not spent 2 lakh on foreign travelling
3. No electricity consumption exceeds 1 lakh.
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