Itr

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 one of my friend is engaged in the prop. business of cosmetic items. his turnover for f.y. 2012-13 (first year of business) is 38 lacs and income of around 4 lacs. he is not maintaing proper books of accounts becoz it is not mandatory in his case. my question is that which return is applicable on him itr 4 or itr 4s ?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

01 August 2013 ITR - 4S sufficient.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 thank u very much sir.
one more question- what are the deductions under chapter VI available in case of sec 44Ad ?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

01 August 2013 All the deductions which are applicable and allowable to the assessee is available. No separate provisions for Chapter VIA deductions for the ITR-4S filing assessees.

OM SAI SRI SAI JAI JAI SAI

Ganeshbabu K

Ganeshbabu K (Expert)

01 August 2013 44 AD Assesse is eligible for deductions under section 80C,80D,80E.They are not eligible for deduction under chapter VIA under heading C -"Deductions in respect of certain income"They are not eligible to claim deduction under section 80H to 80 TT

Thanks & regards
Ganesh babu k