ITR 4S (Presumptive income) Tax Return
This query is : Resolved
CA Ashish Joshi
(Querist)
01 June 2011
Hi sir/mam,
I have found that in ITR 4S (Sugam Form), raw E2 shows 8% of E1.
My question is
whether we have to show exactly 8% or we can show higher percentage also ??? I know the provision that AO can assess higher than 8% but my concern is "whether exact 8% at the time of filling return... "
Thanks for the reply in adv.
Ashish Joshi
I have found that in ITR 4S (Sugam Form), raw E2 shows 8% of E1.
My question is
whether we have to show exactly 8% or we can show higher percentage also ??? I know the provision that AO can assess higher than 8% but my concern is "whether exact 8% at the time of filling return... "
Thanks for the reply in adv.
Ashish Joshi
CA PARAS BAFNA
(Expert)
01 June 2011
You can show the income at higher level i.e. upto 100%.
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CA PARAS BAFNA
(Expert)
01 June 2011
You can show the income at higher level i.e. upto 100%.
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