Audit
This query is : Resolved
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.
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.
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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