10 July 2011
ITR 4S is applicable to those assessees who are showing their Business Income on Presumptive Basis either U/s 44AD or U/s 44AE. Further ITR 4S can not be filed by an assessee if he is having Income from house property from more than one properties or having income under the head Capital Gains. In such cases he can file his Return in ITR -4 by showing the Business Income U/s 44AD or 44AE.
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