29 August 2016
I am a little bit confused when I go through the definition of ITR-4S applicability here mentioned that Its is applicable on "Professionals – who are carrying on profession of legal, medical, engineering, architectural, accountancy, technical consultancy, interior decoration, an authorized representative, film artist, company secretary and information technology. Authorized representative means – any person, who represents someone, for a fee or remuneration, before any Tribunal or authority under law. Film Artist includes a producer, actor, cameraman, director, music director, art director, dance director, editor, singer, lyricist, story writer, screenplay writer, dialogue writer, dress designer – basically any person who is involved in his professional capacity in the production of a film". An assessee who runs a coaching institute & another assessee who has income from school, Can both of them file their return in ITR-4S or not becoz in above definition it is not mentioned....
02 February 2017
If ITR-4 is filled in case income more than 3 lac for fy 15-16 from school & coaching, I want to know Balance sheet & P&L details should be filled or not in ITR-4. because I don't fall u/s 44AB but maintain books of accounts. I am confused either to skip balance sheet & Profit & loss details or not.....Plz help
02 February 2017
You will fall u/s 44AA hence you need to maintain books of accounts and file BS and P&L. If you opt for 44AD then no need to maintain books of accounts and file BS and P&L.
02 February 2017
one more thing I want to ask Income from Coaching & school can be shown in ITR4-S or not. If yes, then which code should be select for Nature of Business". but if not I will have to go with ITR-4
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