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Itr 4 or itr 4s

Riyaz (accountant) (310 Points)

04 January 2015

my friend giving manpower services to their client. which form he need to be submit for filing his return, ITR4 OR ITR 4S, is ITR 4S is eligible for him, pls reply

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9 Replies

CS RAJESH C.CHOUDHARY (ASSISTANT MANAGER) (14607 Points)
Replied 04 January 2015

ITR4 According to me.

Regards,

RAJESH CHOUDHARY

Mukesh Kumar (Accounts Manager) (1466 Points)
Replied 04 January 2015

ITR 4 IF HE EARN INCOME ONLY FROM PROFESSION AND BUSINESS , ITR 4S IF HE EARN MORE INCOME FROM OTHERS SOURIES AND SALARY

GOOD LUCK

CA ANKUSH AGGARWAL (CHARTERED ACCOUNTANT) (2782 Points)
Replied 04 January 2015

Originally posted by : Tanush Kumar
	ITR 4 IF HE EARN INCOME ONLY FROM PROFESSION AND BUSINESS , ITR 4S IF HE EARN MORE INCOME FROM OTHERS SOURIES AND SALARY GOOD LUCK

Ruta khunt (ca final student) (21 Points)
Replied 04 January 2015

ITR 4 if he earn income only from business and profession n ITR 4s only if he wants to for presumtive income GOOD LUCK

Mohit Sharma (Student CA Final ) (25 Points)
Replied 04 January 2015

If u doesn't want to make books of accounts then u can avail benefit of section 44AD of income tax act, and fill the return on 4s otherwise ITR 4 is required

PRAVEEN KUMAR (CA,CMA) (153 Points)
Replied 04 January 2015

Itr 4s for presumptive income I.e 44AD, 44AE. Itr 4 for income from PGBP other than presumptive income.

Arif Ali (Apt Co Advisory) (1230 Points)
Replied 05 January 2015

ITR4, if there are proper record of books and able to calculate the profit and loss.

If client is showing the profit at 8% of total turnover on presumtion basis. then ITR4S.

satyashi (Student C.A. final) (212 Points)
Replied 05 January 2015

ITR 4 only is applicable because ITR 4S is applicable only in case of presumptive taxation U/SEC 44AD

THANK YOU

bhupender (account executive) (31 Points)
Replied 05 January 2015

I am working in newly started company which starts its trade in october. its a marketing company which deals in cancer medicine.we have purchased medicines from himachal pradesh in october and sell out in further month..Company from which we purchased medicines didn't asked for T2 form. Without giving T2 form we sell out entire stock.And currently our turnover is less than 1 crore.Now what to do ,is any penalty levy on us