ITR 4S presumptive business

This query is : Resolved 
 


Querist : Anonymous (Querist) 22 May 2011

what is presumptive business?
for whom ITR 4S is applicable?


CA PARAS BAFNA (Expert)
22 May 2011

The business is not presumptive. The income from eligible business of an eligible assessee is decided on presumptive basis.
For The AY 2011-12 and onwards Sugam (4S) to be filled in the case of a person being an individual or a Hindu undivided family deriving business income and such income is computed in accordance with special provisions, referred to in section 44AD and section 44AE of the Act for computation of business income .



Querist : Anonymous (Querist) 22 May 2011

means whoes turn over is more than 60 lakh
and account is audited. AM I RIGHT SIR

CA PARAS BAFNA (Expert)
22 May 2011

No, Just reverse the conditions

CA PARAS BAFNA (Expert)
22 May 2011

No, Just reverse the conditions


Querist : Anonymous (Querist) 24 September 2011

Thankyou Very Much Expert....:)



You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :






× Online Coaching My Enrolled Courses
Articles Forum News Experts Exams Share Files Income Tax Accounts Career Corporate Law Service Tax Video Judgements Rewards Top Members Events Albums Find Friends Featured Feed Scorecard Bookmarks Mock Test Poll Notification Knowledge Finder Coaching Institutes Trainee Corner Jobs
close x
  SHARE THIS