rajeev (Accountant) (159 Points)
07 August 2012Hi
Members
What is the No Account Case in ITR 4.
Total gross income not to exceed 150000 for last three presseding year means what.
If IT return file under no Account Case if Total Gross Receipt was 250000 can we get refund.
If any Article on above pl.post.
Thanks
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 07 August 2012
in no account case ITR 4S is to be filled, and not ITR4( refer sec 44AD)
rajeev
(Accountant)
(159 Points)
Replied 07 August 2012
Thanks
But as i know ITR 4S is to be filled if below 8 % profit shows.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 07 August 2012
ITR4S is for profit 8% or above, sec 44AD
if profit is below 8% then mandatory audit under sec 44AB, and form ITR4 required.
CAclubindia
