Itr 4s related query

This query is : Resolved

Raja Kumar Jha (Querist)
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04 October 2015 respected sir / Madam , what is the difference between ITR4 and ITR 4S , at which cases we can opt for ITR 4S?

Amol S Joglekar

Amol S Joglekar (Expert)
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04 October 2015 for the cases of presumptive taxation e.g. 44AD or 44AE, we can opt for ITR 4S

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 October 2015 ITR-4S (SUGAM)

Who can use this Return Form?

This Return Form can be be used by Individual/HUF whose total income for the assessment year 2015-16 includes:-

(a) Business income where such income is computed in accordance with special provisions referred to in section 44AD and 44AE (i.e. on presumptive basis)

(b) Income from salary/ Pension

(c) Income from one house property (excluding cases where loss is brought forward from previous years)

(d) Income from other sources (Excluding winning from lottery and income from race horses)

ITR-4S (SUGAM)

Who can not use this Return Form?

This Return Form should not be used Individual/HUF whose total income for the assessment year 2015-16 includes:-

(a) Income from more than one house property; or

(b) Income from Winnings from lottery or income from Race horses; or

(c) Income under the head "Capital Gains”; or

(d) Agricultural income in excess of 5,000; or

(e) Business income where such income is computed in accordance with special provisions referred to in section 44AD and 44AE ; or

(f) Person claiming relief under section 90 and/or 91; or

(g) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India or

(h) Any resident having income from any source outside India

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 October 2015 https://www.caclubindia.com/articles/filing-itr-of-ay-2015-16-24379.asp

Also check out article from above link on selection criteria of ITR.

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