22 July 2011
A business man Income Rs. 162000 From Retail Business & His T/O of Business Rs. 1620000 & Other source Income is 25000 So Which Returen Is Required ITR4S or ITR 4 Is any Problem With This Return Subject To 44AA,44AB,44AD
22 July 2011
He can file ITR 4S. He should show his income U/s 44AD only then , 44AA will not apply. 44AB applies to a business, when gross turnover exceeds 60.00 lacs.