Which return form should be used

635 views 4 replies

HELLO FRIENDS,

suppose a person x has less than 8% of his total sales of Rs. 5000000 as his net profit.

as per 44AD he will have to get his accounts audited if he wants to show net profit less than 8% .

now my question is that in such case which return form will be used by x for filing his return of income ???

 

will it be ITR4 OR ITR4S ??????

AND also tell me whether such audit of accounts done by a chartered accountant in the above mentioned case be counted for his total limit for 45 tax audits????

 

plz help

thanking in anticipation.

Replies (4)

ITR 4 will be applicable in this case.

This will also be counted while calculating the audit limit.

ITR 4 should be used, only in case of declaration of profit more than 8% ITR 4S is used.

ITR 4 is applicable in this case.

If he declares his income lower than 8% it is mandatory to get his accounts autited.

it will be counted for his total limits to tax audits.

ITR 4S is not allowed because it is not assumed income, Audit should be done by CA

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