itr 4s

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Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2011 i am confusing in understanding for whom it is compulsory to file itr 4s, please explain in easiest way.
thanks

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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24 June 2011 ITR 4S is applicable to the persons who are showing business income on the basis of 8%
or more on the turnover. (Turnover < 60.00lac)
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If an assessee shows profit according to Section 44AD (i.e. 8% or more profit on turnover or gross receipts) he has to file his return in ITR 4S.
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In case the turnover is more than 60lacs he has to get his accounts audited and as such he has to file ITR 4.
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In case his /or he wants to show profit less than 8%, he has to get his accounts audited . ITR 4 will be applicable to him.

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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24 June 2011 Further, ITR 4S can be filed by the persons carrying on business.

Professionals like doctors, CA, Engineers,
Actors, Directors, Musicians etc can file their return in ITR 4 Only.

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Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2011 thanks you so much........sir.

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