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Itr -4 or itr-4s

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Querist : Anonymous

Querist : Anonymous (Querist)

19 February 2014 Firm carrying the business or profession of Real estate consultancy accruing its main income (<60L) as commission from sellers or purchasers. Now which form should the firm have to file?
I have heard that person receiving income in the form of commission or brokerage should not file the itr-4s?
As in the given case as it is firm can it file itr-4s or itr-5? which is having income in the form of commission?

AVTAR SINGH

AVTAR SINGH (Expert)
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19 February 2014 When the firm is receiving commission income exceeding Rs.10,00,000 or the net profit exceeds Rs. 120,000, it is required to maintain books of accounts u/s44AA because commission income is not covered u/s 44AD. Therefore, Form itr-4S can't be filed. File Form itr-5.

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