MR A. TRADING FOR THE ASST-YEAR 2018-19 RS.54.34 LAKS. THE NET PROFIT RS.4,72,000/-
1) IF FILING FOR FORM NO.3?
2) OR FILING NO NO.4?
3) IF DEDUCTED FOR 80C
4) IF CLAIMED FOR DEPRECATION FOR IN STATEMENT?
THANKS
T.T.VIJAYAPRAKASH (properter) (253 Points)
28 July 2018MR A. TRADING FOR THE ASST-YEAR 2018-19 RS.54.34 LAKS. THE NET PROFIT RS.4,72,000/-
1) IF FILING FOR FORM NO.3?
2) OR FILING NO NO.4?
3) IF DEDUCTED FOR 80C
4) IF CLAIMED FOR DEPRECATION FOR IN STATEMENT?
THANKS
Akash Somani
(66 Points)
Replied 28 July 2018
prasad Nilugal
( GST Practitioner & Accounts )
(14606 Points)
Replied 28 July 2018
I thnik profit is more than 8% so you can opt ITR4 Secton 44Ad of the income tax act . You will get deductions under 80C , However you can not calim deprecation .
please confirm with others also
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)