Itr 4s

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Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2015 I HAVE FILED MY INCOME TAX RETURN WITH ITR FORM NO. 4, FOR ASSESSMENT YEAR 2012-13.
FOR ASSESSMENT YEAR 2013-14, I HAVE NOT PREPARED PROPER BOOKS OF ACCOUNTS, AND I WANT TO FILE MY IT RETURN AND I HAVE TAX REFUND.

CAN I USE "FORM NO. 4S"

IS IT ALLOWABLE TO CHANGE IN INCOME TAX RETURN FORM NO 4 TO 4S ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

27 March 2015 which business or profession do u have is not mentioned?

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2015 POWDER COATING OF METAL FURNITURE I HAVE FILED PREVIOUS IN MANUFACTURING BUSINESS CODE.

Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2015 Please reply on this sir.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

28 March 2015 Yes Section 44AD can be applied.

You can file ITR4S. No issues you can change from ITR4 to ITR4s. Return is of AY 2013-14, so file it on or before 31st March 2015.

ITR 4S can be used when total income comprises following income:
# Business income where Presumptive scheme under section 44AD & 44AE of the Act is used for computation of business Income
# Salary/Pension
# One House Property
# Other Sources

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

28 March 2015 Please also note Who cannot use the ITR‐4S. ITR‐4S is not applicable if income is derived from:

# More than one House Property
# Winning from lotteries/horse races
# Capital gains not exempt from tax
# Agricultural Business in excess of Rs. 5000
# Speculative Business
# Losses to be carried forward
# Return in ITR‐4S cannot be filed by a person, who is deriving income as referred to in sub section ﴾1﴿ of section 44AA or income from agency business or income in the nature of commission for brokerage
# Any asset ﴾including financial interest﴿ located outside India;
# Signing authority in any account located outside India;
# Has claimed any relief of tax under section 90, 90A or 91;
# Has income exceeding Rs. 5,000 which is not chargeable to tax.

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