It return for ay 2012-13

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kamlesh (Querist)

15 June 2013 Sir,

If I want to file IT return for FY 2011-12 under section 44ad as belated 139(4). Is it possible or not..?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

15 June 2013 Yes , you can file the return for AY 2012-13.
.

kamlesh

kamlesh (Querist)

15 June 2013 & sir
if i file itr-4 under section 44ad & mention detail in No Account Case.

Now what should be mentioned in column no. 33i ( section 44ad) 0 or net profit amt..?

Rupesh Jain

Rupesh Jain (Expert)

15 June 2013 u/s 44Ad you have to declare 8% of net income of receipts.
but if your income is more than exemption limit than you have to have panelty for non filing return on time.
if you case is ( below 8%) audit case and income is more than exemption limit than also you have to face panelty.
if your income below exemption limit than you can file return.

CA UMESH DULAL

CA UMESH DULAL (Expert)

15 June 2013 If you are filling return u/s 44AD, you should file ITR-4S,

In ITR-4S go to NOB BP sheet and fill gross turnover in E1 and net profit (which should be greater than 8% of turnover) in E2

kamlesh

kamlesh (Querist)

15 June 2013 https://www.caclubindia.com/experts/section-44ad-1335154.asp

as per above link ITR-4 suggested

kamlesh

kamlesh (Querist)

15 June 2013 https://www.caclubindia.com/experts/section-44ad-1335154.asp

as per above link ITR-4 suggested

CA UMESH DULAL

CA UMESH DULAL (Expert)

15 June 2013 following person can not find ITR-4S
1. having More than one House Property
2. Winning from lotteries/horse races
3. Capital gains not exempt from tax
4. Agricultural Business in excess of Rs. 5000
5. Speculative Business
6. Losses to be carried forward

if your income falls in any of above category then go for ITR-4, otherwise go for ITR-4S as it is specially made for person having presumptive income.

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