Return file itr-4s
This query is : Resolved
SUDHIR GARG
(Querist)
30 May 2012
Can we show more than 8% profit from B&P in ITR-4S.
i have turnover for rs. 7,00,000 and my profit is 1,78,000 than whether should i file ITR-4 or ITR-4S.
i have turnover for rs. 7,00,000 and my profit is 1,78,000 than whether should i file ITR-4 or ITR-4S.
CA Harish Suwalka
(Expert)
30 May 2012
if you wish to show income on presumption basis than you should file return in ITR-4S
you can show more than 8% net profit, and pay tax accordingly...
you can show more than 8% net profit, and pay tax accordingly...
CA SHAH DILEEPKUMAR
(Expert)
30 May 2012
You can show profit more than 8 % and file ITR- 4S to get other immunity by mere filing limited details
SUDHIR GARG
(Querist)
30 May 2012
thnx for your kind rply....... and will i have to maintain books of a/c's u/s 44AA.
CA Harish Suwalka
(Expert)
30 May 2012
if you file return in ITR-4S declaring return on presumptive basis than there is no need to maintain books of accounts.
Message likes :
1 times
SUDHIR GARG
(Querist)
31 May 2012
Thanx mr. Harish but sec. 44AA said that if profit is more than 120000 in three precedng year than books of a/c's have to be maintained. please guide me
CA Harish Suwalka
(Expert)
31 May 2012
read clause no (iii) of that section
SUDHIR GARG
(Querist)
31 May 2012
i am not getting this clause......can you please explain
CA Harish Suwalka
(Expert)
31 May 2012
the essence is that one need not to coply with sec 44AA if he compiles with the 44ad
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
