Difference between itr 4 and itr 4as

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Guest (Querist)

26 January 2013 difference between itr 4 and itr 4as

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)

26 January 2013 ITR -4 IS MEANT FOR THE ASSESSEES HAVING BUSINESS INCOME AND/ OR OTHER INCOMES. AND THE BUSINESS INCOME IS NOT COMPUTED UNDER PRESUMTIVE BASIS U/S 44AD / 44AE.

WHERE AS ITR -4S IS MEANT FOR INCOME FROM BUSINESS COMPUTED ON PRESUMTIVE BASIS.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

26 January 2013 ITR 4 & ITR 4S , both are applicable to the persons having income from business or profession.
.
ITR 4S can be used if the person is having income from -
Salary, pension, One House Property, business income of which can be shown U/s 44AD or 44AE and Interest Income.
.
ITR 4S can not be used means ITR 4 will only be applicable -
1. Tax Audit Case
2. Professional or commission Agent
3. Capital Gains Income
4. More than 1 house property income.
5.Agriculture income
6.Having Interest in the property out of India.
.

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