Section 44ad request to reply urgently

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2015 AN ASSESSEE IS FILING ITR WITH REGULAR BUSINESS INCOME, NOW THIS YEAR HE HAS NOT PREPARED PROPER BOOKS OF ACCOUNTS FOR A. Y. 2013-14. AND THE ASSESSEE HAS TO CLAIM TAX REFUND FROM DEPARTMENT.

CAN HE FILE RETURN U/S. 44AD THIS YEAR.
IT WOULD BE CHANGE IN METHOD FROM REGULAR BUSINESS INCOME TO SECTION 44AD.

IS IT POSSIBLE?

sushil kumar

sushil kumar (Expert)

27 March 2015 If your turnover is below 1 crore and net profit showing 8% and above then you can file your return u/s 44AD in 4S form. In this case there is no need to maintain books of accounts.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2015 Thanks Sir,

The conditions you mentioned are applicable for it.

Please guide previous year means for A. Y. 2012-13 assessee has filed return with regular income from business or profession and filed with ITR 4. Now this year can he file ITR 4S ?

I mean the method of filing ITR changed is it allowable or suitable ?

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2015 Please help on this.

sushil kumar

sushil kumar (Expert)

08 April 2015 There is no problem at all. you can file ITR 4S.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now