10 August 2020
I have purchased a land for 85 lakhs during FY 2019-20, paying tax @ 1%.I have deemed business income as per 44AD and interest from banks. I want to know which ITR form I am supposed to file my returns for AY 2020-21
11 August 2020
The Sugam ITR-4S Form is the Income Tax Return form for those taxpayers who have opted for the presumptive income scheme as per Section 44AD and Section 44AE of the Income Tax Act. However, if the turnover of the business mentioned above exceeds Rs 2 crores, the tax payer will have to file ITR-4.
CAclubindia
