Itr4s

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priya (Querist)
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23 March 2017 Dear Sir/Ma'am

i want to file ITR 4S of Partnership Firm for the FY 2014-15 on Presumptive basis, but while opening ITR 4S only 2 status is showing i.e Individual & HUF. Please provide me your valuable reply so that i can proceed my work

Thank You

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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23 March 2017 In case of partnership firm ITR-5 is filed and not ITR 4S. ITR-5 is required to be filed even if its a case of presumptive basis.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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23 March 2017 In case of partnership firm ITR-5 is filed and not ITR 4S. ITR-5 is required to be filed even if its a case of presumptive basis.

priya

priya (Querist)
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23 March 2017 Sir thanks for the immediate reply
but i need more clarification why can't i file ITR 4S (for Partnership Firm) for the FY 2014-15 because
As per Section 44AD of Income Tax Act 1961, it Says that it applies to cases of Individuals, Partnership & HUF (subject to some conditions)
and my question is at the time of downloading excel utility of ITR 4S (for Partnership firm), for the FY 2014-15 the status column showing only Individual and HUF whereas when i download the excel utility of ITR 4S, for the FY 2015-16 the status column shows Individual, HUF and Partnership firm. So, why its not appearing in FY 2014-15

Kindly advice me

Thank You

Thanks

Jaymin Sabhaya

Jaymin Sabhaya (Expert)
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24 March 2017 Dear Ma'am,
Rule 12(ca) has been amended vide notification no. SO 1262(E) [NO.24/2016 (F.NO.370142/2/2016-TPL)], DATED 30-3-2016 which allows the partnership firms (other than LLP) to file ITR 4S from the FY 2015-16. therefore you can file ITR 4S for partnership firm FY 2015-16 onwards.
Please follow following link for further guidance - - -
http://www.incometaxindia.gov.in/Pages/rules/income-tax-rules-1962.aspx
https://www.taxmann.com/topstories/104010000000047885/now-firms-can-file-itr-4s-for-presumptive-income-cbdt-notifies-new-itr-forms-for-ay-2016-17.aspx

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