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Itr for scrap business

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22 December 2014 Dear Sir
MY one Of friend have business of scrap material.his business almost all trancation is cash.How can he fill his itr 4 for p.y 2012-13 and 2013-14? he does not have any document of purchase and sale.his sale was 500000 in 2012-13 and 800000 in 2013-14.profit is under exemtion limit in both year.please suggest me

22 December 2014 Let him go for sec 44AD.
File ITR 4S

22 December 2014 CAN HE GET LONE IF HE FILE 4S?




22 December 2014 filling return is not the only criteria for obtaining loan so you need to ask the lender for his conditions to lend money

22 December 2014 BANK ASK LAST 2,3 YEAR ITR.

22 December 2014 yes agreed nut then they may also ask for other documents like security against the loan papers, roc fillings, guarantor etc

22 December 2014 YOU CAN FILE ITR 4S BUT FOR LOAN BANK CONSDER OTHER DOCUMENT

22 December 2014 Banks definitely give loans for 4S cases.No problem.






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