I.t.r

This query is : Resolved

Sankar Chakraborty (Querist)
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06 June 2012 WHO CAN USE I.T.R 4 & I.T.R. 4(S) OR
WHEN AN INDIVIDUAL WHO IS USING ITR 4 CAN USE I.T.R. 4 (S)

PLEASE MAKE UNDERSTAND TO ME

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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06 June 2012 ITR 4 can be used by the Indivuals & HUFs having Business/Profession Income. They may have income under the other 4 heads of Income and Agriculture Income.
.
ITR 4S, can be used by, Individual those having Business Income and are eligible to show the Income on presumptive basis U/s 44AD and 44AE.
Salary Income & Income from One House Property only, can also be shown in ITR 4S.
.
However, if the assessee is further having Capital Gains or Agriculture Income or Income from more than one house property,
or income from Commission, he has to file his return in ITR 4 only.
.

.

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Sankar Chakraborty

Sankar Chakraborty (Querist)
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07 June 2012 sir,
individual having business income and bank interest income THEN I.T.R. 4S CAN BE USED ?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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07 June 2012 If the turnover of the business is less than Rs. 60 lakhs. and the individual declares income @ 8% of the turnover, he can file ITR 4S.

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