Presumtive tax u/s.44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 January 2012
My client has made Net profit on sales @37.50%. Now can he file his income tax return using ITR-4S under presumtive income.
One tax expert advised me not to use this form if the net profit is more than 8%.
Can you please advise me in this matter.
One tax expert advised me not to use this form if the net profit is more than 8%.
Can you please advise me in this matter.
01 January 2012
You may use Form ITR 4S.Need not filled in ITR4.
CMA Arif Farooqui
(Expert)
03 January 2012
if ur turnover is under 60 lakhs then u can file ITR 4S. there is no reason that u cant file ITR 4S.
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