I.t return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2012 DEAR SIR,
I HAVE FILED AN RETURN OF MY BROTHER IN ITR 4S DECLARING AN INCOME OF RS 165000 UNDER CODE 714 WHICH IS FOR SERVICE SECTOR BUT ONE OF MY FRIEND TOLD ME THAT I HAVE TO FILE IT UNDER ITR 4....
SIR PLEASE REPLY ME FAST WHETHER I AM RIGHT OR WRONG SINCE ITS VERY URGENT....

aadish

aadish (Expert)
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27 July 2012 Dear

You have a option for filing ITR4 or ITR4S

The only Difference between them is ITR 4S returns filed by those who are not required to maintain books of account, and ITR4 by those who maintain proper books of accounts.
So you dont have to worry.

You filed right return the only condition with it u cannot show income of less than 8% of gross receipts.

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2012 PLEASE NEED SOME MORE ADVICE..

CA Rahul Jain

CA Rahul Jain (Expert)
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28 July 2012 ITR-4S is for assessee having "Presumptive Income" i.e. u/s 44AD/ 44AE.

ITR-4 is for any other assessee having business income.

Please specify the following details to advise you better:

Nature of business
Turnover
Books of accounts maintained or not?

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2012 nature of business- service sector under code 714 others
turnover-500000
books-not maintained

CA Rahul Jain

CA Rahul Jain (Expert)
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29 July 2012 You have correctly filed ITR-4s assuming that the assessee is not engaged in profession.

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