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Querist : Anonymous

Querist : Anonymous (Querist)

01 June 2011 For what kind of business should we use ITR-4s for E-filing.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 June 2011 Where Business income is decided under section 44AD on presumptive basis in respect of eligible business and eligible assessee,
ITR -4S , can be filed.

a) “eligible assessee” means,—

(i) an individual, HUF or a partnership firm, who is a resident, but not a LLP
(ii) who has not claimed deduction under any of the sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VIA under the heading “C. - Deductions in respect of certain incomes” in the relevant assessment year;

“Eligible Business” means,—

(i) any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE; and

(ii) whose total turnover or gross receipts in the previous year does not exceed an amount of 96a[sixty lakh rupees].

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2011 Thank you sir.. Now I got a clear idea now..

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