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Audit

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Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2012 Dear expert,
As commission agents and brokers have been expeled from the sphere of section 44AD.
Suppose there is a broker whose gross receipts are 6 lacs and professional expences are 2.5 lacs and his net profit comes to 3.5 lacs. Can such person file his return in ITR 4 as account case and showing all the expences in Schedule of P&L for refund purpose or he has to get audit before filing his return.
Please advise me.

Amol S Joglekar

Amol S Joglekar (Expert)
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26 July 2012 No tax audit is required to be carried carried out. You can proceed with ITR4 and fill in the details as you have contemplated in your query.

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