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RAJESH GUPTA

RAJESH GUPTA (Querist)

22 August 2015 PERSON HAVING A SMALL KARYANA STORE WHICH ITR FORM IS TO BE USED FOR THAT.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

22 August 2015 Please use form ITR-4.

Ishan Shah

Ishan Shah (Expert)

22 August 2015 Dear Rajesh,

Good Day..!

The ITR-4 Form is applicable for individuals or HUFs who are having income from BUSINESS OR PROFESSION.

If the requirements of audit are applicable, the due date of filing of return is 30th September. Otherwise, usually the due date of filing of return for non-audit cases is 31st July.

In case the presumptive method of taxation is applicable (Section 44AD and Section 44AE of the Income Tax Act), ITR-4S must be filed.

Since ITR-4S is applicable where gross receipts/turnover is less than Rs 1crore; assesses who are carrying out business or profession under presumptive income as per section 44AD & 44AE of the Income Tax Act but have turnover/gross receipts of more than Rs. 1 crore; will have to file ITR-4.

Thanks,
Regards,
Ishan

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