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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)
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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)
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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)
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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