Section 44ad request to reply urgently

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)
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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.

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

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