LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Return filing form

Nabeel (CA) (3288 Points)

22 September 2014

A person has a small medical shop having annual turnover of 5 - 6 lakhs. Its a proprietrship busniess. Do he need to file his return in ITR 4 or ITR 4S.

Reply
Follow
Share

4 Replies

NAVEESH DHAR (ADVOCATE- TAXATION ADVISOR) (427 Points)
Replied 22 September 2014

The assessee may file his return in itr4s by declaring profit u/s 44D OR if the books of account has been prepared and the profit is more than 8% u/s 44AD than he can file in itr4.

Dixit (CA Final) (2405 Points)
Replied 22 September 2014

Agree with Naveesh

narayan kale (cunsaltant) (29 Points)
Replied 23 September 2014

But sir Declaring Profit more than 8% and books of account not prepare in this time itr4s or itr4 file????

CA Neelesh Sharma (2) (69 Points)
Replied 10 October 2014

Dear according to Sec 44D you may declare profit of more than 8% and ITR form 4S should be filed but if u want to declare profit of less than 8% than you have to maintain books of account and get thm audited.

According to your query you are not preparing books of accounts and your Net profit is more than 8% of total receipt than you have to file FORM 4S